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Helmerich & Payne: Fiscal 2Q Earnings Snapshot

TULSA, Okla. (AP) _ Helmerich & Payne Inc. (HP) on Wednesday reported fiscal second-quarter net income of $60.9 million, after reporting a loss in the same period a year earlier.

The Tulsa, Oklahoma-based company said it had profit of 55 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 66 cents per share.

The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.

The oil and gas well-drilling contractor posted revenue of $720.9 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $714 million.

Helmerich & Payne shares have climbed 27 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. In the final minutes of trading on Wednesday, shares hit $60.92, a fall of 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HP at https://www.zacks.com/ap/HP