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Helmerich & Payne HP International Solutions — Direct operating expenses

Other segment segments

North America Solutions
$321.69M-1.3%
Offshore Solutions
$145.19M+4.5%

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Other financials

Income statement

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Revenue$1.0B-0.6%
Gross profit$349.9M+3.9%
Operating income$188.2M+247%
Net income$75.7M+146%
EPS (diluted)$0.74+145%

Balance sheet

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Cash & equivalents$239.3M+5.4%
Total debt$1.9B-20.2%
Total equity$2.7B-6.8%
Total assets$6.3B-8.4%

Cash flow

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Operating cash flow$153.7M+26.4%
CapEx$69.8M-28.1%
Free cash flow$83.9M+241%

Valuation

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Market cap$3.7B+141%
Enterprise value$5.33B+46.1%
P/S0.9×+0.5×

Profitability

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Gross margin31.8%-3.3pp
Operating margin3.3%-13.2pp
Net margin-3.4%-5.3pp
FCF margin4.4%-3.0pp

Returns & leverage

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Return on equity-4.9%-6.9pp
Debt / equity0.7×-0.1×
Current ratio2×+0.1×

Where this comes from

Reported directly by Helmerich & Payne in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: Helmerich & Payne’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:16 PM EDT
Fiscal quarter
Q3 FY2026
Calendar quarter
Q2 2026
Accession
0000046765-26-000042
(in thousands)North America SolutionsInternational SolutionsOffshore SolutionsTotal
Elimination of intersegment revenues(22,337)
Total consolidated revenues1,034,856
Less1:
Direct operating expenses321,686219,064145,191685,941
Depreciation & amortization83,21474,54711,023168,784
Research and development6,015——6,015
Selling, general and administrative costs11,2829,0971,33721,716
Acquisition transaction and integration costs—186—186

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Helmerich & Payne's international solutions — direct operating expenses?
Helmerich & Payne (HP) reported international solutions — direct operating expenses of $219.06M in Q2 2026.
How has Helmerich & Payne's international solutions — direct operating expenses changed year-over-year?
Helmerich & Payne's international solutions — direct operating expenses decreased by 5.5% year-over-year, from $231.7M to $219.06M.
What is the long-term trend for Helmerich & Payne's international solutions — direct operating expenses?
Over 2 years (2023 to 2025), Helmerich & Payne's international solutions — direct operating expenses has grown at a 99.4% compound annual growth rate (CAGR), from $180.8M to $718.82M.
What does international solutions — direct operating expenses mean?
Includes all costs directly attributable to the operation of international drilling rigs, such as labor, fuel, maintenance, and field-level logistics. Monitoring this metric is essential for assessing the operational efficiency and margin profile of the international business unit.

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