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HP NEWS RELEASE FOR IMMEDIATE RELEASE : February 9 , 2021 • HELMERICH & PAYNE , INC . ANNOUNCES FIRST QUARTER RESULTS H & P's North America Solutions segment exited the first quarter of fiscal 2021 with 94 rigs doubling the lows experienced in August 2020 and up roughly 35 % during the quarter The Company ended the quarter with $ 524 million in cash and short - term investments and no amounts drawn on its $ 750 million revolving credit facility culminating in approximately $ 1.3 billion in available liquidity Quarterly North America Solutions operating gross margins ( 1 ) increased $ 5 million to $ 45 million sequentially , as revenues increased by $ 53 million to $ 202 million and expenses increased by $ 47 million to $ 157 million The Company reported a fiscal first quarter net loss of $ ( 0.66 ) per diluted share ; including select items ( 2 ) of $ 0.16 per diluted share H & P continues its leadership position in drilling automation technology and the evolution of the commercial model with 25 % to 30 % of our active FlexRigⓇ fleet utilizing AutoSlide® and performance - based contracts On December 11 , 2020 , the Board of Directors of the Company declared a quarterly cash dividend of $ 0.25 per share payable on March 1 , 2021 to stockholders of record at the close of business February 12 , 2021 Helmerich & Payne , Inc. ( NYSE : HP ) reported a net loss of $ 70 million or $ ( 0.66 ) per diluted share from operating revenues of $ 246 million for the quarter ended December 31 , 2020 , compared to a net loss of $ 59 million , or $ ( 0.55 ) per diluted share , on revenues of $ 208 million for the quarter ended September 30 , 2020 . The net losses per diluted share for the first quarter of fiscal year 2021 and the fourth quarter of fiscal year 2020 include $ 0.16 and $ 0.19 , respectively , of after - tax gains and losses comprised of select items ( 2 ) . For the first quarter of fiscal year 2021 , select items ( 2 ) were comprised of : • $ 0.16 of after - tax gains pertaining to the sale of an offshore platform rig , discontinued operations related to adjustments resulting from currency fluctuations , and a non - cash fair market adjustment to our equity investment Net cash used in operating activities was $ 20 million for the first quarter of fiscal year 2021 compared to net cash provided by operating activities of $ 93 million for the fourth quarter of fiscal year 2020 . Helmerich & Payne Inc. | 1437 S Boulder Ave | Suite 1400 Tulsa , OK 74119 | 918.588.5190 | helmerichpayne.com