Helmerich & Payne Q3 Profit Declines - Quick Facts

(RTTNews) - Contract drilling company Helmerich & Payne, Inc. (HP) said Thursday its profit for the third quarter declined to $149.5 million or $1.37 per share from last year's $192.3 million or $1.75 per share.

Included in net income per share corresponding to this year's third quarter are approximately $0.55 of after-tax gains from long-term contract early termination compensation from customers and $0.01 of after-tax gains related to the sale of used drilling equipment.  Included in net income per diluted share corresponding to last year's third fiscal quarter are approximately $0.13 of after-tax gains on the sale of investment securities and $0.01 of after-tax gains related to the sale of used drilling equipment.

On average, 29 analysts polled by Thomson Reuters expected earnings of $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

For the quarter, the company's operating revenues declined to $883.05 million from $952.09 million last year, but came in above analysts' expectations of $600.89 million.