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Helmerich & Payne (HP) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Nov 13, 2024
Helmerich & Payne (HP) reported revenue of $694M for the fourth quarter fiscal 2024 (Q4 FY24), +5% from a year earlier and -0.6% from the quarter before. Operating margin was 15.5%, net earnings $75.5M (10.9% of revenue).
Helmerich & Payne, Q4 FY24: revenue $694M (+5% year over year), operating margin 15.5%, net earnings $75.5M, operating cash flow $169M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $694M | -0.6% | +5% |
| Operating profit | $108M | -5% | +7% |
| Net earnings | $75.5M | -15% | -3% |
| Operating cash flow | $169M | -15% | -21% |
| Free cash flow | $62.8M | -0.4% | -38% |
What changed
Revenue was $693.8M in Q4 FY24, up 5% year over year and down 1% from the previous quarter.
Operating profit was $107.6M, a 15.5% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, above the 15% margin then. Total costs grew 5% against revenue growth of 5%. The fastest-growing cost line was Research & development (+20%). Net earnings were $75.5M, down 3% year over year. The effective tax rate was 35.1%.
Operating cash flow was $168.8M (down 21% year over year), 224% of net earnings. Non-cash charges added back $101.0M of depreciation and amortization and $7.4M of share-based compensation. Working capital and other items used $15.1M. Capital expenditures of $106.0M left free cash flow of $62.8M.
Questions
What was Helmerich & Payne's revenue in the fourth quarter fiscal 2024?
Helmerich & Payne (HP) reported revenue of $694M for the fourth quarter fiscal 2024 (Q4 FY24), +5% from a year earlier and -0.6% from the quarter before.
Was Helmerich & Payne profitable in the fourth quarter fiscal 2024?
Operating profit was $108M (15.5% of revenue) and net earnings $75.5M.
Source: Helmerich & Payne 10-K on SEC EDGAR.