Thanks, Today, for will and appropriate I XXXX on and and financial provide fourth first review our position. quarter guidance full XXXX the is fiscal results; fiscal year full comment operating year John. quarter our
expensive million for quarter in $XXX price quarterly expectations. versus primarily exiting revenue and is The sum XXXX, revenues pension the approximately relates expense this million increase the previous higher in for North increases generated expenses with start but quarter and typically for fourth which for total Let inflation, year greater distribution $X being of for $XXX versus operating company by income million was maintenance with up million, supply continued driven by a our quarter-to-quarter, previous structural recently loss $XXX administrative plan. quarter fiscal in to Solutions the me driven costs for The Solutions and in totaled highlights of incurred sequential completed the XXXX, million In see ended volatility increase XX, fourth the Correspondingly, ended end America which participants line fleet. September the direct to for $XXX million North fiscal quarter, the and the was in we $XXX on our were quarter. quarter. the the extent million General fourth other of that was quarter. some a a $XX which lump America range
book effective statutory of tax than which of XX% and rate approximately differences. permanent income higher rate Our QX because tax to the was XX%, income foreign taxes is primarily
with To XXXX, of filing results, to crossed H&P extended $X.XX pay additional in of of line towards the in taxes the January $X.XX per which quarter per net fiscal item. aforementioned adjusted the our select the million third compared was a of quarter, we share approximately in fiscal an adjusted by remains fourth share $X.XX versus range of cash diluted fourth totaled profit per the impacted Earnings we million, earnings a up the $XXX fiscal made the per return primarily we to of profitable share select the Capital tax XXXX share plan with year, expenditures $XX $X.XX negatively quarter. accrued was of for As items XXXX. contingent was that in XXXX. quarter. U.S. the end earned $X.XX loss we become in the summarize which of previous were established [ph] fiscal items, during fiscal which November Absent within diluted
John’s million during in operating comments of with rig limited we strategy market and H&P churn, For capital cash our mid-fiscal-year flow XXXX. keeping $XXX our on discipline. fiscal previous reactivations generated
we As dividend sheet even able CapEx well. this our some same as were the to base the And fully in and cash flow quarter, last and funded to balance quarter, discussed do cash our added we generation QX.
discuss remarks. accretive XXXX generation We later FY will these cash in
increases averaged North the as from XXX the with expected. QX. XXX contracted sequentially quarter, the beginning rigs America of Solutions $XXX than in of pricing with our of segments market quarter spot X contracted million. Revenues guidance the in by third quarter margin and XXX for July fiscal to we million rollovers. rigs rigs average fourth were due just the million segment, up fourth $XX our during top exited repricing fiscal We our fiscal $XX term an was and below to rigs direct continued by higher Segment the end sequentially Turning higher
quarter primarily are rigs segment of QX first compared costs the $X.X in few of as fourth million quarter. to the reactivation million expenses, cost being XXXX. during to day I mentioned maintenance due $X.X The of the in XX,XXX incurred QX the quarter. expense was in excluding third increased normal and well our in per as that volatility, reactivation addition, prior day related to deployment costs per primarily expectation the supplies fiscal recommissioning excluding reimbursables inflation previously. for prepared were XX,XXX months to This above In Total from
end for expectations rigs Solutions, line expect to with of ahead rigs quarter XXX for the by to quarter working January, few XXX sight XXX fiscal Looking XXXX our end the a first additional with call, North early we and today’s we and to of and rigs for XXX between contracted, fiscal QX. as as fiscal America up with in first have of of
our is North contract. Solutions Our million current term from under $XXX fleet America rigs revenue backlog roughly for at
of of in from two-thirds term fleet June As is the XX term one, strategic fiscal increase approximately is a performance quarter some as active of on the term well value the two, term in requiring for or $XXX XXXX is as due September extensions today, million contracts; to: customers. XX first U.S. reactivation to and contract, contracts approximately
now XX term rolling rolling contracts, March rigs half from XX, off of However, through with about off have XX. March we on almost
of would an Accordingly, type average for rigs of our pricing these rigs term is day the more of of example, the these remaining the average if market, pricing of term removed were of in each all benefit rigs expect term contracts. simply result roughly rolling created a term spot to legacy as level As tailwind lower per rigs remaining a next oversimplified rolled off couple we the X,XXX from to over the price rigs quarters average. under
effect XXXX. end between million the first revenue million average between fiscal percentage of expect in of the In $XXX million fiscal day North on term $XXX our to rigs $X.X reactivation per $XX,XXX about QX day. segment, in to to by America and Solutions the costs. be expect inclusive direct We still XX% be about to in for quarter per margins the the we fleet fiscal we reference, expect For U.S. XX% range of of term the
recent and the and field retention related conditions increased labor of fiscal XXXX, start attraction. of year to to respond in we As market rates talent assist
to margin related daily costs are recent As Therefore, a of approximately to threshold. reminder, such largely protections. significant pass increases are time the adoption through neutral our increases related are Also, are labor $XXX these structured at a day. to labor contracts approximately contractual due labor over XX% X% costs our XX% per increases of and
labor in is margin and for materials the guidance direct Our inclusive expectations quarter. our of first fiscal inflation
International activity having the expected XX quarter to the in in our International as increased and X Colombia. X segment, business Regarding X with quarter rigs added exit Solutions rigs; by Argentina Solutions in late
upgrades a in rig release, upgrading in press using Argentina demand In toward we As to XXXX another performed quarter of we local benefit and our X to of full recently are are October for quarter the These look add in Argentina first the currency for Argentina fiscal rig International, expect added from to rigs unconventional we customer super-spec. intended mentioned and drilling. meet ongoing Colombia.
have X fiscal this and the December X upgrade XX by the not year. by XX will super-spec FlexRig is are that to of working fleet of We end plan
reasonable FlexRigs East We further also at drilling unconventional preparation incur more to targeted expect we expenses continue Middle of as our export operations. develop hub to super-spec to will inclusive be that
direct to quarter. first from contribution between Aside expect million margin have we million $XX foreign any impacts, to $X exchange the in
quarter not XXXX, burgeoning on forward around have While of project. Resources by to read rig for was the our in our may activity your until fiscal unconventional Tamboran horizon And opportunities recent bringing we you unconventional plays Australia Australia. will contribute contract to fourth adding of to look planning long-term with long-term investment in reports value it expertise globally. and this experience the
And successful we’re growth. half a work, will the that of Australia no emerging an their is are H&P’s in with key if super-spec be drilling. customer Australia region the rig scheduled unconventional there to customers in in this for Beetaloo hopeful being Our acreage suitable the current our in has international gas And for Basin. that are first such new first year. play ship during rigs delineation
offshore Gulf Turning during which of offshore we to million range. our X contracted, segment, Offshore guided our Mexico margin generated have direct – of X rig the $X within our was rigs platform quarter, of
between it $X As we million first XXXX will margin. fiscal $XX look the direct generate toward we the expected segment, offshore of quarter million of to for
look first consolidated me the items. year fiscal to fiscal and and forward let XXXX for quarter corporate Now, certain full
full year our This X expected expenditures comprised of increase XXXX international domestic capital and $XXX is million range rig corporate to the spend. capital between are $XXX million. we plus outlay for fiscal to count, buckets As
As conversion. X CapEx maintenance and July segment America on North has buckets, discussed the our reactivation call,
Our high between $X.X and anticipated $X.X maintenance push bucket active the of rig. end above The is to be of range CapEx per our million million cost per to XXXX historical is range of expected active to $X rig. million $XXX,XXX fiscal
in mentioned twofold. capital our utilizing rigs. idle to company component spending reduced preserved the from spending when due press during for this As One the October judiciously equipment the release, pandemic reasons the is by years are
making up for we’re spending those deferments. Now capital
reason The is chain supply the current and second inflationary environment challenges.
for rig fiscal XXXX our program. which $X is the up CapEx U.S. bucket, for market. componentry first North bucket stacked America the XXXX the spend CapEx is bucket that rig the NAS rig months Such to for second in the the the We rig to plan our for the to convert specific rigs much for time, planned to that during for walking and protracted half reactivation reactivation have million conversion segment anticipated X fiscal each rigs utilize will million new involved. the in includes overhaul of that optimally The for is to reactivation $X plan some continuation depending XXXX required been we reactivations a the The of redeployment to of is for componentry first X particular on relates final conversion from unique range discreet be downturn. of month to incurred XX XX of of
incurring million also second the skidding U.S. we International are in to and also stacked $X X approximately are million $X of spend per rig. conversions $X X segment the and second, walking in walking to maintenance in those the to rigs converting X be super-spec; areas and which mentioned recommissioning half skidding first, collectively Offshore from of upgrading CapEx our for rigs fiscal year active Argentina the expected will the be as third, has rig. per reminder, for to we’re X concentration: exported; a International conversions, million total segments earlier, As are The CapEx
to are hardware investments our this Two-thirds U.S. including U.S. related, our our note fleet corporate Finally, modest enhanced be for cybersecurity. year of geographic infrastructure, $XXX to fiscal future for margin well improvements planned communications our XXXX growth investing order; year, and that about international XX% domestically we X capabilities, will as margin are of reactivations Depreciation our capital to CapEx. are as in expected as super-spec the CapEx is technology rig It with further well information data replacements, for comments fiscal remaining lifecycle is generation as after XX be have growth this and important growth international is in overarching as we or capital up investing diversity. and XX expenditures in located exports, years. in rig and upcoming first, stacked A FlexRigs approximately few to million. XXXX expected maintain is to year-over-year, internationally U.S. future planned
flow in more you revenue comment in intensity, be a minutes. years XXXX fiscal reduced This the I among if return as will we intensity and it Second, capital been the percentage of lowest generation in should which of capital measure XXXX as the which pandemic in a cash results years exclude last XXXX XX on has and CapEx few
guidance our barring committed to are Finally, XXXX markets. for XXXX, the any international like in fiscal investment fiscal opportunities unexpected CapEx we
is which working. to rigs expenses are year approximately from average million, full completed, $XXX XXX expected up an the which recently administrative XXXX be and had the general fiscal year Our for of
the approximately million While per annual when had we there’s going run rigs G&A quarter under we into pandemic, had just XXX spend, rate $XX working. this the
same time, less inflationary operate a about We’re of essence, with for expecting support support capabilities number we’re rigs an In same a building doing And at little to international environment. costs. bit to growth. in the more we’re the future
over of spread about million proportionally we X in final expect the $XX Specifically, the QX with expense quarters. remainder
such We Our as to largely approximately $XX anticipate important fiscal and quality R&D our expenditures customers and research be drilling development on automation, wellbore in power to million management. investment remains XXXX. and focused solutions
a profitability, U.S. we As to quarterly our result taxpayer. of once return estimated becoming are a again
consolidated XXXX CapEx, tax of fiscal expecting fiscal of and not of to tax of are XXXX variance cash impact million of fiscal foreign an It $XXX income liability of for to $XX range results our million, a than cash include the above collected operating to million rate approximately resulting $XX tax in XXXX fiscal range Of $XXX statutory fiscal rate estimate we million. projecting activity. were XX% tax we be XX% taxes. the end. a in off on fiscal effective roll noted We year $XX $XXX the state relates in XX% which driven receivables to in million to million taxes estimated currently should $XXX XXXX, $XX U.S. and these related note, ranges with deferred XXXX less paid Based XX, which range by September that October million to are federal do subsequently about of million tax after is be upon XXXX,
Earlier, mentioned pricing Whenever year, increases, as flow I uplifts create with of credit case across operations our for following expected a $XXX $XXX fiscal expect components at QX at the availability again cash financial cash expected capital had in in Including in quarters the reactivations Helmerich short-term revolving million XXXX. versus looking experience reduce fiscal fiscal & flow XXXX, lower approximately cash Payne $X.X Fiscal at the approximately we XXXX. to facility receivables remains XX, cash cash. changes from and working XXXX September our the due expect and investments to XX. the of as in position. generation June the liquidity use price ongoing rising is rig We under as planned billion. to million of increases. revenue Now, was fiscal
levels earlier. ROIC in cost As and, line year John back be digits capital. are expected as into the fiscal mentioned, well excess moving double across should level therefore, weighted with and an be through These of as average in fiscal returns our the XXXX seen estimated of average in to XXXX, in measured our
approval, As XX% release to established announced the dividends. after of which million, we base dividends subject approximately to supplemental cash after board flow pay remaining plan in XXXX of our is across approximately ongoing October CapEx our fiscal and press $XXX
results two-thirds these of a essence, flow in shareholders, full CapEx in cash after retained flexibility. with to So one-third return for
of cash As debt. unallocated, million expect and fiscal flexible between end $XXX and this of year million to $XXX with today, we $XX million $XXX to would million the with $XXX net million of
our However, past the that cash and XX shareholders comments further reassess we share of capital fourth quarter. years that for additional is share to shareholders allocation to cash prepared return roughly going look the returning with through dividends Rather year to have plans said, to not toward the for the intention. eye the this add $X.X we That billion and the fiscal concludes current throughout dividends during longstanding priority, our investment forward, our repurchases. will opportunities. accretive an allocation add repurchases, opportunistic to and/or That
me turn the questions. now Let call to Ashley for over
