comment financial year provide Thanks, for guidance operating our XXXX update John. our fiscal appropriate fiscal and as review the Today, third full fourth guidance on I will quarter results, position. quarter, XXXX
land a with is million in start $XXX company segments working for U.S. the third decrease primarily as in highlights $XXX The completed to the Let's the revenues The generated the previous due million quarter. revenue quarter. recently quarterly expected. number versus rigs decrease average of in quarterly in
costs supplies to self-insurance which of statement decommission the versus down land, in related Total in which were write higher days. quarter. in and than Also primarily and through income on will line drilling expected flowed the were separate was more third expenses materials and item I certain contributing operating the now to in direct and for which million U.S. and OpEx attributable describe $XXX previous incurred the was inventories spares for a the $XXX detail. is equipment a is increase despite The decrease quarter revenue million and
international During to this was objective asset margins the third and the enhance a four quarter end group rig will was provide groups utilization asset concluded groups. assessment four marketing The this June two of the assessment fiscal the of economic flex our maximize most these rig of that assessment domestic XXXX, optimal detailed asset In of the outcome. flex a and performed. smaller fleet
rigs As number rigs have we marketed to international rig domestic the U.S. internationally. in to XX from XX drilling the for from XX customers to rigs and such X and flex of downsized
fleet. capital of study spares and support equipment, ending Major appropriate PP&E. downsizing of components of write of This drilling for were performed rig process to in to X% resulted the quantities resulting identify support the rig a to added required decommissioned roughly our non-cash support is this drilling excess following fleet, needs operating impairment detailed capitals from million, future which then in of the was a our rigs the net and capital equipment $XXX.X spares ongoing spares down
expenses totaled year for for guidance. our full million the General below previous quarter. is This $XX and administrative the rate third run
tax statutory due loss. and is of foreign The as rate rate pre-tax on it income income for income discrete below rate the state the to tax quarter tax was XX% approximately federal the incremental benefits Our is and effective taxes. XX% certain calculated
of loss the per Summarizing this share, of in $X.XX $X.XX quarter. versus H&P a diluted incurred previous the overall earning results quarter,
Third per net impairment. including select press impacted highlighted items release the share were as quarter $X.XX share earnings and per our by negatively aforementioned in
third an adjusted adjusted diluted the the select the quarter. items per Absent versus fiscal share $X.XX $X.XX quarter were in during earnings second
million, low Capital guidance. fiscal year quarter have of our or fiscal date XX% extended expenditures we for about were of million $XXX CapEx $XX third full the to XXXX XXXX the end year
of Land to beginning third from four end rigs H&P share to XXX end. U.S. quarter which with the with maintained quarter rigs a exited of segments U.S. and X% was Segment, quarter quarter-to-quarter. Turning approximately we contracted active over Land XX% market fiscal number our the decrease
reductions in we discussed, active some expect fourth John see in to As the quarter. fiscal rigs further
in to average Despite level utilization our super-spec some quarter third softening percentile expect remained class We in pricing fiscal conditions space. super-spec the XX rig market an market range. mid the the during firm see
per for above $XX,XXX increased quarter to Our our excluding day revenue average termination revenue early the rig guidance. slightly
per expenses previously $XXX write-down. that approximately adoption of the to primarily self last per above day increased our and Included than here fleet, This from across is per inventory aforementioned increasing revenues due day adjusted the higher is insurance the up rig offerings average range expected quarter. rig The FlexApp $XX,XXX. guided our expense are $XXX customer to
XX% over Land, see to Most plans rig but continued their Looking quarter during releases quarter XXX half remainder with our the assessing the XXXX have for customers this year. have of ahead fiscal spent working, of And oil exited of we year. calendar the U.S. in now fourth they of market. of to for the volatile budgets first the rigs are the
the expect a point that don't will their rig reached. reach do stabilize, budgets. rate once customer balancing visibility have an of count aligns to eventually absolute with industry's spend when We said, we be that That run
We rig result in of a the and are count rigs XXX that to revenue XXX the translates approximately X% number quarterly we currently between rigs. to which rigs expectation will XXX an XXX sequential in with the days, quarter. decrease average an X% U.S. would with operating active approximately fourth quarter in today of the of exit during This
have fourth within idle to adjusted margins XX,XXX XX,XXX initial be market transitioning super-spec to have range XX rise. be the the technologies rigs quarter we expect put now and at rig super-spec to displace opportunities to whose we to rigs third XX,XXX. upgradeable from average work the Compared a back our to as in are XX the excludes as tightens and segments the to that associated to per legacy the FlexApp day, H&P objective to continue Although, revenue This per revenues range these currently will FlexRigs day we quarter. is
XX,XXX The expense U.S. range related And directly per for super-spec Land remains working to segments remain approximately per normalized the remains leading XX,XXX is day mid-XXs mid-XXs. average the in our in quarter. in day. spot edge average day rigs rate to the average and both and pricing of rig rig low be market the fourth expected to per The range FlexRig term the in in day to expense XX,XXX a the
of upgrades a expenses down. begun number Note that have reduced upfront come with to reactivation
third costs quarter. as under So rigs. or active of somewhat this Decommissioning is the a rigs during offset idling in working being be costs is also additional XXX rigs. incurred the our XXX And XX% had number term contracts by the previously for We an XXX near-term released flexible of today recently discussed. of average about will rigs that
fourth average in rates. an have the the to contract quarter, under rigs term expect current fiscal day earning XXX average of We
contracts the of the For $XXX day rings term about under associated higher that the per end average. rate XX today's day currently than through remain is fiscal XXXX,
decreased adjusted in margin The average Regarding work day $XXXX slightly rigs calls and third of due segment our to Argentina international the reactivation $XXXX QX. decreased revenue QX quarterly that of this in per the an due below early fiscal our X% and land guidance was to quarter segments, in quarter. the for in to decrease in a start rig The by up days primarily third Bahrain. in the termination fiscal to return will number
XX days revenue fourth in approximately look are to we XXXX XX quarter slightly active quarter segment. fourth international, an rig average expected increase quarterly fiscal of towards As the to rigs count the with of for
rig super Argentine is international the flat commence average $XXXX the to The in midway for flex quarter startup to is first per rigs. to relatively this operations through be scheduled due fourth expected fourth day to costs rig spec during Our in $XXXX quarter. Argentina margin between
to experience QX. in moves we Argentina longer within times will non-operational Additionally, due rig
insurance Turning the a quarter, sequentially from the offshore day a per than rigs segment, in revenues operations The rate six of rate change lower continued average change to rate margin as during being standby working quarter. to effect we expected well impacted to self mentioned a previously expenses. fiscal for the most had as with rig and quarter the in our positively increased active which rig due third
As toward segment. XXXX, offshore of quarter we fiscal fourth look the for our
is the relatively flat We the to rigs day have six quarter. expected the contracted, during of fourth eight rig $XX,XXX per offshore in of be $XX,XXX average range margin or
our at H&P looking segment. Now Technology
used in initially These be much auto rigs were non-H&P are are that motive of apps have flex us Two moving interest in the on we apps developed six our John software apps big the service. in system and of rig system on mentioned, for apps H&P a will deployed offering. quarter. our on to guidance as flex our the top Magvar technologies As slide expressed flex via fourth operating Customers these using same way the in rigs.
are Combining research the on We offerings HPT and of on process move expands our commencing toward other and software determining to applications software available of now customers roadmap rig operating how systems. development into service drilling just to the make industry. our our efforts all for our as solutions to focuses our technology we continue automated
guidance, Beginning next our consistent range with issuing this are a the guidance revenue drilling quarter's with in guidance quarter for we forward segments. HPT for the
is customer with new model. industry is million successes HPT also certainty. hard $XX between a mentioned to ongoing expecting the Remember to are for new our QX earlier, not only inclusive adoption be million flex that even of in We with revenue to that HPT $XX widespread segment, John apps. business but a And predict
fiscal Now, corporate look on items of forward remainder XXXX. me the for let
backlog rigs land least with term with U.S. of for under months the billion. approximately provisions, early fixed termination and at we contracts revenue contract contain rigs which define they for X current there's as fleet original $X.X Our terms
Capital expenditures fiscal are million. for million guided XXX come range to the the to low-end full of at in from XXX our expected XXXX
capacity super-spec in of one to quarter. the to remaining FlexRigs have two fiscal upgrades We fourth
our starting current rig We maintenance activity see are CapEx to reduced given levels.
round Finally, fourth on of lead CapEx. long quarter purchase some our the items of completion both our will down
rig year. process. Maintenance counts. million our from rig typically closely capital Given per XXth correlate per have fiscal active our ranges XXX,XXX begun we our CapEx maintenance to FlexRig with annual X between September year-end, will budgeting operating
Our X.XX annual international rigs million incur and million rig X offshore per to maintenance CapEx. active approximately and
count. This completed with today's rig
spend budget total million. across Our operating would all roughly contemplate XXX segments a of capital with rigs approximately maintenance $XXX a of
information Our items. corporate expenditures, first After infrastructure idle any rigs and adding to super-spec and prior redeploy goal projects conducting special will including be to plan in upgrades. technology
Depreciation Our than this XXXX is fiscal opportunities to XXXX approximately for million, below fiscal XX than plus the international to any a which growth or XX% to more total reduce XXX will and total is related CapEx due of $XXX be upgrades and less for current year. previous expected than fiscal total is an been accelerated less million revised about or have previously additional mentioned super-spec combined million to so primarily abandonments FlexRig upgrades. XXX that guidance million The impairment. depreciation excluding
planned of Our final come Versus in general of today versus XXX rigs. Note and guidance G&A, year operating under administrative fiscal full today sorry. XXX expenses total. is rigs, rigs XXX our operating for when a with less to than in million our XXXX we U.S. the this prior are now year XXXX rig ended projection expected the the XXX count just
We we are statutory of QX to XX% and now our U.S. to tax incur the be foreign rate state XX% in range in addition the to that taxes. income protecting effective rate incremental
our now million of million Payne XX, XXth financial And position, looking had March cash short-term and versus XXX $XXX June at Helmerich approximately at at XXXX. & investments
operations on We cash flow in $XXX as of and expenditures. in operating from generated capital, this networking due flow was as working are reduced in segments the initiatives cash sequential adjusting our new fiscal activity portion approximately flow to capital capital optimize capital million changes, related third both approximately A unlock QX. our XXX to increased a cash in for quarter When quarter. of million from operations working to discipline well
approximately million $XX XXX, After our networking of of roughly outside million accretion approximately million. and quarterly XX in XX cash capital sorry, funding CapEx of changes. of our paying dividend had QX We
maturing peer our group Our in was XXXX. measurement H&P The end has about capital quarter at XX%. best debt amongst no debt until class to continued
strength, and the of take maintain capital dividends. to through shareholders practice of to flexibility term H&P returning and Our our balance advantage level, provide liquidity opportunities, adapt long contract market backlogs conditions, to sheet
prepared concludes fiscal for third That our comments the quarter.
to Let call for turn Tony the me questions. now over
