Revenue from international operations
In fiscal 3Q16, Helmerich & Payne’s (HP) revenue share generated outside the US came down. HP’s international revenues decreased to 13% of its total revenues in fiscal 3Q16, compared to 17% in fiscal 3Q15.
In comparison, Schlumberger’s (SLB) revenues from its international operations by the end of 2Q16 increased to ~76% of its total revenues compared to 73% a year ago. Read more on Schlumberger in Market Realist’s Do Schlumberger’s Fundamentals Suggest Investment Opportunities?
International rig count
By August 31, the international rig count fell 18% over a year ago. The fall was smaller than the US rig count fall, which nearly halved in the past year through the week ended September 9. HP comprises 0.03% of the iShares Dow Jones US ETF (IYY). The energy sector makes up 6.8% of IYY.
Next, we’ll discuss Helmerich & Payne’s revenue and earnings.