Helmerich & Payne sees fiscal Q4 direct margins near high end of guidance
HP•Helmerich & Payne expects fiscal Q4 2026 direct margins near the high end of guidance across North America, International and Offshore Solutions. It forecasts about $45 million in International Solutions direct margins and targets net debt of about 1x adjusted EBITDA by year-end 2027 while maintaining its base dividend.
1. Quarterly outlook
Helmerich & Payne expects fiscal Q4 2026 direct margins near the high end of guidance for North America, International and Offshore Solutions. The company sees North America’s average rig count near the high end of its prior range, while International and Offshore activity are expected near their midpoints. International Solutions direct margins are forecast at about $45 million.
2. Fiscal 2027 targets
The company’s fiscal 2027 outlook calls for stronger overall direct margins than in 2026 on improving contracting activity. It targets about 1x net debt to adjusted EBITDA by calendar year-end 2027 while maintaining its base dividend.
