I guidance on comment and quarter our quarter XXXX provide fiscal Today, John. will review for full decision. as fiscal financial operating results update the appropriate, guidance third year Thanks, our second XX
revenues quarterly of million Let me million start ended quarter completed with versus highlights for XX, $XXX $XXX quarter. recently generated previous second The the the XX. March in company
we've quarterly spending. calendar to well to expected, as drilling in revenue in expectations count North America second quarter due impact the as for our increase increase compensation from quarter $XX recount execution sales commit guidance well As remarks. in that activity Administrative in previous correlated operators XXXX to the the our activity. solutions expenses to to Further, was deferred benefited of in and in General part the higher additional continued as rapid will increased mentioned these earnings unnecessary were incurred by on mark aforementioned million due costs noncash operating previous two our price on infrastructure the as is call. on $XXX teams the our stock XX versus second million wage market operations that than totaled our previous sequential part call. our are attributable for quarter to quarter come ID Total full $XXX in G&A direct John approximately increase and quarter. the later higher increases mentioned The February quarter and rig adjustments price, That as in million for
$X.XX $XX our additional versus To the results, the part operations. in realized per this approximately million value related consolidated incurred $X.XX drilling to loss of we a share quarter, quarter's fair of gain previous market is as investment of ADNOC second the diluted reported securities statements of During of H&P loss of our a investment on quarter. a summarize which on gains
the in quarter mentioned. these our by a million, run second per second items that adjusted quarter positively $XX share per gain adjusted loss XX release, I first was The diluted net share investment share of including the securities $X.XX expenditures just earnings the loss slightly fiscal our select $X.XX for quarterly select as highlighted Absent $X.XX quarter. in the were of versus below press on impacted per fiscal items rate during fiscal guidance. quarter an previous Capital second implied were
quarter of second sourcing and that later fiscal the training as includes And some to second copper. of to raw approximately continue half in flow we'll CapEx of during the during million the suppliers been first and was reminder $XX H&P such as steel of year rebuild was also additional has hiring The timing labor As and below and offline a million. key lead the these $XX COVID quarter This cash guidance pushed our at have taken generated spending restrictions. the capital comments XX. about in working of long materials remarks. cash operating capacity
QX will These the expected, increased were quarter in rates. direct guidance conversions of have compared than Turning beginning contracted these of costs to that when idle. fiscal due OpEx length are contracted count in added on is to the the spec and the fiscal rig stacked on to put XXX quarter quarter. million than our increases. XXX America skating reactivation for for a has quarter on Revenues prior exited solutions. QX, or increased solutions increase during increase line top We rigs We pricing second higher quarter with activity in America higher fiscal by to rigs. in [Indiscernible] guidance of mentioned margin at rigs million. XX up second fiscal the first February we million future costs time with and pressure the to in XX with rigs, the rigs to rig three and costs super higher cure costs rig the due an fiscalQX. and given we quarter quarters million were quarters XXX from was year aforementioned Further, basis which North our with solutions drilling XX expect incurred reactivation we average inflation the the end XX.X Overall completed call. were quarter our XXX sequentially the including segments, North I for to to and sequentially was sequential America XX.X two starting the ahead Activation The against the North in costs our reactivation expectations. during that the Segment on previously an the as averaged Rig to stated wage count as XX segment, prior million of increase incurred the continue years. for looking second drag been Accordingly, average upward $XX Flex third segment plus
range. As I mentioned earlier, we ended QX near the midpoint of our exit guidance
As expenditures their rigs. XXXX. annual We with expenses their will capital within Due reactivate public customers fiscal the rate calendar year this of year, holding until for the last these calendar calendar commenced plans. many operating budgeting the of budgeted when long and believe activity customers their end activation, required annually discipline to idled are to continue cycles
We have undertaken fiscal two year. initiatives this
fiscal active get year. doing the our commitments as CapEx are are rigs this our further for budget, next we're to into much customers reactivating year fleet. we on across existing And line beyond pricing within the our we fiscal planning like fiscal holding increasing First, second, remain
We for will a return to investments ensure bring significant rigs required the on the terms in rig only back and effects reactivating online. pricing be that CapEx
approximately As call, to of of the and we with have today's rigs we XXX quarter rates. in contracted third contracted fiscal XXX XX expect
roughly is XXX revenue solutions backlog under million America from term our fleet Our contracts. rigs current North for
not base is As a rate quarter. include if well are This the H&P additional once can above a mentioned and day KPIs met, does performance last figure rig earn completed. margin
to the levels driven that margins. to in at significant times. level acid. longer not order our pricing targeted mentioned is despite pricing inflation, Since we operating John perspective cycle the in wells on drilling have US costs grade pricing peak pricing towards subsequent drive and investments returned XXXX, that achieving focus high by XX% On top Our shorter of rising to the cycles capital super required fleet in
corporate goal cost achieving our returns capital. focus of Our to our tied margin on level blended greater than are is of this estimated
unfortunate call as last Following geopolitical our costs constraints capacity increasing. pressures since on chain supply are earnings developments as on inflationary well the
up increase XX% the than these make less may costs cost of a daily While operating rig. on inflation
with supplies. inclusive to margins of expect materials also XXX XXX X.X between we reactivation Our our to QX. suppliers range solutions reg deliveries in in costs access of work And the scale segment us million, to ensure and North the key to to enables American effect about of timely million
second Regarding active rigs our fiscal international the the solutions activity business segment, end international six quarter. decreased of two rigs by to solutions at
As last changes a quarter, offsetting were above results drilling but that added We had expected to International guidance rig as immaterial customer's idled a Bahrain items. due discussed in rigs we multiple unexpectedly game. schedule. two in in rig the transitory due released Argentina to
aside As in the Argentina rigs quarter of from between add I mentioned, that X the We we impacts we well nine month third any to margin due fiscal add The our mortar of look expect end a the region third the getting by two towards quarter, rigs initial. to international ring site quarter. working we foreign expenses black direct to and exchange us internationally in to as loss to this the startups QX. for million Colombia to have of XX just expect three associated a this rig second with as further expect in
owned X.X generated of above costs. during due which April end on to estimate two drag about expected lower four Offshore Gulf the offshore versus quarter, We where platforms all Mexico than is and of rigs contracts have our high QX. rates the now drilling are margin full four of management contracted of of our our customer three Turning to our it's on offshore segment. still seven on million of
the X generate X that million will of quarter three all the margin, as drilling the our of segment, of offshore we and offshore look of quarter. fiscal between we As full we contracts and the rates expect direct XX for for majority management third toward have will
third quarter as to XXX at me midpoint last the two the XX fiscal and XXX appropriate. distributed full look fiscal evenly quarters. remaining to to year between update of over range Now, fiscal year fairly forward expected the million million let XXX guidance still to are Capital spend approximately expenditures be full fiscal for with the
is the to due The Our quarter expectations which for factors now fiscal expenses million. the as administrative guidance increase general are results expected year over to XXXX mentioned. of previously for our drove be just second full XXX
given stronger out plans expected in relative conditions read for expectations to we planned of addition, market our count growth. our East Middle year cost and some eliminated than second in fiscal the In half our November, the higher to support previously have the efforts
not will variability as effective statutory that We income the expected result provision tax levels an tax items said, to tax be is in rate fiscal XX our US a for providing in are range estimated that income tax impacting be wide rate. estimated XX%. at rate With effective the being in
state tax provision. tax cash In range to taxes no we foreign of to differences book and X addition, our are and guided XX There previously of impact anticipated to expecting incremental income million. the change is permanent to
position, capital, million. And debt a amongst availability XX to group. remaining in sequential debt reminder, and debt versus XX XX. is year. and We leverage was to December credit Now half metrics to term million less of expected liquidity and our XX, a of X.X this than investments was quarter goal revolving rating attributable decrease billion about our looking as Agency’s remains was to Debt XX%. the during XXXX, best in our be XXXX months March capital times approximately at and currently an our in fiscal equivalent class XXX two net financial our million and sole second including facility repurchases, activity, outstanding $XXX due The contain geothermal XXX And short in January approximately of our our term debt March grade. had trailing of to term investment long continue some peer matures gross largely share XX. our cast lockup number reach credit approximately expect increased our at investments, working
last call, our use XX of on was rig count the rigs. rises, working shows that the capital as substantial our mentioned a addition funds, as of I As given up quarter and during
investments March XXX continue flow of this background, fiscal of fiscal million have to line expect in well we receivable QX, accounts date million year. these year approximately XX Apart $XX operations subsequent in the to sight. March from to remainder December within generation activities million million by a and Our approximately near some XX in as XX been our our potential due million XX. to from With that operations, investing to our additional of of GALILEO in XXX cash XX resumed first investment to term geothermal as about grow as expected, that through was as grew half positive investments
short we XXX expect end to guided million hand range of on on XXX year of of today, XXX the the fiscal investments between million with As to term and XXX the February to call. cash from down
the cash fiscal in stage As of set I early fully rate February for dividend second maintenance in generation estimation and beginning in year mentioned QX half are count accretion. growth call, platform for a cash fiscal in the CapEx that the provides the covers on the and year our and the the
capital considering our prepared build, second strategies for including comments shareholder John cash allocation quarter. fiscal company is for the any future for That As concludes the stated, returns.
now the turn to Nicky questions. call Let for me over
