Thanks, guidance financial XXXX and guidance John. quarter as I on appropriate will quarter, fiscal year results, the our position. Today, provide third for XXXX operating remaining fiscal update review full comment our fourth
recently increase $XXX is our quarter and higher million consistent third for the revenue Total million were revenues million with North America to The $XX the with America direct attributable of as quarterly incurred company rig General the to in in for versus the start count me quarter, aforementioned costs sequential administrative Let $XXX generated totaled $XXX in third the previous count operating June $XXX expenses completed Solutions highlights the was previous for increase million The in This segment. Solutions quarterly versus third quarter. the activity ended additional rig XXXX. expectations. XX, million North quarter. due expected. also for quarter
Taxes approximately quarter's of primarily by annual To effective loss summarize H&P were income $X.XX impacted income a the share loss to tax diluted benefit in of was a related tax $X.XX guided change previous Our range. above rate. rate versus this tax our in was which previous positively per XX%, quarter. state the a discrete a incurred deferred results, QX
right, spending net quarter year-to-date impacted later. Third loss an more share our but adjusted select expecting which the $X.XX with quarter. in $X.XX were levels select quarter share for as previous to adjusted we significant XXXX expenditures quarter. a versus during $XX per the quarter we was third fiscal shift fiscal of per a million, highlighted our fiscal third $X.XX release. were items diluted gain in of spend Absent spending press are these will second Planned share earnings fourth per fiscal items, the Capital by the to implied our guidance. continues in discuss below loss
segments, in an averaged QX. average our XXX of with beginning fiscal contracted the Solutions up rigs North during quarter, rigs the to America three third segment. Turning from We XXX
the we fiscal exited quarter XXX with mentioned, John rigs. As third contracted
quarter as drilling the to roll third maintained Solutions higher America We the approximately expenses rigs $XX $X sequentially were rigs due XX due in onetime $XX operating sequentially The QX. increased by quarter, off into their Revenues the the approximately reactivation and had budgeted shorter-term customers million expenses rigs. increase. fiscal during XX contracts also of activity associated addition with term contracts North to aforementioned was in million million those primarily programs.
the fiscal for ahead of Looking Solutions. fourth XXXX America to quarter North
As expected, third moderate was the growth during more count quarter. rig
our contracted rigs. within of customers fiscal is to and plans. and budget As rigs, year their contracted XXX quarter Publicly today's XXX of fourth end with operate XXX to XXXX the call, calendar we between have traded continue expectation
rigs year rig late million refreshed most calendar for privately segment, between by We to So into In recent termination America opportunities range of still million were no revenue publicly $XX with early expected. add see active Solutions expect budgets gross North held driven are heading $XX to XXXX. customers. the capital customers traded we in as this additions to margins our
to continue rigs, continue pressure we margins. reactivation add As onetime to expenses
the those expenses We expect in million approximately fourth $X to be quarter.
the in reactivate last some in the reactivating will for to a the mentioned expected rig have correlation. margin reactivation Most direct XX for in it quarter rigs have length and been costs idle of for such the a mostly absence rigs be the in the October costs start-up, is of the I fourth quarter, As are time idle in That are future of XX-plus has ended we September required so the quarters said, quarter of readied accretive. Reactivation commitments. costs months. incurred quarter been costs
higher super supply. are achieve tight light and John mentioned, of As in higher we expecting ready-to-work to spec pricing demand
the due However, of will varying most realized benefits rates, XXXX. new effective be fiscal margins on to in of dates
fleet Solutions term revenue rigs backlog million North current $XXX contract. Our from America for our is roughly under
line fiscal with rigs late quarter. the Regarding our range. contribution in we Margin add X albeit International end third Solutions towards activity Solutions averaged was expectations the International segment, business approximately a quarter-on-quarter, active the and quarter, in sixth for did rig the of low
holding of in fiscal look Argentina. three contract we Bahrain under toward activity and International, rigs three currently, we our in with quarter fourth working, rigs is XXXX for have the As steady
Colombia little in is the a Further, expected is to between Bahrain fourth churn to international to a in the $X Argentina but we commence During the stack, margins exchange is as foreign rig quarter, any rig we expect our to be operations rig in from quarter, of contracted expected quarter. late gross expected a apart in work. an breakeven commence million, operating the In loss in rigs very expect additional and impacts.
Offshore Turning of to Gulf Mexico our segment.
of guided X contracted. million X our of during rigs offshore platform at quarter, high our generated is end We $X have the which continue range. to margin of gross Offshore a the
fiscal expect operating million $X nonoperating offshore XXXX offshore million conclude To the segment margin. and generate gross will As commentary, other of our we for I will results that between fourth toward $X quarter we activity. third quarter of look highlight segment, the and
reminder, fiscal insurance a at workers' liability As liability October to compensation, automobile XXXX, set from to for programs elected wholly the X, owned up captive deductibles forward. general insurance start the our XXXX, ensure we a and of
vary Our the risk on settled which subsidiaries the dismissed. The developed, operating claims captive external captive monthly self-insurance result a of premiums our retention. actuarial to from the expense get operating or annual The for pay transfer our as segments losses analysis. quarter-to-quarter underwriting to the estimated are actuarial estimated for is an deductibles, from can based
For months upward the reserves adjusted ended captive XXXX, XX, three in for were self-insurance estimated claim the June developments. the
spend Capital guided million full look the $XX fiscal for full the now quarter me let XXXX appropriate. of update expected expenditures to at of year year end previously be forward and Now low fourth fiscal the guidance expected fiscal more to $XXX are the to the range select XXXX as of due to fiscal million walking to back-end skidding some conversions spend quarter fiscal mentioned is than demand. This earlier, as weighted during result preceding year customer average. with, the as fourth three-quarter capability pad primarily a
and the for expectations the for not expenses million. administrative full general expenses Our approximately and changed remain XXXX fiscal have and full year general administrative at for $XXX
XXXX. comfortable related well difference remain tax to rate the XX% for effective tax anticipate book-to-tax also significant cash do effective foreign versus state income statutory in We permanent in and and any fiscal annual XX% range as not estimated year with as incurring is taxes. to The rate differences rate
Now position. investments availability March was looking XXXX approximately XX, at billion. liquidity facility, at million our in including $X.X $XXX financial our short-term credit We of $XXX XX, versus had approximately revolving cash and June million under
and Our at outstanding end net our exceeds bond. debt cash again our was capital about XX% to quarter position
As grade. credit a maturing reminder, until have our we XXXX, investment no and remains rating debt
operating Given dividends. our in maintenance and X.X capital to our service early year-end balances current changes expenditures, our activity will activity, earnings we levels, outlook compared to we debt see at fiscal costs for expect June balances. minimal At today's our XX believe cash fund
run a next beyond our while in generation expectations hand, that on higher, for higher activity reactivation and rising portion of cash cash activity. the least rate good quarter enable that to by expenses short at consumed will required Our working other investments be capital generation the future higher term, drives
call, earnings several carried we the our being control adjust cost parallel Since As high in a John that March are we cost spoke on last streams work structure. along advancing to priority. mentioned, remains are out
the million savings approximately Some completed operating $X expenses. fiscal items in culminate annualized be expected primarily quarter will fourth to in in in
further on be quarters are in coming working We expenses. will run optimize future that rate completed other to initiatives the
about on and future magnitude these calls of plans we expected the That structure for will progress, these cost various timing prepared comments provide our initiatives. concludes the quarter. updates As third
turn Now to over let the for Reid me call questions.
