fiscal XXXX review Thanks, quarter comment position. operating financial our provide for our guidance I the as guidance second first year will Today, XXXX and fiscal John. results, reiterate full on appropriate quarter,
XXXX. completed quarter $XXX first me highlights XX, of December results company $XXX ended revenues previous for quarter. of -- Let generated the The million from quarterly million quarterly the versus with recently start
rates. edge our move As quarterly focused America increase fleet pricing revenue to to the recent primarily was toward leading expected, due average North in efforts
$XXX versus The operating count attributable million the the discussed of America quarter. November direct the increase in sequential first full rig $XXX and Total for active fiscal the costs for increase slightly our call. quarter to were quarter North is previous on labor-related higher average million
General our and than expectations. the quarter, lower administrative approximately were million expenses slightly for first $XX
part securities primarily first as which of we investment loss to on the and quarter, investment, of During market a ADNOC operations. of loss the value reported recognized consolidated of a is related statement our million, $XX fair our drilling
approximately related impairment eight in Argentina rigs. incurred to decommissioned primarily rigs in non-super-spec those also million charges and We Argentina $XX
range. within Our XX%, QX which effective is tax rate guided was approximately our previously
$X.XX in earned a per the $X.XX quarter. profit To versus summarize this H&P previous quarter's share of diluted results,
quarter items, per impacted release, share fourth highlighted an adjusted a during diluted investment earnings and share by were press $X.XX the quarter as loss first aforementioned these was in adjusted negatively Absent charges. the in $X.XX select on First versus fiscal $X.XX net per per quarter. the impairment share fiscal earnings select our of loss items including securities
were cash our the flow first $XX from cash timing expect generally comments during line our to and fiscal Similar expectations. quarter for additional these prepared spend will in $XXX of which XXXX, I in fiscal of have of in expenditures capital about million we was quarter-to-quarter. remarks. with operating our Capital the later first working CapEx H&P XXXX, generated XXXX quarter approximately vary to the million.
averaged segments, fiscal which rigs in exited rigs, North first XXX with quarter Turning first segment. to our during up guidance quarter, contracted the Solutions We an our was of fiscal beginning rigs with line three in from XXX the contracted the expectations. with We XXX average America QX.
Segment earlier. pricing, of and guidance at XXXX’s sequentially mentioned the million than direct Revenues million. average midpoint by our fourth margin fiscal due higher increased to November the of million $XX higher $XXX $XXX was as quarter sequentially
incurred In in earlier. reactivation the were rig million including QX fire loss a prior net QX, quarter. in the We lost replaced – a eight of reactivations costs million that mentioned compared addition, Xth John to reactivation $X.X $X.X during the that had in
ready being related costs the to were calendar first as preparation deployment for of incurred those in well of reactivation the as deployment months rigs quarter on XXXX. rigs, First to few nine costs ready
Total $XX,XXX labor-related first excluding the year. costs commenced previously day reimbursables increased broadly day in line to expenses, increase quarter. and quarter excluding in to of mentioned due at is fourth re-commissioning primarily re-commissioning per segment in with from This the per the including and reimbursables that beginning expectation, the the excluding fiscal $XX,XXX
ahead the North XXXX fiscal quarter of Looking for Solutions. second to America
at operators looks midpoint level XXXX activity I to who ended As by fulfill QX levels. budget at working part The albeit exit calendar earlier, of their the in quarter, to public mentioned our than driven more company the grow, to moderate we first pace continue are a guidance range.
and of expect XXXX, today's quarter of second and contracted contracted with rigs rigs. XXX we the XXX call have to As fiscal XXX we between end
year, John's Just the get could rigs maximum rig XX loss rig a the add our of stated be that number maximum one XXX have to during up revisiting of and we on to rigs previously due that, in to would we is us count, XXX. fiscal a that to fire to the clear comments
net year-end fiscal few rigs, two added to XX nine to slated months. a the go since of today XX work through over with So another have of for next we the add
North backlog term billion revenue contract. current our rigs Our Solutions fleet America $X.X for under from is roughly
US active fleet on contract. of the term today XX% approximately a of is As
still of and approximately performance mentioned is utilization. leading-edge last per bonus the call, opportunities technology As $XX,XXX revenue was on and our inclusive day
This revenue average average per in with currently XX,XXX. comparison, further sight day approximately spot per us quarters. increases to revenue over next of day provides the our day the QX for high in line few overall By the XXs revenue is a average compared per of
inclusive in segment, we million million North QX about in margins $XXX range reactivation to Solutions million, between the America effect fiscal costs. expect of $XXX In the direct to of $X
expenses. is discussed XXXX. related daily Labor As our at call, field approximately on to November fiscal of market respond rates increased the beginning labor of we XX% operating conditions to
experienced higher that, also pricing materials in fiscal is be will the to current maintenance labor materials the inflation to costs have and supply in stable and as resulting relatively expense, for accretion increases move inventory. our margin pricing edge. believe of We as and expected consumable supplies of fleet due towards We XXXX, for balance continue average leading to
International hub, Solutions working to a which developing first segment, one rig to rigs our country. end International primarily above added our delayed rig expected, exportation costs preparation for brings rig our International of associated rig that count and including in business Solutions at increased Regarding due in results as Argentina activity XX the Middle we fiscal nine quarter, in to with the active East came guidance, costs. timing by
to to reactivate expect quarter a begin quarter fiscal in toward in the second international, quarter, second the from the in costs In direct which of that look middle of expect exchange working earn any Bahrain, us will $XX or foreign XXXX million working for two rigs we As to to rig the three country. to we margin impacts. we $X bringing in we million aside incur
which seven with estimate. management contracts have to which active during segment, of four rigs of $X.X our three customer-owned we million Turning on active margin we our Gulf Offshore direct Offshore contracted, offshore a on of of and quarter, rigs line our rate. have platform Mexico generated was in the still two are
of million margin. toward the that As $XX again million quarter we of $X the between fiscal segment, will for look we direct to expect XXXX generate offshore offshore second
at in other. look I Now, activity
October liability You insurance might up wholly-owned general stop-loss line our captive set due insurance insurance increase was for to to have compensation, medical an finance this This to primarily forward adjustment of fiscal the At captive in noted automobile other XXXX we our programs our quarter. X, workers' elected a the in liability, the beginning company. start deductibles and XXXX,
of monthly operating captive on retention. in external and based pay which subsidiaries, to segments mirrored actuarial deductibles, operating the historical for captive the operating Our from results risk trends. This self-insurance of to our the transfer analysis premiums losses estimated the losses a our for
segment The included are in segments. intercompany intersegment expenses in are premiums the in consolidation. revenues in other and included expenses sales eliminated Insurance operating premium non-reportable are and
were as than For accordingly, expense XX, the three in creating in run other XXXX, the first claim developed segments. the less actuarial benefit These positive ended underwriting reserved. recent revised months estimated rate, adjusted was losses quarter December than less were a
let fiscal to fiscal update Now incurred million look spend to be with last $XXX range fiscal still me XXXX $XXX appropriate second to as fiscal between quarters. the are for the XXXX expenditures forward three to -- sorry. and quarter, full the year XXXX million, our remaining full year, Capital over guidance expected guidance,
for not the remained year for have expectations at $XXX Our and general expenses, million. full approximately administrative changed fiscal and
to of range in our in XX% stated estimating still XX%, foreign income US the variance rate are above contributed statutory of be taxes. rate XX%, We annual book-to-tax permanent to to with the tax differences effective
range cash portion in to in million, $XXX fiscal $XXX be year million as mentioned relates of income November, to which continue XXXX XXXX project fiscal a the of to taxes tax this We year. fiscal paid to
our financial Now, under Helmer credit facility, an cash and of million liquidity short-term availability approximately approximately looking our versus XX XXXX. $XXX at at XX, Campaign, September XXXX, December billion. investments our Including at million revolving equivalent $X.X position. at $XXX had remains
attributable share is seasonal repurchases balance sequential driven lockup, outlays, and The higher working recent revenue. cash flat and by was largely which cash to capital our
the cash generation and half year. fiscal second shows the in planning of Our build
million approximately short-term in is to reminder, a investments. and cash preference minimum a As of $XXX maintain our general
$XXX minimum, CapEx to plus the call, of The to capital including, flow and expect accretive cash after free after for equals dividend, November million generate flexibility of we equivalents our $XXX cash and various above supplemental considerations and base on million returns the million as that and investments shareholders. discussed allocation $XXX
repurchased December combination quarter, that Approximately, opportunity our year. During an million calendar shares at of repurchase we be saw of the million we evergreen authorization, first half $XX.X fiscal shares repurchase per some of annual four for the share accretive. a liquidity under and were to of in believe excess our XXX,XXX to approximately value latter prices shares attractive
Board In that XXXX calendar XXXX, shares bringing in million shares. calendar approximately the XXX,XXX Note, XX, five January calendar the of we million. XXXX, one the authorized total repurchased roughly authorization additional million repurchase for shares an to through $XX.X have
long-standing thus for and million and fiscal So augment dividend far, fiscal our our base totaled XXXX shares million XXXX dividend. approximately, $XX repurchases supplemental X.XX have about
to first and our the return These demonstrate Each the announced returns comments also only encompass returns October. with that actions we and of and on our repurchases company, such shareholder fiscal That shareholders. financial but not the our dividends stock to these in new base invested performance, prepared for the model items, supplemental increase quarter. focus the improving capital, concludes to return financial provided as cash combined
Let to now turn call me Nikki for questions. the over
