Helmerich & Payne Q2 Earnings: Super Spec Rigs, Tech Edge, Global Spread

Helmerich & Paynes Q2 earnings: $178M adjusted EBITDA, hitting the low end of guidance due to Middle East turmoil. North America Solutions averaged 136 rigs with $215M in direct margins, marking the cycles bottom. International Solutions earned $11.5M, Offshore beat expectations at $27M. Seven rigs reactivated in Saudi Arabia, but operating expenses rose by $3M. Suspensions in Iraq and Bahrain offset Latin America growth, maintaining a full-year rig count of 58-68. North America exited stronger with 138 rigs, FlexRobotics expanding to 4 more by year-end. Markets chill on Strait of Hormuz shutdown sparked a multi-year oil and gas boom, with teams in the region praised for resilience. Tulsa real estate sale topped $100M, wiping out a $400M term loan. Guidance increased: North America rigs 138-144, third quarter margins $230-240M, CapEx $270-310M, cash taxes $125-150M. Outgoing CFO J. Kevin Vann hands off to Todd Scruggs, both praising the balance sheet push toward one-turn leverage. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b667a84c9f6999cc