Helmerich & Payne (HP) Q3 FY2026 earnings: revenue $1.0 billion, down 0.6% on the year

Helmerich & Payne, Inc. (HP) reported revenue of $1.0 billion for Q3 FY2026, the quarter ended 30 June 2026, down 0.6% on the same quarter a year earlier. Net income was $76 million, and diluted earnings per share $0.74. The figures are the company's own, from the 10-Q it filed with the SEC on 6 August 2026.

Revenue$1.0 billiondown 0.6%

Net income$76 million

Diluted EPS$0.74

QuarterQ3 FY2026ended 30 June 2026

What management said

Guidance figures: 1 new, 6 kept.

Direct margins at or near high-end of ranges: Company expects to report strong operational and segment financial results for fiscal 4Q 2026, with direct margins in North America Solutions, International Solutions, and Offshore Solutions all at or near the high-end of previously issued guidance ranges.
International margins particularly notable at $45 million: International Solutions segment expected to deliver particularly strong performance with direct margins around $45 million in the quarter, representing notable strength.
Robust activity expected with strong trends continuing: North America Solutions activity levels expected to remain robust in fiscal 2027 with continuation of strong commercial trends experienced in recent quarters, positioning company to meet rising customer demand.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	1,035	932	1,041	-0.6%
Cost of revenue	685	661	704	-2.7%
Gross profit	350	271	337	+3.9%
Gross margin	33.8%	29.1%	32.3%
Research and development	5.9	7.0	7.8	-24.0%
Selling, general and administrative	65.8	71.1	65.5	+0.5%
Operating income	188	-36.9	-128	n/a
Operating margin	18.2%	-4.0%	-12.3%
Interest expense	24.4	25.8	29.2	-16.3%
Pre-tax income	151	-46.6	-133	n/a
Income tax	72.4	9.3	29.0	+149.6%
Effective tax rate	48.1%	n/a	n/a
Net income	75.7	-58.6	-163	n/a
Net margin	7.3%	-6.3%	-15.6%
Diluted EPS	$0.74	-$0.59	-$1.64	n/a

$ million except per share.

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.

Cash flow and capital returned

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Operating cash flow	154	36.6	122	+26.4%
Capital expenditure	69.8	62.9	97.0	-28.1%
Free cash flow	83.9	-26.3	24.6	+241.1%
Free cash flow margin	8.1%	-2.8%	2.4%
Cash from investing	68.1	-54.0	-57.0	n/a
Cash from financing	-175	-58.3	-90.5	n/a
Depreciation and amortisation	181	181	179	+0.8%
Share-based compensation	8.3	10.4	7.9	+5.7%
Dividends paid	25.4	25.4	25.2	+0.8%
Dividend per share	$0.00	$0.00	n/a	n/a
Diluted shares, weighted	100m	100m	99m	+0.6%
Shares outstanding at period end	100m	100m	99m	+0.5%

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	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Shareholders' equity	2,670	2,630	2,867	-6.8%
Debt	1,862	2,002	2,192	-15.0%
Operating lease liabilities	n/a	n/a	109	n/a
Other liabilities	1,754	1,704	1,695	+3.5%
Total liabilities and equity	6,287	6,336	6,862	-8.4%
Fixed assets	3,865	3,977	4,408	-12.3%
Goodwill	182	184	167	+9.5%
Intangible assets	424	444	494	-14.2%
Investments	99.8	108	124	-19.4%
Cash and equivalents	204	177	166	+23.1%
Receivables	869	811	783	+11.1%
Inventory	326	331	330	-1.3%
Other assets	316	305	391	-19.2%
Total assets	6,287	6,336	6,862	-8.4%

Questions

What was Helmerich & Payne's revenue in Q3 FY2026?

Helmerich & Payne (HP) reported revenue of $1.0 billion for Q3 FY2026, the quarter ended 30 June 2026, down 0.6% on the same quarter a year earlier.

How much did Helmerich & Payne earn in Q3 FY2026?

Net income for Q3 FY2026 was $76 million, and diluted earnings per share $0.74.

When did Helmerich & Payne report Q3 FY2026 results?

Helmerich & Payne filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 6 August 2026.

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-Q for the period ended 30 June 2026, filed 6 August 2026, accession 0000046765-26-000042: the filing on EDGAR. All of Helmerich & Payne, Inc.'s filings: EDGAR company page.

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