TULSA, Okla. (AP) — TULSA, Okla. (AP) — Helmerich & Payne Inc. (HP) on Wednesday reported fiscal first-quarter net income of $54.8 million.
On a per-share basis, the Tulsa, Oklahoma-based company said it had profit of 54 cents. Earnings, adjusted for non-recurring costs, came to 71 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The oil and gas well-drilling contractor posted revenue of $677.3 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $691.4 million.
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