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Helmerich & Payne (HP) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 7, 2026
Helmerich & Payne (HP) reported revenue of $932M for the second quarter fiscal 2026 (Q2 FY26), -8% from a year earlier and -8% from the quarter before. Operating margin was -4.0%, net loss $55.9M (6.0% of revenue).
Helmerich & Payne, Q2 FY26: revenue $932M (-8% year over year), operating margin -4.0%, net loss $55.9M, operating cash flow $36.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $932M | -8% | -8% |
| Operating profit | −$36.9M | — | -188% |
| Net earnings | −$55.9M | — | -3477% |
| Operating cash flow | $36.6M | -80% | -35% |
What changed
Revenue was $932.4M in Q2 FY26, down 8% year over year and down 8% from the previous quarter.
Operating costs exceeded revenue by $36.9M, an operating margin of -4.0%. Total costs fell 0% while revenue fell 8%. The fastest-growing cost line was Other operating costs (+26%). The quarter ended with a net loss of $55.9M, narrower than the previous quarter's $94.9M loss.
Operating cash flow was $36.6M (down 35% year over year). Non-cash charges added back $180.7M of depreciation and amortization and $10.4M of share-based compensation. Working capital and other items used $98.7M. Capital expenditures of $62.9M exceeded it, leaving free cash flow of −$26.3M.
Questions
What was Helmerich & Payne's revenue in the second quarter fiscal 2026?
Helmerich & Payne (HP) reported revenue of $932M for the second quarter fiscal 2026 (Q2 FY26), -8% from a year earlier and -8% from the quarter before.
Was Helmerich & Payne profitable in the second quarter fiscal 2026?
Operating loss was $36.9M (-4.0% of revenue) and net loss $55.9M.
Source: Helmerich & Payne 10-Q on SEC EDGAR.