Helmerich & Payne, Inc. Earnings Recaps
Q1 2026
Feb 6, 2026
Helmerich & Payne delivered strong financial performance in Q1 2026, with adjusted EBITDA of $230 million, driven by resilient results across North America and offshore solutions, and promising growth in international markets.
Key takeaways
- Adjusted EBITDA of $230 million exceeded expectations, bolstered by robust execution in North America Solutions and Offshore Solutions.
- Average working rigs in North America increased to 143, maintaining industry-leading technology and achieving margins over $18,000 per day.
- FlexRobotics technology initiative shows promise for enhanced rig safety and operational efficiency, positioning H&P for future growth.
- Firm remains cautious about the macroeconomic environment but sees potential for sustained demand in oil and gas, particularly driven by LNG and AI advancements.
- Transition of leadership with John Lindsay stepping down as CEO, bringing in new strategic focus under Trey Adams.