TULSA, Okla. (AP) _ Helmerich & Payne Inc. (HP) on Thursday reported a fiscal fourth-quarter loss of $59 million, after reporting a profit in the same period a year earlier.
The Tulsa, Oklahoma-based company said it had a loss of 55 cents per share. Losses, adjusted for non-recurring gains and to account for discontinued operations, came to 74 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 80 cents per share.
The oil and gas well-drilling contractor posted revenue of $208.3 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $212.4 million.
For the year, the company reported that its loss widened to $494.5 million, or $4.60 per share. Revenue was reported as $1.77 billion.
Helmerich & Payne shares have dropped 54% since the beginning of the year, while the Standard & Poor's 500 index has increased 11%. In the final minutes of trading on Thursday, shares hit $20.75, a fall of 46% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HP at https://www.zacks.com/ap/HP
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