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!
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.