TULSA, Okla. (AP) — TULSA, Okla. (AP) — Helmerich & Payne Inc. (HP) on Wednesday reported a loss of $96.7 million in its fiscal first quarter.
The Tulsa, Oklahoma-based company said it had a loss of 98 cents per share. Losses, adjusted for one-time gains and costs, came to 15 cents per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The oil and gas well-drilling contractor posted revenue of $1.02 billion in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $986.4 million.
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