Helmerich & Payne (HP) Q4 FY2023 earnings: revenue $660 million, up 4.5% on the year

Helmerich & Payne, Inc. (HP) reported revenue of $660 million for Q4 FY2023, the quarter ended 30 September 2023, up 4.5% on the same quarter a year earlier. Net income was $78 million, up 70.5% on the year, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 8 November 2023.

Revenue$660 millionup 4.5%

Net income$78 millionup 70.5%

Diluted EPS$0.77

QuarterQ4 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Revenue	660	n/a	n/a	n/a
Cost of revenue	409	n/a	n/a	n/a
Gross profit	251	n/a	n/a	n/a
Gross margin	38.1%	n/a	n/a
Research and development	7.3	n/a	n/a	n/a
Selling, general and administrative	56.1	n/a	n/a	n/a
Operating income	93.7	n/a	n/a	n/a
Operating margin	14.2%	n/a	n/a
Interest expense	4.4	n/a	n/a	n/a
Pre-tax income	113	n/a	n/a	n/a
Income tax	35.1	n/a	n/a	n/a
Effective tax rate	31.1%	n/a	n/a
Net income	77.6	n/a	n/a	n/a
Net margin	11.8%	n/a	n/a
Diluted EPS	$0.77	n/a	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	215	n/a	n/a	n/a
Capital expenditure	114	n/a	n/a	n/a
Free cash flow	101	n/a	n/a	n/a
Free cash flow margin	15.3%	n/a	n/a
Cash from investing	-132	n/a	n/a	n/a
Cash from financing	-48.9	n/a	n/a	n/a
Depreciation and amortisation	94.6	n/a	n/a	n/a
Share-based compensation	8.6	n/a	n/a	n/a
Dividends paid	48.9	n/a	n/a	n/a
Dividend per share	$0.25	n/a	n/a	n/a
Diluted shares, weighted	100m	n/a	n/a	n/a
Shares outstanding at period end	99m	n/a	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	2,772	n/a	n/a	n/a
Debt	545	n/a	n/a	n/a
Operating lease liabilities	41.0	n/a	n/a	n/a
Other liabilities	1,024	n/a	n/a	n/a
Total liabilities and equity	4,382	n/a	n/a	n/a
Fixed assets	2,922	n/a	n/a	n/a
Goodwill	45.7	n/a	n/a	n/a
Intangible assets	60.6	n/a	n/a	n/a
Investments	359	n/a	n/a	n/a
Cash and equivalents	257	n/a	n/a	n/a
Receivables	403	n/a	n/a	n/a
Inventory	94.2	n/a	n/a	n/a
Other assets	241	n/a	n/a	n/a
Total assets	4,382	n/a	n/a	n/a

Questions

What was Helmerich & Payne's revenue in Q4 FY2023?

Helmerich & Payne (HP) reported revenue of $660 million for Q4 FY2023, the quarter ended 30 September 2023, up 4.5% on the same quarter a year earlier.

How much did Helmerich & Payne earn in Q4 FY2023?

Net income for Q4 FY2023 was $78 million, up 70.5% on the year, and diluted earnings per share $0.77.

When did Helmerich & Payne report Q4 FY2023 results?

Helmerich & Payne filed its 10-K for the year that ended with the quarter on 8 November 2023; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q4 FY2023 * †	Q1 FY2024	Q2 FY2024 †	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025	Q3 FY2025	Q4 FY2025 * †	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	660	677	688	698	694	677	1,016	1,041	1,012	1,017	932	1,035
Cost of revenue	409	403	402	415	408	411	702	704	694	683	661	685
Gross profit	251	274	286	283	286	266	314	337	318	334	271	350
Gross margin	38%	40%	42%	41%	41%	39%	31%	32%	31%	33%	29%	34%
R&D	7.3	8.6	12.9	10.6	8.9	9.4	9.4	7.8	7.6	6.6	7.0	5.9
SG&A	56.1	56.6	62.0	66.9	59.4	63.1	80.8	65.5	77.7	70.4	71.1	65.8
Operating income	93.7	123	111	113	107	90.9	42.2	-128	-1.5	-59.9	-36.9	188
Operating margin	14%	18%	16%	16%	15%	13%	4%	-12%	-0%	-6%	-4%	18%
Interest expense	4.4	4.4	4.3	4.3	16.1	22.3	28.3	29.2	28.0	25.6	25.8	24.4
Pre-tax income	113	125	117	122	116	76.4	44.4	-133	-62.1	-83.7	-46.6	151
Tax rate	31%	24%	28%	28%	35%	28%	93%	n/a	n/a	n/a	n/a	48%
Net income	77.6	95.2	84.8	88.7	75.5	54.8	1.7	-163	-57.4	-96.7	-58.6	75.7
Net margin	12%	14%	12%	13%	11%	8%	0%	-16%	-6%	-10%	-6%	7%
Diluted EPS	$0.77	$0.94	$0.84	$0.88	$0.76	$0.54	$0.01	-$1.64	-$0.58	-$0.98	-$0.59	$0.74
Operating cash flow	215	175	144	197	169	158	56.0	122	207	182	36.6	154
Capital expenditure	114	136	118	134	106	106	159	97.0	64.1	67.6	62.9	69.8
Free cash flow	101	38.4	25.4	63.0	62.8	51.9	-103	24.6	143	115	-26.3	83.9
Dividends paid	48.9	42.3	42.1	42.0	42.0	25.0	25.3	25.2	25.2	25.2	25.4	25.4
Shares outstanding	99m	99m	99m	99m	99m	99m	99m	99m	99m	100m	100m	100m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 September 2023, filed 8 November 2023, accession 0000046765-23-000069: the filing on EDGAR. All of Helmerich & Payne, Inc.'s filings: EDGAR company page.

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