3 Takeaways From Helmerich & Payne's Earnings
For investors who only read the earnings headlines, a ton of additional information can usually be gleaned by reading the details of the earnings report and comparing to competitors. For investors interested in the domestic land-drilling market, Helmerich & Payne (NYSE: HP ) happens to be one of the better providers of useful numbers.
The driller had some encouraging signs on new rig orders and increasing rig revenue per day, but the numbers show more stability than growth. As with Patterson-UTI Energy (NASDAQ: PTEN ) and Nabors Industries (NYSE: NBR ) , the troubling sign continues to be that customers want the new rigs at the expense of idled rigs.
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