Helmerich & Payne, Inc. (NYSE: HP) issued a press release on October 7, 2026, providing an update on its financial and operational performance for the fourth quarter of fiscal 2026. The company stated that it expects to report strong operational and segment financial results for the quarter, with direct margins for its North America Solutions, International Solutions, and Offshore Solutions businesses all expected to be at or near the high-end of previously issued guidance ranges.
In terms of rig activity, the company anticipates the average rig count for its North America Solutions segment will be near the high-end of the fiscal 4Q 2026 guidance range. Conversely, the International Solutions segment is expected to average near the midpoint of the guidance range, while the Offshore Solutions segment is expected to average near the midpoint for both rig count and management contracts.
President and CEO Trey Adams highlighted the performance of the International Solutions segment, noting an expectation to report direct margins of approximately $45 million for the quarter. Looking toward fiscal 2027, management expressed a constructive outlook, citing encouraging customer discussions and contracting activity. They anticipate stronger overall direct margins in fiscal 2027 compared to fiscal 2026. Specific segment expectations for fiscal 2027 include robust activity levels in North America Solutions and strong growth in Latin America for International Solutions, partially offset by near-term activity reductions in the Middle East.
Senior Vice President and Chief Financial Officer Todd Scruggs emphasized the company's commitment to reaching approximately 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining its base dividend. The company noted that ongoing market volatility reinforces the importance of energy security, presenting opportunities for H&P to deliver high-performance drilling solutions globally.
