Helmerich & Payne, Inc. (NYSE:HP) Q4 2023 Earnings Conference Call November 9, 2023 11:00 AM ET Company Participants Dave Wilson - VP-IR John Lindsay - President and CEO Mark Smith - SVP and CFO Conference Call Participants David Smith - Pickering Energy Partners Kurt Hallead - Benchmark Waqar Syed - ATB Capital Markets Keith Mackey - RBC Capital Markets Marc Bianchi - TD Cohen Tom Curran - Seaport Research Ati Modak - Goldman Sachs Operator Good day everyone and welcome to the Helmerich & Payne Fiscal Four ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4221 HELMERICH & PAYNE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Helmerich & Payne, Inc. Thank You for Your Interest in H&P For more information, please visit our website at www.helmerichpayne.com Contact: Dave Wilson, CFA, CPA VP of Investor Relations 918-588-5190, investor.relations@hpinc.com NYSE : HP • Supporting baseload power source alternative • 6 investments in companies pursuing unconventional geothermal resources with enhanced geothermal and closed-loop systems • Drilled the first horizontal geothermal well in the U.S. • Natural gas/LNG • Investment in Galileo ...

Helmerich & Payne, Inc. (NYSE:HP) Q3 2023 Earnings Conference Call July 27, 2023 11:00 AM ET Company Participants Dave Wilson - Vice President-Investor Relations John Lindsay - President & Chief Executive Officer Mark Smith - Senior Vice President & Chief Financial Officer Conference Call Participants Derek Podhaizer – Barclays David Smith - Pickering Energy Keith Mackey - RBC Capital Markets Saurabh Pant - Bank of America Arun Jayaram - JPMorgan Kurt Hallead - Benchmark Doug Becker - Capital One Operator G ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Exact name of registrant as specified in its charter) For the quarterly period ended June 30, 2023 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) OR Delaware 73-0679879 Commission file number 1-4221 QUARTERLY REPORT PURSUANT TO SECTI ...

Helmerich & Payne, Inc. (NYSE:HP) Q2 2023 Earnings Conference Call April 27, 2023 11:00 AM ET Company Participants Dave Wilson – Vice President of Investor Relations John Lindsay – President and Chief Executive Officer Mark Smith – Senior Vice President and Chief Financial Officer Conference Call Participants David Smith – Pickering Energy Derek Podhaizer – Barclays Don Crist – Johnson Rice Keith Mackey – RBC Capital Markets Operator Good day, everyone, and welcome to today’s Helmerich & Payne Fiscal Second ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4221 HELMERICH & PAYNE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpora ...

© 2022 Helmerich & Payne, Inc. All Rights Reserved. 1 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | March 2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Financial data as of 12/31/2022; other data as of 01/30/2023 unless otherwise noted. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

Financial Data and Key Metrics Changes - The company reported quarterly revenues of $720 million, an increase from $631 million in the previous quarter, primarily due to higher average pricing in the North America Solutions segment [9][28] - The effective tax rate for Q1 was approximately 25%, consistent with previous guidance [11] - Earnings per diluted share were $0.91, up from $0.42 in the previous quarter, with adjusted diluted earnings per share at $1.11 compared to $0.45 in the fourth quarter [28][28] - Operating cash flow for Q1 was approximately $185 million, aligning with expectations [12] Business Line Data and Key Metrics Changes - In the North America Solutions segment, direct margins were $260 million, up from $204 million in the previous quarter, with an average of 180 contracted rigs during Q1 [13][29] - The Offshore Gulf of Mexico segment generated a direct margin of $9.5 million, with expectations for Q2 margins between $8 million to $10 million [16] - The International Solutions segment saw an increase to 13 active rigs, with results exceeding guidance due to timing delays in costs associated with the Middle East hub [152] Market Data and Key Metrics Changes - Utilization of the active super-spec fleet is currently over 80%, supporting current pricing levels [22] - The average revenue per day for the North America Solutions segment was reported at $33,000, with expectations for further increases in the coming quarters [121][136] - The company has a revenue backlog of approximately $1.1 billion for rigs under term contract in North America [135] Company Strategy and Development Direction - The company remains focused on three strategic objectives: pricing and margin dynamics in North America, international opportunities, and investments in technology and sustainability [4] - Plans to add no more than 16 incremental rigs in North America during fiscal 2023, depending on customer demand [5] - The company is pursuing additional work in the Middle East and expects to establish an operational hub in the latter half of fiscal 2023 [124] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the outlook for 2023, citing strong customer relationships and the value proposition provided by the company [24] - The company anticipates continued upward momentum in financial results, with direct margins per day moving closer to the target level of 50% [130] - Management emphasized the importance of capital discipline and maintaining pricing power in a cyclical industry [122][164] Other Important Information - The company incurred capital expenditures of $96 million in Q1, with expectations for total CapEx in fiscal 2023 to range between $425 million to $475 million [12][139] - Approximately 844,000 shares were repurchased in December for about $39.1 million, with total fiscal 2023 repurchases reaching approximately 1.28 million shares for about $60 million [31][42] Q&A Session Summary Question: What is the company's strategy if rig demand decreases by 5% or 10%? - Management indicated that a decline of 20 to 40 rigs would be a small percentage of the overall fleet, and they would focus on pricing rather than adjusting operations significantly [35][164] Question: How does the company view the current appetite for term contracts among E&Ps? - Management noted that the appetite for term contracts remains strong, with a historical focus on maintaining 50% to 60% of contracts as term agreements [72] Question: What is the expected trend for capital expenditures? - The company expects capital expenditures to be lumpy, with timing affecting the spend across quarters [178] Question: How is the company addressing supply chain challenges? - Management highlighted that they have secured supply needs for 2023 and expect costs for materials and supplies to remain stable [74] Question: What is the outlook for performance-based contracts? - Management noted that performance-based contracts are becoming more common, with technology and automation driving increased adoption [99]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-4221 HELMERICH & PAYNE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorp ...