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HP NEWS RELEASE July 28 , 2021 • • • • • HELMERICH & PAYNE , INC . ANNOUNCES THIRD QUARTER RESULTS H & P's North America Solutions segment exited the third quarter of fiscal year 2021 with 121 active rigs , up over 10 % during the quarter The Company ended the quarter with $ 558 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 $ 11 million to $ 75 million sequentially , as revenues increased by $ 31 million to $ 281 million and expenses increased by $ 20 million to $ 206 million The Company reported a fiscal third quarter net loss of $ ( 0.52 ) per diluted share ; including select items ( 2 ) of $ 0.05 per diluted share Deployment of our drilling automation technologies and utilization of new commercial models kept pace with the increase in rig activity with roughly 25 % of our active FlexRigⓇ fleet utilizing AutoSlide® , and over 30 % of the fleet contracted with some form of performance - based contract H & P continues to invest in new and diversified technologies for long - term sustainability through geothermal opportunities as well as power management applications on the rig site On June 2 , 2021 , the Board of Directors of the Company declared a quarterly cash dividend of $ 0.25 per share , payable on August 31 , 2021 , to stockholders of record at the close of business on August 17 , 2021 Helmerich & Payne , Inc. ( NYSE : HP ) reported a net loss of $ 56 million , or $ ( 0.52 ) per diluted share , from operating revenues of $ 332 million for the quarter ended June 30 , 2021 , compared to a net loss of $ 121 million , or $ ( 1.13 ) per diluted share , on revenues of $ 296 million for the quarter ended March 31 , 2021. The net losses per diluted share for the third and second quarters of fiscal year 2021 include $ 0.05 and $ ( 0.53 ) , respectively , of after - tax gains and losses comprised of select items ( ² ) . For the third quarter of fiscal year 2021 , select items ( 2 ) were comprised of : • • $ 0.08 of after - tax gains pertaining to a non - cash fair market adjustment to our equity investment , income tax adjustments related to certain discrete tax items , and discontinued operations related to adjustments resulting from currency fluctuations $ ( 0.03 ) of after - tax losses pertaining to a non - cash impairment for fair market adjustments to decommissioned rigs that are held for sale , restructuring charges , and changes in the fair values of certain contingent liabilities Net cash provided by operating activities was $ 31 million for the third quarter of fiscal year 2021 compared to net cash provided by operating activities of $ 78 million in the prior quarter , which benefited from a large income tax refund . Helmerich & Payne Inc. | 1437 S Boulder Ave | Suite 1400 Tulsa , OK 74119 | 918.588.5190 | helmerichpayne.com