Helmerich & Payne Inc. Q2 Profit Decreases, Misses Estimates

(RTTNews) - Helmerich & Payne Inc. (HP) revealed a profit for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $1.65 million, or $0.01 per share. This compares with $84.83 million, or $0.84 per share, last year.

Excluding items, Helmerich & Payne Inc. reported adjusted earnings of $1.86 million or $0.02 per share for the period.

Analysts on average had expected the company to earn $0.62 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 47.7% to $1.016 billion from $687.94 million last year.

Helmerich & Payne Inc. earnings at a glance (GAAP) :

-Earnings: $1.65 Mln. vs. $84.83 Mln. last year. -EPS: $0.01 vs. $0.84 last year. -Revenue: $1.016 Bln vs. $687.94 Mln last year.