• In early February 2026, Helmerich & Payne reported first-quarter 2025 results showing revenue rising to US$1,017.03 million from US$677.30 million a year earlier, but swinging from net income of US$54.77 million to a net loss of US$96.71 million, or basic loss per share of US$0.98 from basic earnings per share of US$0.55.
• Despite this shift into loss, several research firms responded by expressing greater confidence in Helmerich & Payne’s prospects, citing its focus on advanced drilling technologies and efficiency improvements as reasons for a more constructive view.
• We’ll now examine how analyst optimism following Helmerich & Payne’s higher revenue but quarterly net loss may reshape its broader investment narrative.

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Helmerich & Payne Investment Narrative Recap

To own Helmerich & Payne, you have to believe its advanced drilling technology and efficiency focus can translate higher revenue into durable profitability despite a cyclical, capital intensive business. The latest quarter’s move into loss does not materially change the near term catalyst, which is still whether H&P can lift margins as its upgraded rig fleet is deployed, but it does sharpen the key risk around overcapacity and weaker day rates in a softening North American rig market.

Against that backdrop, the cluster of recent analyst target hikes looks particularly relevant. Piper Sandler lifting its price target to US$40, alongside similar moves from Barclays and TD Cowen, reflects a view that H&P’s technology led drilling solutions and efficiency gains can eventually offset the current losses and support better utilization, making these analyst reactions an important short term sentiment driver while the company works through its margin pressures.

Yet even with rising analyst targets, investors should be aware of the risk that a prolonged rig oversupply and weak U.S. shale activity could...

Helmerich & Payne's narrative projects $3.9 billion revenue and $276.0 million earnings by 2028.

Uncover how Helmerich & Payne's forecasts yield a $30.27 fair value, a 9% downside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were assuming revenue above US$4.2 billion and earnings over US$300 million by 2028, so if you are weighing that against recent losses and the risk of ongoing rig underutilization, it is worth recognizing how wide these opinion gaps are and considering how this quarter’s setback could shift both the upbeat and more cautious scenarios.

Explore 6 other fair value estimates on Helmerich & Payne - why the stock might be worth as much as 95% more than the current price!

Build Your Own Helmerich & Payne Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Helmerich & Payne research is our analysis highlighting 3 key rewards and 3 important warning signs that could impact your investment decision.
• Our free Helmerich & Payne research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Helmerich & Payne's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.