uploads///International Rig Count and Rec

Will Rig Count Affect HP’s International Revenues in Fiscal 4Q16?


Nov. 20 2020, Updated 3:27 p.m. ET

Revenue from international operations

In fiscal 3Q16,[1. quarter ended June 30, 2016] Helmerich & Payne’s (HP) revenue share generated outside the US fell. 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) international revenues by the end of fiscal 2Q16 rose to ~76% of its total revenues, in comparison to 73% of its total revenues by the end of fiscal 2Q15. You can read more about Schlumberger’s earnings in Market Realist’s Schlumberger’s 3Q16 Earnings Beat Estimates!

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International rig count

By September 30, 2016, the international rig count fell 18% over a year ago. The decrease was lower than the US rig count fall, which fell 28% in the past year through the week ended October 28. Helmerich & Payne (HP) comprises 0.03% of the iShares Dow Jones US ETF (IYY). The energy sector makes up 6.7% of IYY.

Next, we’ll discuss what Helmerich & Payne’s management thinks about its value drivers.


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