Q1 Earnings Outperformers: Helmerich & Payne (NYSE:HP) And The Rest Of The Oilfield Services Stocks

Q1 Earnings Outperformers: Helmerich & Payne (NYSE:HP) And The Rest Of The Oilfield Services Stocks

Let's dig into the relative performance of Helmerich & Payne (NYSE:HP) and its peers as we unravel the now-completed Q1 oilfield services earnings season.

Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation.

The 26 oilfield services stocks we track reported a strong Q1. As a group, revenues beat analysts' consensus estimates by 3.8%.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10.2% since the latest earnings results.

Helmerich & Payne (NYSE:HP)

Operating the largest fleet of super-spec rigs in North America with technology that can drill horizontal wells over two miles long, Helmerich & Payne (NYSE:HP) provides drilling rigs and crews to oil and gas companies that need wells drilled to extract hydrocarbons from underground.

Helmerich & Payne reported revenues of $932.4 million, down 8.2% year on year. This print fell short of analysts' expectations by 1.9%. Overall, it was a disappointing quarter for the company with a significant miss of analysts' EPS and EBITDA estimates.

The market seems disappointed with the results as the stock is down 16.2% since reporting and currently trades at $33.38.

Is now the time to buy Helmerich & Payne? Access our full analysis of the earnings results here, it's free.

Best Q1: Select Water Solutions (NYSE:WTTR)

Managing over 24 billion barrels of produced water annually across major U.S. shale plays, Select Water Solutions (NYSE:WTTR) provides water sourcing, recycling, disposal, and treatment services for oil and gas producers.

Select Water Solutions reported revenues of $366 million, down 2.3% year on year, outperforming analysts' expectations by 6.8%. The business had an incredible quarter with a beat of analysts' EPS and EBITDA estimates.

The market seems happy with the results as the stock is up 13.8% since reporting. It currently trades at $19.63.

Story Continues

Is now the time to buy Select Water Solutions? Access our full analysis of the earnings results here, it's free.

Weakest Q1: Borr Drilling (NYSE:BORR)

Operating one of the world's youngest jack-up fleets with an average age under eight years, Borr Drilling (NYSE:BORR) operates jack-up rigs that drill oil and gas wells in shallow waters up to 400 feet deep for exploration and production companies.

Borr Drilling reported revenues of $247 million, up 14% year on year, falling short of analysts' expectations by 2.1%. It was a disappointing quarter as it posted a significant miss of analysts' EBITDA and EPS estimates.

Borr Drilling delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 32% since the results and currently trades at $4.20.

Read our full analysis of Borr Drilling's results here.

Liberty Energy (NYSE:LBRT)

Operating approximately 40 active fleets across North America's most productive shale basins, Liberty Energy (NYSE:LBRT) provides hydraulic fracturing services that help oil and gas companies extract resources from shale formations.

Liberty Energy reported revenues of $1.02 billion, up 4.5% year on year. This result surpassed analysts' expectations by 6.7%. Overall, it was an incredible quarter as it also put up a beat of analysts' EPS and EBITDA estimates.

The stock is down 10.6% since reporting and currently trades at $26.31.

Read our full, actionable report on Liberty Energy here, it's free.

ProFrac (NASDAQ:ACDC)

Operating one of the largest electric-powered fracturing fleets in North America, ProFrac (NASDAQ:ACDC) provides hydraulic fracturing services that help oil and gas companies extract hydrocarbons from underground shale formations.

ProFrac reported revenues of $449.6 million, down 25.1% year on year. This print beat analysts' expectations by 8.3%. It was a strong quarter as it also logged an impressive beat of analysts' EBITDA estimates.

ProFrac had the slowest revenue growth among its peers. The stock is down 18.5% since reporting and currently trades at $5.81.

Read our full, actionable report on ProFrac here, it's free.

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today's crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US' conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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