Revenue during the quarter plunged 40.10 percent to $331.71 million from $553.80 million in the previous year period. Operating margin for the quarter stood at negative 28.04 percent as compared to a negative 4.48 percent for the previous year period.

Operating loss for the quarter was $93 million, compared with an operating loss of $24.78 million in the previous year period.

president and chief executive officer John Lindsay commented, “It is good to deliver better than expected quarterly operational results in the midst of an improving U.S. land market. Our goal is to safely provide performance driven drilling services, and as we think about the future, it is helpful to properly frame where the Company is today.

Helmerich & Payne Inc has generated cash of $753.60 million from operating activities during the year, down 47.25 percent or $674.98 million, when compared with the last year.

The company has spent $234.22 million cash to meet investing activities during the year as against cash outgo of $1,154.41 million in the last year.

The company has spent $343.20 million cash to carry out financing activities during the year as against cash inflow of $94.91 million in the last year period.

Cash and cash equivalents stood at $905.56 million as on Sep. 30, 2016, up 24.15 percent or $176.18 million from $729.38 million on Sep. 30, 2015.