How did HP's revenue and expenses trend in Q1 2025 compared to previous quarters?

**Helmerich & Payne Inc. (HP) experienced a decline in revenue and an increase in expenses in Q1 2025 compared to the previous quarter, Q1 2024**: 1. **Revenue Trend**: - In Q1 2025, HP's revenue decreased to $677 million, down from $693 million in Q1 2024. - This decline was slightly offset by an increase in revenue per day for the North America Solutions segment, which rose to $38,300. 2. **Expense Trend**: - Direct Operating Costs increased to $413 million in Q1 2025, up from $409 million in Q1 2024. - The increase in expenses was primarily due to higher labor-related costs and start-up expenses associated with the KCA Deutag acquisition and operations in Saudi Arabia. 3. **Net Income Impact**: - Despite the revenue decline and increased expenses, HP reported a net income of $0.54 per diluted share in Q1 2025, negatively impacted by a net $0.17 loss per share from select items. - Adjusted Diluted Earnings per Share was $0.71, compared to $0.76 in the previous quarter. 4. **Segmental Performance**: - The North American Solutions segment experienced a decrease in operating revenues to $266 million, down from $274 million in the previous quarter. - The International Solutions segment's revenue was below guidance due to slower-than-expected activity in Saudi Arabia. In summary, HP faced challenges with revenue decline and increased expenses in Q1 2025 compared to Q1 2024, primarily due to operational and strategic factors related to international growth and start-up costs. Despite these challenges, the company maintained a positive net income and continued to show resilience in its core North American Solutions segment.