Wall Street is optimistic about Helmerich & Payne, which is slated to report its third quarter results on Thursday, July 31, 2014. Analysts project a profit of $1.62 a share, a rise from $1.44 per share a year ago.
The consensus estimate has risen from $1.59 over the past three months. For the fiscal year, analysts are expecting earnings of $6.29 per share. Revenue is projected to be 12% above the year-earlier total of $840.2 million at $944.1 million for the quarter. For the year, revenue is projected to roll in at $3.71 billion.
Over the last four quarters, the company has seen its revenue grow by an average of 5% year-over-year. The 6% increase in the most recent quarter was the biggest rise.
The drop in net income in the second quarter snapped a streak of two straight quarters of year-over-year profit growth. The 34% year-over-year profit decline in the second quarter can be compared with the increases in previous quarters; profit rose 9% in the first quarter and 2% in the fourth quarter.
Helmerich & Payne provides drilling rigs, personnel, equipment, and camps on a contract basis to explore for and develop oil and gas in the United States and abroad. Other companies in the oil well services and equipment industry with upcoming earnings release dates include: Unit and Transocean.
Earnings estimates provided by Zacks.
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