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Exam Code: HPE6-A45 Practice test 2022 by Killexams.com team
HPE6-A45 Implementing Aruba Campus Switching Solutions

Exam ID : HPE6-A45
Exam Title : Implementing Aruba Campus Switching Solutions
Exam type : Proctored
Exam duration : 1 hour 30 minutes
Exam length : 60 questions
Passing score : 67%
Delivery languages : English, Japanese

This course teaches you how to implement and operate enterpriselevel Aruba campus switching solutions. Hand-on labs deliver you experience with ArubaOS-Switches, including securing access, redundancy technologies such as Multiple Spanning Tree Protocol (MSTP), link aggregation techniques including Link Aggregation Protocol (LACP) and switch virtualization with HPEs Virtual Switching Framework (VSF). You will also learn to configure dynamic routing with Open Shortest Path First (OSPF) and Border Gateway Protocol (BGP), network optimization via Quality of Service (QoS), IP multicast routing leveraging Protocol Independent Multicast (PIM), and protecting the network using Access Control Lists (ACLs). This course is approximately 30% lecture and 70% hands on lab exercises.

- Introduction to ArubaSolutions
- Data Link Layer Redundancy Technologies
- Virtual Router Redundancy Protocol(VRRP)
- Aruba Backplane Stacking and Advanced Virtual Switch Framework (VSF)
- Advanced Open Shortest Path First(OSPF)
- Internet Group Management Protocol(IGMP)
- Border Gateway Protocol(BGP)
- Access Control Lists(ACLs)
- MAC Authentication
- Captive Portal and Other Guest Options
- Integrating with Aruba Mobility Solutions
- Secure Device Management
- Quality of Service(QoS)
- Additional Security Features

Objectives | Syllabus | Outline
After you successfully complete this course, expect to be able to:
- Implement spanning tree protocol and loop protections
- Ensure redundancy for a networks default gateway by configuring VRRP on Aruba switches
- Implement and manage an VSF fabric
- Deploy ArubaOS switches in single-area and multi-area OSPF systems
- Use Internet Group Management Protocol (IGMP) to optimize forwarding of multicasts within VLANs
- Implement PIM-DM to route multicast traffic
- Establish and monitor BGP sessions between your routers and ISP routers
- Define ACLs and identify the criteria by which ACLs select traffic
- Configure ACLs on ArubaOS switches to select given traffic
- Implement 802.1X on ArubaOS switch ports
- Configure captive portal authentication on ArubaOS switches to integrate them with an Aruba ClearPass solution
- Configure tunneled-node on ArubaOS switches
- Configure ArubaOS switches to select traffic, apply the appropriate QoS marking, and place the traffic in the proper priority queues
- Implement DHCP snooping and ARP protection to defend networks against DHCP exploits, ARP snooping, and ARP poisoning attacks
- Implement the proper port security measures for various use cases
- Implement connection rate filtering to provide a first layer of protection against viruses and worms

Implementing Aruba Campus Switching Solutions
HP Implementing approach
Killexams : HP Implementing approach - BingNews https://killexams.com/pass4sure/exam-detail/HPE6-A45 Search results Killexams : HP Implementing approach - BingNews https://killexams.com/pass4sure/exam-detail/HPE6-A45 https://killexams.com/exam_list/HP Killexams : Creating a secure and positive healthcare experience No result found, try new keyword!Accomplishing this mission requires an integrated approach; Facilities departments and IT departments must work together to create unified security strategies. In this White Paper, Genetec, Inc. - ... Wed, 03 Aug 2022 18:28:00 -0500 text/html https://www.sourcesecurity.com/white-papers/creating-a-secure-and-positive-healthcare-experience.html?ref=hp Killexams : Advanced Manufacturing 2022: The value of trial and error in additive manufacturing Engineering news
More training is needed to help organisations optimise the introduction of AM, said Claudia Galdini from HP (Credit: Shutterstock)
More training is needed to help organisations optimise the introduction of AM, said Claudia Galdini from HP (Credit: Shutterstock)

Manufacturers do not always ask the right question when they start to consider additive manufacturing (AM) for particular parts, said Claudia Galdini from HP during Advanced Manufacturing last week.

“Instead of asking ‘How could I switch this design to additive?’ the question could be ‘How can I take the full benefit of this 3D printer with a design that is made exactly for that?’,” she said during her session, which provided a ‘purchaser’s checklist’ for AM.

Taking such an approach helps maximise the benefits of the technology, she said. Advantages can include a boost to sustainability thanks to low wastage and high recyclability. Printing in one piece can make parts lighter and Boost performance, while eliminating joints helps prevent leaks when working with fluids.

More training is needed to help organisations optimise the introduction of AM, however. “There are so many technologies on the market that it can be overwhelming looking for the best one for you,” she said.

“Using the machines themselves does not require that much training. What we believe needs to be intensified is, for example, the ‘design for additive’ courses, things like that, because sometimes we’ve been in contact with clients that really get the full benefits of our technology, but at the beginning didn’t even think of implementing some function of additive. That’s really just a matter of growing up, both in your education and your enterprise, without really having the chance to experiment. So it’s all about trying and failing, experimenting.”

Read more: 4 key messages from Advanced Manufacturing 2022


Get to grips with the future factory at Advanced Manufacturing, part of the Engineering Futures webinar series. Register for FREE to watch on-demand content now.  

Content published by Professional Engineering does not necessarily represent the views of the Institution of Mechanical Engineers.

Wed, 27 Jul 2022 01:30:00 -0500 en text/html https://www.imeche.org/news/news-article/advanced-manufacturing-2022-the-value-of-trial-and-error-in-additive-manufacturing
Killexams : Week’s Best: Fidelity Pushes Deeper Into Alts

With stocks and bonds down this year and interest rates on the rise, Fidelity has been getting creative, launching this summer two new liquid alternative funds that are seeking positive returns in an otherwise down market. The funds, targeted at advisors and institutional investors, borrow their investment strategy from the hedge fund world, using leverage and derivatives to control risk.

In other most-read wealth management articles this week:

Keep calm and don’t lose it all. It might sound contradictory, but many wealthy families live in more or less chronic anxiety that they could lose it all—it happens!—and advisors have a key role in devising loss-prevention strategies. We asked a handful of experts how they approach the issue in this week’s Barron’s Advisor Big Q feature, with strategies ranging from implementing proactive asset-protection strategies such as smartly structured trusts, to taking steps to ensure the younger generations of the family are equipped to be good stewards of the money.

Won the lottery? Get an advisor! Someone in Illinois recently came into a life-changing windfall after winning the Mega Millions jackpot of more than $1.25 billion, the second-largest prize awarded in that contest. We asked advisors how they would handle a client who came into such vast, sudden wealth, and they agreed that the advisor should help the client sort through their changing priorities and assemble a team of legal and tax experts to help safeguard the funds.

Wells wins in ”secret” arbitration dispute. An appeals court in Georgia has sided with Wells Fargo in a controversial arbitration case that garnered significant attention for allegations that an attorney for the wirehouse had a secret agreement with industry regulator Finra to secure sympathetic arbitrators in his cases. The original claimant in the case, investor Brian Leggett, is now ordered to pay $83,000 to cover Wells Fargo’s arbitration costs and legal fees.

Crypto Ponzi scheme? The Securities and Exchange Commission has brought charges against nearly a dozen individuals accused of bilking investors out of more than $300 million in what regulators describe as a crypto pyramid and Ponzi scheme. The alleged scheme, which regulators say began in January 2020, centered on the website Forsage.io and a fraudulent fund-raising effort involving ethereum, Tron, and Binance.

LPL recruiting surges. LPL, the nation’s largest independent broker-dealer, saw dramatic increases in net income and advisor recruiting, with its second-quarter headcount vaulting by 780 over the previous period and 1,757 year over year. LPL’s growth has come from a variety of sources, including its expansion of RIA services, acquisitions, and its subscription-based service for advisors.

In this week’s Q&A, Michael LaMena, CEO of New York-based Wealthspire, tells us about his growth strategy, Wealthspire’s big differentiator in a crowded field of acquirers, and what it’s like running a fiduciary advice firm that’s wholly owned by an insurance brokerage. Wealthspire has doubled in size, to $20 billion, since its founding three years ago.

Have a great weekend.

Write to advisor.editors@barrons.com

Fri, 05 Aug 2022 12:20:00 -0500 en-US text/html https://www.barrons.com/advisor/articles/weeks-best-fidelity-alts-wells-fargo-lpl-51659730692?mod=hp_minor_pos23
Killexams : The Last Scientific Calculator?

There was a time when being an engineering student meant you had a sword. Well, really it was a slide rule hanging from your belt, but it sounds cooler to call it a sword. The slide rule sword gave way to calculators hanging from your belt loop, and for many engineers that calculator was from HP. Today’s students are more likely to have a TI or Casio calculator, but HP is still in there with the HP Prime. It is hard to call it a calculator since the latest variant has a 528 MHz ARM Cortex A7, 256 MB of RAM, and 512 MB of ROM. But if you can’t justify a $150 calculator, there are some cheap and even free options out there to get the experience. To start with, HP has a free app that runs on Windows or Mac that works just like the calculator. Of course, that’s free as in no charge, not free as in open source. But still, it will run under Wine with no more than the usual amount of coaxing.

You might wonder why you need a calculator on your computer, and perhaps you don’t. However, the HP Prime isn’t just your 1980s vintage calculator. It also has an amazing number of applications including a complete symbolic math system based on xCAS/Giac. It is also programmable using a special HP language that is sort of like Basic or Pascal. Other applications include plotting, statistics, solvers, and even a spreadsheet that can hold up to 10,000 rows and 676 columns.

Portability

It is easy to think that HP provides the free PC software so you’ll go out and buy the real calculator, and that may be part of it. However, you can also get official apps for Android and iOS. They aren’t free, but they are relatively inexpensive. On iOS the cost right now is $25 and on Android it is $20. There are also “lite” versions that are free.

It appears that these apps are not emulating the genuine calculator hardware, but are ports of the calculator code. So this isn’t a case of someone just writing a pretend calculator, these apps act like the real calculator because it is running the same source code. For example, there is an application, HP Connectivity Kit, that lets you talk to a real calculator over the network. The PC and phone versions will also connect just like a real device.

Programming

You can write programs on the device or if you have the HP Connectivity software (also free) you can write programs on your PC. You can even find some from the Internet. If you miss your old calculator, there is a define feature that lets you program like a key macro recording.

The programming language isn’t hard to pick up. Here’s a short snippet:


EXPORT AREAVOL()
BEGIN
LOCAL N1, N2, L1;
CHOOSE(N1, "Area or Volume?", "Area", "Volume");
IF N1 == 1 THEN
CHOOSE(N2, "Choose shape", "Rectangle", "Triangle", "Disk");
ELSE
CHOOSE(N2, "Choose solid", "Prism", "Cylinder", "Cone", "Pyramid", "Sphere");
. . .

Hacking and What’s Next?

You’d think that the real hardware would be a prime platform for hacking, but so far that’s still on the to-do list. The only really good hardware hack for the real calculator adds a Samsung battery with a higher capacity to the machine. There are also some enticing pads on the PCB that appear to support a buzzer and I2C communications, but there’s no firmware for it. There have been a few attempts to load alien firmware into the device, but there’s no full-blown development system. Getting to the JTAG port looks pretty intense. There’s also been the inevitable hacking of the communication protocol.

History is replete with products that seemed amazing for their day but turned out to be just a stopgap for something better. Cassettes gave way to CDs and then CDs gave way to digital music. Telephone answering machines gave way to voicemail. Calculators have that feel to them. How much longer will we need them? Are the virtual HP Prime applications going to overshadow the physical device?

Regardless, the Prime is state of the art and would shame a personal computer from a few years ago. You can only wonder if it will be the last great calculator, or if there are more yet to come. And a calculator still makes a nice project. Not all homemade calculators are simple.

Wed, 03 Aug 2022 11:59:00 -0500 Al Williams en-US text/html https://hackaday.com/2020/03/02/the-last-scientific-calculator/
Killexams : Helmerich & Payne, Inc. (HP) CEO John Lindsay on Q3 2022 Results - Earnings Call Transcript

Helmerich & Payne, Inc. (NYSE:HP) Q3 2022 Earnings Conference Call July 28, 2022 11:00 AM ET

Company Participants

Dave Wilson - Vice President of Investor Relations

John Lindsay - President & Chief Executive Officer

Mark Smith - Chief Financial Officer

Conference Call Participants

Derek Podhaizer - Barclays

Douglas Becker - Benchmark Research

Keith Mackey - RBC

Andrew Herring - JP Morgan

Tom Carstairs - Stifel Research

John Daniel - Daniel Energy Partners

Operator

Good day, everyone and welcome to today's Helmerich & Payne Fiscal Third Quarter Earnings Call. At this time all participants are in a listen only mode. Later you will have the opportunity to ask questions during the question-and-answer session. [Operator Instructions] Please note this call may be recorded and I will be sending by should you need any assistance.

It is now my pleasure to turn today's call over to Vice President of Investor Relations, Dave Wilson, please go ahead.

Dave Wilson

Thank you, Ashley, and welcome everyone to Helmerich & Payne Conference Call Webcast for the Third Quarter of Fiscal Year 2022. With us today are John Lindsey, President and CEO; and Mark Smith, Senior Vice President and CFO. Both John, and Mark will be sharing some comments with us afterwards, we'll open the call for questions. Before we begin our prepared remarks today, I'll remind everyone that this call will include forward looking statements as defined under the securities laws. Such statements are based upon current information and management's expectations as of this date, and they're not guaranteed the future performance.

Reporting statements involve certain risks, uncertainties and assumptions that are difficult to predict. As such are genuine outcomes and results could differ materially. You can learn more about these risks in our annual report on Form 10-K, or quarterly reports on Form 10-Q and or other SEC filings. You should not place undue reliance on forward looking statements and we undertake no obligation to publicly update these forward-looking statements. We will also make reference to certain non-GAAP financial measures such as segment direct margin and other operating statistics. You'll find the GAAP reconciliation, comments and calculations in yesterday's press release.

With that said, I'll now turn the call over to John Lindsay.

John Lindsay

Thank you, Dave. Good morning, everyone. And thank you for joining our call today. I'm pleased with our performance during the quarter. The operational and financial results continue to reflect the benefits of our strategic initiatives we've been working on for several years now. In particular, the efforts by our sales and operations teams to Boost pricing and margin growth in our North America solutions segment. On our earnings call last February, and again in April, we discussed how rig pricing needed to reach $30,000 per day. And in our third fiscal quarter, we had roughly 20% of our fleet average revenue per day at or above that level.

This is a great start. But we also recognize that pricing needs to move further to achieve gross margins of 50% or greater to generate returns that fully reflect the value we deliver to customers with our flex fleet rigs complementary technology solutions. As intended, we saw a modest growth in rig count and exited the quarter with 175 rigs contracted in our North American solution segment. Fiscal discipline and contractual churn allowed us to re contract rigs without incurring additional reactivation costs and to redeploy them at significantly higher rates.

Our rapidly improving contract economics are driven by both H&P’s value proposition to customers as well as a market that's very tight for available super spec rigs. We believe the drilling solutions and outcomes we provide are increasingly being recognized and coveted by customers. It's encouraging to seek capital discipline in our industry. And when combined with the supply chain and labor constraints, we expect this could put a damper on the industry's ability to reactivate idled super spec rigs at significant scale during the buying season.

By the last two years that has been in calendar Q4, and Q1. This will likely perpetuate the supply demand tightness for super spec rigs and provide momentum for future improvements and contract economics. We are already seeing some customers inquiring about rig availability for the fourth calendar quarter of this year. They are realizing that the market for readily available H&P flex rigs is extremely tight. We're seeing some customers looking to add incremental rigs for 2023. The needs are typically in the range of one to four rigs. And there are some looking to replace a lower performing regular to flex rigs. But we are unable to comment on the number of rigs that we can add specifically today. It is important to underscore that going forward, we will apply the same discipline focus on financial returns and we're receiving commensurate compensation for the value we are providing.

Along those lines march -- mark will provide some high-level remarks on our fiscal 2023 CapEx response to potential future demand for our rigs in our idle super spec electrically. We continue to hear about the benefits our customers experience from our digital technology solutions, especially when combined with our uniform flex rigs fleet. As horizontal wells continue to trend toward greater complexity and longer lateral length, drilling efficiency and reliability are important factors that differentiate our premium super spec service offering.

On the international front activity is taking higher with further improvements in our South American operations and the potential for more activity in coming quarters. In the Middle East, preparations are underway to export some of our super spec capacity as part of our hubs strategy. Current plans have one rig moving overseas in the coming months with additional risks possible, depending on the speed of the opportunities that developed in the Middle East, compared to other competing international locations. Establishing our Middle East hub is an important step and expanding our presence in that region as part of a longer-term growth strategy.

Our scale and digital technology not only enhanced profitability in our North American solution segment, but we believe these are also crucial elements in our goal to grow internationally. There is a scarcity of digital solutions being applied in key energy producing regions around the globe, and developing ways to integrate new technologies will ultimately lead to Boost economic returns for all our stakeholders over time. In our offshore Gulf of Mexico segment, our people continue to deliver great value for our customers. As mentioned on the last call, we are implementing pricing improvements offshore and have made significant progress. We expect the margin contribution to continue to Boost going forward at moderately higher levels.

In closing, it is encouraging to see the industry rebound. But it should also remind us of past cycles driven by elevated commodity price was and how the drilling industry repeatedly responded by adding capacity, which then led to an oversupplied market. So far, the cycle seems different from both an operator and a service industry perspective. The plan at H&P is straightforward safety above all, value creation for customers and margin growth, getting paid for the value we provide. I'm encouraged by the achievements through the dedication of our employees, their passion and their service attitude they bring to the company. We all strive to deliver excellence each day to enhance the value we provide to our customers and our shareholders. As we move forward, I'm confident our shared values and commitments will endure and enable the company to maintain its leadership position within the oil service industry.

And now I'll turn the call over to Mark.

Mark Smith

Thanks, John. Today, I will review our fiscal third quarter 2022. operating results provide guidance for the fourth quarter of a full fiscal year ‘22 guidance is appropriate. Look forward a bit to fiscal year 2023. And comment on our financial position. Let me start with highlights for the recently completed third quarter ended June 30 2022. The company generated quarterly revenues of $550 million versus $468 million in the previous quarter. As expected, the quarterly increase in revenue was due primarily to increase revenue per day in North America solutions segment. As we have continued to increase pricing for drilling activity.

Total direct operating costs incurred were $377 million for the third quarter versus $341 million for the previous quarter. The sequential increase is attributable in part to the higher average North American solutions segment to recap and compare it to the second quarter. General and Administrative expenses totaled approximately $45 million for the third quarter, lower than our previous quarter but still in line with our expectations. During the third quarter, we incurred losses of $17 million related to the fair market value of our add non drilling investment, which is reported as a part of gains and losses on investment securities in our consolidated statement of operations. Our fiscal year to date gains on the NOC investment are approximately $48 million.

To summarize this quarter's results, due in part to the execution of our strategies to align pricing with value delivered, as well as disciplined cost management we had our first positive net income quarter in 10 quarters. Agency earned a profit of $0.16 per diluted share versus incurring a loss of $0.05 in the previous quarter. Third quarter earnings per share were negatively impacted by net $0.11 per share of select items as highlighted in our press release, including the loss on investment securities that I just mentioned. Absent the select items adjusted diluted earnings per share was $0.27 in the third fiscal quarter versus an adjusted loss of $0.17.

During the second fiscal quarter, capital expenditures for the third quarter of fiscal ‘22 or $70 million sequentially ahead of last quarter is $60 million. This is lower than our expectations for the third quarter. But we are still comfortable with the annual range of $250 million to $270 million that was previously provided. H&P generated approximately $98 million in operating cash flow during the third quarter, which is up over $70 million on a sequential basis from the $23 million in the previous quarter. I'll have additional comments about our cash flows and working capital later in these remarks.

Starting to our free segments beginning with the North America solutions segment, we averaged 174 contracted flex rigs during the third quarter up from an average of 164 flex rigs in fiscal Q2. We exited the third fiscal quarter with 175 contracted rigs which was in line with our previous guidance. We added four rigs to our active rig count in the third quarter, including three walking flex rig, drilling rig conversions that were completed in fiscal Q3. Revenues were sequentially higher by $77 million due to pricing increases for our flex rigs in the spot market as John mentioned, and as we discussed on the second fiscal quarter call. Segment direct margin was $168 million and just above the top end of our April guidances coincidently higher than second quarter fiscal ‘20 to $114 million.

Overall effects from the North America solutions segment increase in a sequential basis due primarily to the increase in average rig count. In addition, reactivation costs of 6.5 million were incurred during Q3 compared to $14.2 million in the prior quarter. Roughly half of these reactivation costs were for the three walking rigs conversions added this quarter for the balance related to additional reactivation costs for rigs deployed at the end of the March quarter. Total segment per day expenses, excluding reconditioning costs and excluding reimbursable decreased to 15,490 per day in the third quarter from 50,030 per day in the second quarter.

Looking ahead to the fourth quarter of fiscal ‘22 for North American solutions, as of today's call, we have 176 flex rigs contracted, and we expect to continue at that level through the end of the fourth fiscal quarter of 2022. As we stated last quarter, and much like our competitors are doing and we intend to maintain, remain within our CapEx budget for the fiscal year which translates to holding the line on rig reactivations. Our current revenue backlog from our North America solutions fleet is roughly $629 million for rigs under term contract. Approximately 65% of the US active fleet is on a term contract. And we added approximately 10 rigs to our term roster early in the quarter which had previously been under negotiation for some time. Between now in calendar year in we have over 60 rigs rolling off of term contracts, which we expect to reprice in the current market.

The tight super spec rig supply dynamic is eating pricing momentum, and we expect the percentage of the US fleet on term to decrease to between 50% and 60%. During the next few quarters. As I mentioned last quarter significant inflationary pressures in calendar 2022, together with supply chain constraints are increasing consumable inventory costs. Such increases are included in our fourth guidance. Note that these costs for consumption and materials and supplies inventory did they make up less than 25% of the daily operating cost on a rig with a balance, primarily driven by labor.

In addition to the inflationary pressures on costs, constraints on supply chain capacity are increasing. In regard to supply chain access to parts and materials, we continue to utilize our proactive approach of detailed inventory planning, scale leverage, and healthy vendor partner relationships to alleviate supply chain challenges. In order to avoid a material impact or ongoing operations. We remain in close communication with our suppliers and have placed advanced orders for items in higher risk categories.

Approximately 70% to 75% of our daily costs are labor related. We implemented a wage rate increase in December 2021. Our turnover rates remain consistent with our historical turnover rates. To date, we have not experienced any loss of drilling time nor lost contracts due to crewing issues. We are monitoring and field labor rates as well as job required out of pocket expenditures. And as needed we'll respond to market conditions to assist in talent retention and attraction. As a reminder, our contracts are structured the past three labor related increases over a 5% threshold. We have commenced some early reactivation activities for rigs to deploy in fiscal year 2023 to minimize supply chain constraints where possible and are for planning.

Specifically, we are incurring costs already components of some of the rigs expected to be deployed in the first quarter of fiscal 2023. Reactivation costs will continue to increase to deliver an inflation but also because the average idle super seconds is stacked for two plus years. Our expectation is that reactivation effects costs will approximate well approximately $1 million per rig moving forward. In the North America solution segment, we expect direct margins range between 185 million to 205 million inclusive of the effect of about 6 million in early reactivation costs for the fourth fiscal quarter.

Regarding our international solutions segment, international solutions business activity increased to nine active rigs at the end of the third fiscal quarter. As expected, we added two rigs in the Vaca Muerta region of Argentina this quarter in and of the second rig in Colombia. Also as expected, we incurred expenses associated with the rig startups that I just mentioned as well as investments made to establish our Middle East hub. As we look forward to the fourth quarter of fiscal ’22, for international, we expect to add two more rigs in the Vaca Muerta region of Argentina this quarter as well as a third rig in Colombia. These additions will bring our total active international rig count to 12 at the end of the fourth fiscal quarter if the projected startup timing is adhered to. We also expect to incur more expenses as we further develop our Middle East, inclusive of preparation to export a super spec flex rig that will be targeted at regional drilling opportunities.

Aside from any foreign exchange impacts, we expect to have between 4 million to 7 million direct margin contribution in the fourth quarter, due in part to sequentially higher average activity, reduce startup expenses and read rate increases. Turning to our Gulf of Mexico, offshore Gulf of Mexico segment, we still have four of our seven offshore platform rigs contracted and two of our three management contracts on customer owned rigs are still unfilled drilling rates. Offshore generated direct margin of about 8.7 million very the quarter which was toward the high end of our expectations. As we look toward the fourth quarter of fiscal ’22, for the offshore segment, we expected total offshore that we expect that offshore will generate between 9 million to 11 million of direct margin. A sequential increase resulting from contractual pricing increases on our active Gulf of Mexico platform rigs and management contracts as John mentioned earlier.

Now, let me look forward to the fourth fiscal quarter update full fiscal year ‘22 guidance as appropriate and look ahead to fiscal ‘23 planning. As mentioned, we still expect capital expenditures for the full fiscal year drains between $250 million to $270 million with remaining spend and approximately 85 million at the midpoint to be incurred in the last fiscal quarter. As a reminder, the timing of some spending has pushed in the second half of the fiscal year as key suppliers continue to rebuild capacity that was taken offline during COVID restrictions and the coinciding energy downturn.

Looking forward to our fiscal 2023, which begins October 1, while our budget process is still at an early stage, we have done some preliminary work to help frame up expectations going forward. With that said, you should think about our North America solutions segment CapEx three buckets, maintenance, reactivation and conversion. Our bucket of maintenance capex costs will likely push to the high end of our historical range of 750,000 to a million proactive rig due to inflationary costs increases. The rig specific reactivation CapEx budget and the emergence for 2023 as we get deeper into the idled stack of rigs. Here one-time capital expenditures will be incurred to overhaul componentry that we optimally utilize in the protracted downturn.

For example, to delay an overhaul expenditure we swapped out like equipment from idle rigs during the downturn that had more time remaining before an overhaul was required. This was done in an effort in an effort to save capital and defend their conservative balance sheet. Such discreet reactivation CapEx could range from $1 million to $4 million for each rig reactivation fiscal 2023 depending on the particular componentry involved. Over the next few months, we will refine our planning for next fiscal year with the intent of only reactivating rigs for pricing in terms and ensure return on the significant effects and CapEx investments required to bring the rigs back online. The final bucket one should consider is a conversion bucket which relates to the continuation of our walking reconversion program. Consistent with how we have been converting rigs to walking route capability depending on customer demand and projected returns, we will likely do so in fiscal 2023 at a pace of approximately one per month. Our expectations for general and administrative expenses for the full fiscal ‘22 year are still expected to be just over $180 million.

Items impacting your tax provision and income are at levels that result in the wide variability in the estimated effective tax rate, and therefore the effective tax rate for upcoming quarters may be volatile. With that being said the US statutory rate for fiscal year ‘21 is 21%. In addition, we are expecting incremental state and foreign income taxes in permanent both the tax differences to impact our provision. There is no change to the previously guided range of anticipated cash tax of 5 million to 20 million for this fiscal year. Now looking at our financial position, homework and pain had cash and short-term investments of approximately 333 million in June 30 2022 versus an equivalent 350 million in March 31 ‘22.

The expected sequential decrease was largely attributable to our investment in Galileo and the quarter for 33 million as mentioned during the previous quarter call. Including a revolving credit facility availability, liquidity was approximately 1.1 billion at June 30. Our debt to capital at quarter end was about 17%. And our net debt was 209 million approximately. We currently expect our trailing 12 months of gross leverage churn to reach our goal of less than two times outstanding debt by September 30 2022. Following our resumption as positive cash flow generation from operations in fiscal Q2, the growth of that generation in the third quarter stems primarily from a result of the good pricing work discussed earlier.

And also due to less reactivation expenditures as recounts remained relatively steady in North America solutions segment as planning on the working capital front. Our accounts receivable in March 31, the 330 million grew by 68 million to approximately 398 million to June 30. The preponderance of our AR today continues to be less than 60 days outstanding from billing date. Although absolutely Della receivables are up primarily for price increases in North America solutions. Several additional international rigs working and Gene pricing increases in the offshore segments.

During the third fiscal quarter, we had a couple of significant cash related transactions. First, as mentioned in last quarters call, we invested approximately 33 million in Galileo. Second, we build our legacy Schlumberger stock for approximately 22 million in pretax proceeds, we still expect to in the fiscal year with between 350 million and 400 million of cash and short-term investments on hand. Although we expect to be toward the bottom half of that range due in part to some working capital lockup from accounts receivables as I mentioned. As we expected, the growth in account early in the fiscal year provided a platform for cash generation in the second half of the year. To that point in the recently completed third quarter, we fully covered our maintenance CapEx with cash flow from operations as well as funded our regular dividend.

Further, our disciplined capital planning and operational execution excellence sets the stage for cash increasing going forward. Cash returns to shareholders remains a top priority with our existing dividend, and we have a desire to augment these returns in the future. Additional returns are not yet determined by our board of directors but could consist of an assessment of our long-standing regular dividend, a potential variable type dividend, and opportunistic share buybacks. As mentioned in the press release, their financial stewardship compels us to take a measured approach in balance our maintenance CapEx requirements, growth capital opportunities for both us reactivations and international expansion and potential additional shareholder returns. More to come on this for fiscal 2023, in the coming quarters call.

Note, this concludes our prepared comments for the third fiscal quarter. Let me now turn the call over to Ashley for questions.

Question-and-Answer Session

Operator

[Operator Instructions] And we'll take our first question from Derek Podhaizer with Barclays. Please go ahead Your line is open.

Derek Podhaizer

Hey, good morning, guys. Just wanted to get more of a sense on how many rigs you could add to the market next year. I know your conversations with your customers. You mentioned in the skidding to walking conversion program in the breakdown of the CapEx about one per month call that 12. Just what else do you think you can add to the market just based on your conversations and based on the demand that they're all within keeping in your framework of generating the returns based on the amount of CapEx and OpEx needs to be to deploy to player. I just love a little more color on that.

John Lindsay

Yes, Derek. I can deliver you some sense of that, as Mark said, we're really not in a position other than to just mentioned the 12 walking conversions, assuming the demand and the margins returns are there. One way to think about it is what you expect the rig count to do and the super spec space. Next year and really, I would say starting in calendar Q4 of this year, because again, as I said earlier, that that's kind of been the buying season over the last two years. So if you think about if you make an assumption that 75 rigs to 100 rigs get added over, that 12 month period starting in Q4, if you look at our 25% market share, that would be a reasonable range to think about. But again, I think the main point I want to get across is we're not making decisions based on market share. We're making decisions based on the returns that we can generate from these rigs and just making certain that we're getting reasonable rates of returns over a long period of time. So Derek, that answer your question?

Derek Podhaizer

Yes, no, that's helpful. And then the -- you mentioned that 30,000 per day at or above that level 20% of your fleets on that. Based on the visibility you had and the rigs coming up on term in the contract turn, how can we double that to 40%? Explain that just cadence and how long it would take to get the whole fleet up to that 30 at 30 or above on our blog day rate?

John Lindsay

Yes. And if it's not clear in, in prepared remarks, but that 20% was effective the end of our fiscal Q3, that's not where we are today, necessarily. So that's our Q3 fiscal Q3 number, we don't have we have pretty, pretty clear insight into that it does take, a couple of quarters to get there. And so, I don't think they've really said anything about what that timing would be. I think, reasonably speaking over, two or three, two or three quarter, probably process wise wouldn't would enable us to get to that, to that level of pricing, low, low 30 pricing.

I think that's exactly right, couple more quarters, because as you said, that was in June 30, number you gave in prepared remarks. And in here, we are not far beyond that. And we're already seeing meaningful accretion to that number a month later.

Derek Podhaizer

Got it. That's very helpful. Appreciate the color guys sort of back.

John Lindsay

Thanks, Derek.

Operator

And we'll pick a next question from the Douglas Becker with Benchmark Research. Please go ahead. Your line is open.

Douglas Becker

Thanks. John, wanted to get your thoughts on a conceptual question. Investors historically have thought about gain rates reaching a soft ceiling, when it comes back to reactivation costs or upgrade costs? It seems like spot rates are getting above some of those levels. We've done a leading-edge basis, but just want to get your thoughts on, is that a still a relevant framework to think about pricing? Or have we moved into a different dynamic?

John Lindsay

Yes, I think the historical pricing the context there. It's really different today for a lot of reasons. But, I think, when you consider the investments that we have in specifically in the super spec capacity fleet. I think most people want to compare today versus a 2014 time period, as an example. And as we said, in our previous call that was last time we had 50% gross margins, but we didn't have 230 super spec rigs in the fleet at that time. So it's a much, much different situation.

Mark Smith

Yes, John, I would just add to that. Doug, that as I mentioned, in 2014, we didn't have a super spec rig. So going into ‘16 and beyond, we invested a lot of money in this the upgrading of the fleet resulting in the industry's largest supersonic fleet, and also resulting in a lot of benefits for our customers. Along the way, we add in a very oftentimes, what we would consider to be sub optimal returns on invested capital compared to what are working or what our weighted average cost of capital is. So as we were just trying to get back to numbers that makes sense financially, and this 50% margin is what will get us there, we're on the journey to get to that.

Separately, simultaneously, the rigs we built back then $20 million in fees, or even seven 20 million in 2014. Today, rough estimates say that somewhere between 30 million to 35 million. So a lot of capital still to be deployed to the idle assets that have been there two and a half, two years plus, which means that we get to the buying season at the end of this calendar year. At the beginning of calendar ’23, they've been sitting there two and a half years. So a lot of capital deployed for what we estimate to be nearly 150 super spec rigs in that two and a half year idle tenure by the time we get to the end of this calendar year. Have that else done.

Douglas Becker

Now that provides some good context, maybe more succinctly. It doesn't sound like you expect a meaningful increase in capacity if spot rates are 35,000 a day or higher because of the framework you've just laid out. Is that fair to say?

John Lindsay

Then again, [indiscernible].

Mark Smith

Sure, just trying to gauge it. rectification if we see $37,000 a day spa day rate? Do we see a big influx of capacity coming into the market?

John Lindsay

Yes, I think the capacity that is that is out there, as we described, we're estimating around 130 super spec rigs. We know, there's other drillers that are looking at doing some upgrades to SER tech rigs. And in order to satisfy demand. Guy, I would be surprised personally to see all of those rigs reactivated in 2023 for a number of reasons that we've already talked about related to just the supply chain and the capability to be able to provide the equipment sets required to get those rigs back into working back to working condition, because we as an industry we've utilized equipment sets off of those rigs that have been idle now, as Mark said, rover will be for over two and a half years. And so I, personally, I don't think there's going to be a response we've had some people ask about new bills. And I just think that, based on what Mark just said in terms of a $30 million to $35 million price tag for a new rig. I don't think that's going to be the case, either.

Douglas Becker

Yes, take midpoint $32.5 million, if you're making $15 a day margin, that's a six-year payback. Or if you're making 20,000 a day margin, that's a four-and-a-half-year payback. And then with the customer base today, that has little appetite to contract up beyond their fiscal budget year. So yes, I think the supply chain thing, as John mentioned is actually a significant hurdle. For any, we're working with our scale and leverage with our suppliers to make sure that we can put rigs back to work and also keep the active fleet in good working condition. And that's an effort that's a lot different today than it was at any time over the last 10 years.

John Lindsay

Great. And Doug, it really goes back to just to capital discipline, we've talked about that that's really the rallying cry within the industry. Our customers are demonstrating it. The service industry is displaying that and there's no reason to rush, even if the supply chain was there, there's no reason to rush to try to capture all this, any additional market share that you might be able to capture, one of the things that that we experienced in this last quarter, and you heard us talk about churn, we actually had 18 rigs that were given back to us for various reasons. Customers, going through their budget too fast, acreage position, the list goes on and on. 18 rigs that were, 18 points of demand, that historically speaking as an industry, we would have tried to satisfy that demand for reactivating something. And so, last quarter, we said, we're going to 175. And in Q3, we're going to finish the year at 176, we're within our capital budget, that wouldn't have been the case in previous cycles, we would have continued to try to capture additional share. So I think that's a really distinct difference in our industry, which I think is really healthy, it's healthy on the operator side and healthy on the overall services side as well.

Douglas Becker

Thank you very much.

John Lindsay

Thank you.

Operator

Next question is from the line of Keith Mackey with RBC, please go ahead. Your line is open.

Keith Mackey

Hi, good morning, and thanks for taking my questions. Just wanted to maybe start out with the contracting nature. Are you seeing any increased appetite for longer term contracts from customers that are not necessarily associated with conversion or upgrade or those hot rigs or whatever you'd like to call them still on shorter term durations?

John Lindsay

Keith, I would say it's a mix. We have customers that are that are interested in terming up rigs or a portion of their fleet, particularly larger customers that may have 10 rigs or 15 rigs running. I'm making this up 10 rigs or 15 rigs running. They don't necessarily want to turn up every rig but they may want to turn up summary. From our perspective, as Mark said, we've got 60 rigs approximately that are rolling off term. Next couple of scholars. And, we'll be looking at those very, very closely in terms of whether those remain in term or rollover into spot, I would say most of those rigs are going to probably go into more of a spot, spot type market. But I think it's really a mix that we see customers across the board, some that want to lock up on term, some that would prefer to play the spot market.

Keith Mackey

Got it? Thanks for that.

John Lindsay

I would just add for us at this time, with the upward momentum and pricing and the supply demand dynamics of the sector, trying to get to the returns that we have been discussing. Putting more of our market into the upward mobility of the spot pricing makes sense.

Keith Mackey

Got it, that's helpful. Just curious if you can deliver us a little bit more detail on the number of rigs you have that could be reactivated within that one to 4 million CapEx range. And maybe just your little more on your confidence in being able to get additional rigs to the market in early fiscal or calendar 2023 given the supply chain?

Mark Smith

Well, we have from a reactivation standpoint, when we got into some of the supply chain work that we're doing in this fourth quarter to get ready for putting some rigs back to work. But it's too soon to know definitively how many will put into the market. As John mentioned, we're being very cognizant about capital discipline, one and two, we're not going to try to meet every demand point that comes our way because we know there will be the existence of churn in the market. In other words, rigs freeing up for whatever reason, whatever reason, it may be a contractor. I mean, an H&P running out of budget and the H&P running out of acreage. Many dynamics, we will meet every single demand for me to that makes sense. So we're still trying to balance. I don't know the last two years in the buying season at the end of the calendar year Q4 before the calendar Q1, 40 rigs and 44 rigs, these are the last two buying seasons for us to be at and we don't see that level of addition coming. You have to remember that in those two seasons, we were coming off from substantially low bottom through both the OPEC price change and the pandemic that began in March of 2020. So a substantial bottom to come back up from we're approaching numbers from March 1, 2020. Today from an activity level standpoint, so don't see the quantum of additions. So differently do not see the quantum of additions coming, that we had the last few buying seasons. So I don't know specifically what that'll be yet. We are working, though, to know what every single one of our approximately 54 remaining is in perspective takes. But not ready to comment on delineating the numbers for all for those.

Keith Mackey

Got it? No, that's helpful. Thanks very much. I'll turn it back.

Mark Smith

Thank you.

Operator

And we'll take our next question from Andrew Herring with JP Morgan, please go ahead.

Andrew Herring

Thank you. Good morning. So I'm going to turn to the international outlook. So it sounds like in the near term, you're reactivating a few rigs or adding a few rigs in Argentina, and Colombia, and then transferring one into the Middle East. As many of you can comment on the outlook on some Middle East growth in activity. Do you think customers are looking for more demand before the end of calendar ‘22? And initial insights into what we might expect in 2023?

Mark Smith

I'll start, John, if you want to chime in. I think little as we think about it, we're looking more over the next two to three years in our planning horizon. So if you think about we're always looking at a five year planning horizon, we consider the Middle East scale to be more mid cycle in that horizon. So we're preparing really our Middle East hub, which is to be able to if you just simply have an operating presence in the structure and the Gulf Coast countries so that we can respond to demand points that we see coming in at midcycle horizon. We are excited about several opportunities we have part and parcel to the brand presence that we that we've benefited from after the addenda I can bet in the last year. We're participating in many bid tenders in the region with NRCS and IOCs. alike. So it's a little too early to say if we might be successful in one of those tenders. And if we are, that sort of thing is say three rigs to six rigs per for bidding effort. So if we were fortunate enough to win to that might be 6 rigs to 12 rigs in the next couple of years is that the way to think about it. And in particular, the flex rigs that we have, are with our we've drilled more shale wells than anyone else has globally, frankly. And taking that expertise, especially in some of the burgeoning gas plays in the region, is a really good way to help the customer achieve their goals. So those are the sorts of things we're interested in. John, any, any other comments?

John Lindsay

No, I think I think we've talked about unconventional opportunity for really, we've talked about it internationally for many years. We're starting to see evidence that we're hoping is going to come to fruition. So I would just add to that. And I think our fleet is really designed for unconventional work. The performance, reliability, and the technology solutions that we have all of those are really complementary to that opportunity set.

Andrew Herring

Great, thank you. That's very helpful. And as a follow up, then on the economics internationally, understanding it might be a little early to comment on the Middle East. But assuming these will be more creative contracts, you're talking about comparing the US to prior cycle. To what extent is that helpful in our modeling for internationally comparing to prior year margins you've been able to achieve on these risks? With a higher technology, can we see that exceed those levels, just any common you could, help us kind of gauge where we can see margins tend to be helpful?

John Lindsay

Well, each one of these dinners, for example that were participating in the economics have to be to be right for us. Our own history over the last couple of years International is not a we're not looking to that as any sort of guidance because of the crazy volatility and actually a wind down to zero rigs working because of the pandemic. But as we move forward, these things have to be accretive and we look at the financial returns through time. We also look though, at the ability to build scale. So if we want an initial bid with three rigs, we will be looking beyond that singular bid as an as a potential new entry point for a new customer for H&P. And looking to see what the potential might be for that customer to scale that up. And, and really get better absorption rates like we do here in the US through our scale. So we're looking at a lot of different components. But I think, easy to say that it would have to be financially free.

Andrew Herring

Thanks. That’s all for me. I’ll turn in back.

Operator

Hi, we'll take our next question from Tom Carstairs with Stifel Research, please go ahead. Your line is open.

Tom Carstairs

Good morning. I want to know when it comes to the remaining inventory of ITIL and redeploy able, super separating said, fleet of 54. There's been a lot of emphasis placed on what you're trying to achieve with regards to converting the psychology around pricing, hitting new levels for leading edge day rate and the associated gross margin. But on the terms and conditions side. Are you now expecting or do you think he might be able to get some minimal term or take or pay conditions may be an early termination provision, just wondering how good the remainder of the reactivation contracts might be that we could say?

Mark Smith

Well, in the US, we will. As I mentioned earlier, we see a movement down from 65% to 40% to 50% to 60% range for term. And for everything we enter into in the US on in term, Tom, we do get that taker pay cancellation provision. Having said that, where we are today, financially is much different than where we were coming out of a couple of two or three of the more exact downturns. What I mean by that we have one death is due in 2031. We have a base dividend at 65 versus low lower than it was going into the pandemic. We have an substantial amount of cash on hand and look to a creep. So our capital structure requirements for such taker paper visions are less necessary than they might have been in prior cycles. But we still always like to have some defensiveness, which is why we're still going to remain within that 50% to 60% target range. But deliver up some term to try to capitalize on the supply demand dynamic that is creating this push up in pricing and therefore margins for us. John, any other.

John Lindsay

Yes, it's always about balance. There will be some of our walking conversions, or probably most of our walking conversions that that we will have a term contract commitment. But as I said earlier, Mark mentioned we're going to have 60 rigs rolling off of term contract over the next couple of quarters. And I would imagine most of those are going to roll into a spot market. So we will have some certainty on returns on a larger recommission are the conversions. But as Mark said we're positioned really well to be able to manage through that.

Tom Carstairs

Got it helpful. Clarifications. And then I just wanted to get deliver us an update on auto slide, that the percentage of your average active rig fleet for the quarter of 174 rigs, what percentage of that count, used auto slide at any point over the course of the quarter?

John Lindsay

I think we're around 25%. I believe that I believe that's right. And, we continue to have had uptake, it's been really well received in terms of providing automated directional drilling capacity. And as the rig count grows, it's even more important because we're bringing a lot of directional drillers back into the space. And obviously, they don't have, they don't have the experience that that a lot of operators would like to have. But just being able to automate that process, directional drilling processes is a huge win. And then we were also able to tie that into a commercial performance-based model. That's really a win, win situation for each, H&P, and for our customer.

Tom Carstairs

And would you say that the 25% that used auto side at some point. Does that 25% contain the entirety of the 20% of the fleet for the quarter that realize average revenue per day 30,000 or greater?

John Lindsay

We don't have. That's a great question. I don't have that that data. I do know that there is a portion of that is included in that. But I don't have the data for if it's only 20%, or some subset of that.

Tom Carstairs

Right. I assume the overlap would be high. It's not a perfect Eclipse. But okay, thanks for taking my questions.

Operator

Another question from John Daniel of Daniel Energy Partners, please go ahead.

John Daniel

Guys, thanks for including me. John, and Mark, I think most of us have talked ourselves into believing this is a multi-year upcycle. And assuming and hoping that's right. I'm just curious as you look at the pricing, we keep hearing about the low mid 30s in terms of leading edge. But the rig count, if we actually, as an industry add, call it 50 to 100 range over the next 12 months. Where does pricing go to?

John Lindsay

Well, John, obviously there's pricing has moved very, very quickly. It needed to move very, very quickly. There was a huge disconnect and in the value proposition that we provide the investments that we have and the margin generation. And if you just look at previous cycles, obviously we since 2014, we have not been able to get back to that. So, right now we're seeing leading edge mid-30s. Our goal, as we've already said, is to get to the get to the low 30s. And that's really our focus right now on getting to 50% gross margin. It's really hard to say past that, that John, I mean, we all read the same materials after that And, there's a lot of people that are surmising where it's going. And obviously, we've got a pretty good glimpse into that. But right now, we're just we're just sticking to, to, to the goals that we've laid out there. And we'll see. We'll see where it lands.

John Daniel

At this point, have you had any shareholders that have advocated pushing activity over price?

John Lindsay

No, we haven't been unanimous.

John Daniel

Yes, got it.

John Lindsay

We, I think there's some that, haven't didn't completely follow from our last call that we said, hey, we're recounts, going to be at the most 176 rigs this fiscal year. And that was called a quarter ago. And, but again, we're really pleased because at the beginning of the year, we thought that same 250 million to 270 million was 160 rigs, we're able to get 176 out of it. So created some great efficiencies there. But, expect to continue to see that from us. And I think that's what shareholders want. That's what investors want. Very much like, what are our customers are doing.

John Daniel

I got two quick ones. And I'll wrap up if you said this, I apologize, but kind of you have a range of where you might exit calendar Q4 in terms of a contracted read count calendar Q4.

John Lindsay

Now, as we said, we're working on reactivations, it's a little too far out to know the definitive demand points. And as we alluded to earlier, we will not meet every one of them.

John Daniel

Right.

John Lindsay

So still too early, John,

John Daniel

Fair enough, that you would expect to be above 176, I presume? And calendar Q4.

Mark Smith

We would be. And it's again I think going back to the question as John a minute ago, I think some folks who were maybe not heard the 176 for the September 30 goal in holding rigs tight, in CapEx tight which is helping the dynamics of supply demand and helping pricing. I think that was more on the analyst side. But when we speak to investors and long-term investors, there's not a single one of them that we've talked to you that with any sort of share, over margin. So we're going to be very cognizant of that theme, as we think about your last question and figuring out how many rigs to put in the market and in our first fiscal quarter, to get to a 1231.

John Daniel

Yes. Okay. Well, I'm glad your shareholders are thinking wisely. You've been very generous with your time. It's coming up on the end of the hour, and I'll turn it over for anyone else and follow up with David afterwards. Thanks. Thank you.

John Lindsay

Thanks, John.

Operator

No further questions, at this time. I'll turn the call back over to John Lindsay for any closing remarks.

John Lindsay

Thank you, Ashley. And thanks to all of you for joining us today. We know there are a lot of earnings calls going on today, and we really appreciate your time. I will tell you the H&P team, we've already said it we're laser focused on delivering value to customers and to shareholders. We aim to deliver value to customers through top tier performance, safety and reliability and to our shareholders, continued improvement in our margin growth and our return. So thank you again for your time and have a great day.

Operator

Thank you. This does conclude today's program. Thank you for your participation. You may disconnect your lines.

Thu, 28 Jul 2022 11:20:00 -0500 en text/html https://seekingalpha.com/article/4527172-helmerich-and-payne-inc-hp-ceo-john-lindsay-on-q3-2022-results-earnings-call-transcript
Killexams : Farm Equipment Market worth $126.0 Billion by 2027

Chicago, July 13, 2022 (GLOBE NEWSWIRE) -- According to the new market research report by MarketsandMarkets™, the "Farm Equipment Market by Tractor Power Output(<30, 31-70, 71-130, 131-250, >250HP), Tractor Drive Type, Autonomous Tractor, Electric Tractor(Hybrid, Electric), Farm Equipment(Combine, Baler, Sprayer), Implement, Rental & Region - Global Forecast to 2027", published by MarketsandMarkets™, the Farm Equipment Market is projected to grow from USD 99.4 billion in 2021 to USD 126.0 billion by 2027, at a CAGR of 4.0% during the forecast period.

The demand for electric and autonomous vehicles would create growth opportunities for the Farm Equipment Market.

Browse

  • 329 market data Tables
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  • 343 Pages and in-depth TOC on "Farm Equipment Market"

Download PDF Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=164005174

The two-wheel-drive would be the largest tractor segment during the forecast period

During the forecast period, the two-wheel-drive segment would lead the Farm Equipment Market. Asian Countries (such as India, China, and South-East Asian Countries) have comparatively smaller farm sizes than western countries; hence, low HP & low-cost tractors are more prevalent in these countries. These low HP tractors are mostly equipped with two-wheel drives, making this segment the leading segment.

The <70 HP tractors segment would continue leading the farm tractor market over the forecast period

The low HP tractors are more prevalent in Asian countries as these countries have low mechanization rates and small farm sizes compared to western countries. Also, countries like India have upgraded emission regulations for agriculture equipment. The engines with <37 kW power would also be covered under regulations, leading to the increased cost of these agriculture tractors. Hence, the demand for <30 HP tractors will grow further in the near future in India and other Asian countries.

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Asia Oceania is estimated to be the dominant regional market

India is the largest market for tractors in the world. However, tractor sales, particularly of small-powered tractors with 31-50 HP, witnessed a decline of 12.7% in the first half of FY 2020 due to the COVID-19 outbreak. Considering the new emission regulations introduced for agriculture tractors which would include <37 kW engines, the >55 HP tractors prices would rise by ~10%-20%. To compensate, the Indian OEMs are planning to introduce the CNG tractors by 2024. Considering the Battery technology is expensive, and OEMs have to depend on China for the raw materials and battery packs, the cost of the electric tractors can be 40-50% higher than ICE tractors, which delays the RoI. Hence, the electric tractors in the Asian region would commercialize beyond 2026-2027.

Key Market Players:

The Farm Equipment Market is consolidated, where OEMs - John Deere (US), AGCO Corporation (US), CNH Industrial (UK), Kubota Corporation (Japan), and CLAAS (Germany) lead the Farm Equipment Market. New product development, partnership, and joint venture strategy have been the most dominating strategy adopted by major players from 2018 to 2021, which helped them to innovate their offerings and broaden their customer base.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=164005174

Browse Related Reports:

Construction Equipment Market by Type (Excavator-Crawler & Mini, Loader-Backhoe, Skid-steer, Wheel, Dozer, Dump Truck), Electric Equipment, Propulsion, Power Output, Application, Rental, Aftertreatment Device, and Region - Global Forecast to 2026

Lawn Mower Market by Type (Walk-Behind, Riding & Robotic), End Use (Residential & Commercial), Propulsion Type (ICE & Electric), Battery Type (Lithium-Ion, Lead-Acid), Lawn Size (Small, Medium & Large), Autonomy and Region - Global Forecast to 2027

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Tue, 12 Jul 2022 22:48:00 -0500 text/html https://www.benzinga.com/pressreleases/22/07/g28045747/farm-equipment-market-worth-126-0-billion-by-2027
Killexams : What possible credit legislation could mean for Visa, Mastercard — and you No result found, try new keyword!Credit-card companies look to be under a political microscope once again as the Wall Street Journal reported that senators are working on a new bill ... Thu, 28 Jul 2022 04:46:00 -0500 en-us text/html https://www.msn.com/en-us/money/other/what-possible-credit-legislation-could-mean-for-visa-mastercard-e2-80-94-and-you/ar-AA102SYn Killexams : World Bank eager to engage with Himachal Pradesh SHIMLA: World Bank is eager to engage with Himachal Pradesh and to support the state government in making the necessary institutional, policy and regulatory shifts that are needed to implement priorities as listed in the state’s Climate Change Action Plan; enhance resilience and adaptive capacity for climate-related hazards; and strengthen sustainable management of natural resources, particularly forest and water resources.
The World Bank Mission had visited the state on Monday and Tuesday in order to explore the possible terms of engagement to develop a programme for funding from the Bank. Chief secretary, R D Dhiman chaired the World Bank mission meetings wherein all Secretaries including head of the departments of all departments participated.
Dhiman said that state would be interested for finance for a variety of green and grey infrastructure measures, including afforestation, reforestation, forest rehabilitation, and small-scale erosion control, flood control, and landslide control works upstream; combined with resilient infrastructure systems mid and downstream for water storage, irrigation, flood and sediment control, and the rehabilitation of rural roads to strengthen climate and disaster resilience.
He said these green and grey infrastructure investments can be combined with support for the adoption of sustainable management practices in agricultural and pasture lands, forests including support for sustainable and climate-smart production, selected value chain enhancements, and livelihood diversification activities with integrated landscape approach. He said that shortly a Mission Resilience will be launched in the State to take forward this programme with focus on Climate Change.
Prabodh Saxena, additional chief secretary (environment, science and technology, finance and planning) said that World Bank has supported the state for green initiatives and as such the State Government intends to move from Green Growth to Climate Resilient Green Himachal.
He said that Department of Environment, Science Technology (DEST) intends to scale up green growth initiatives towards sustained inclusive Green resilient Himachal in a integrated manner with all Stakeholder departments.
He said that initial concept based on above mentioned engagement themes, DEST has proposed a participatory planning process to incorporate inputs from different stakeholder groups, allowing for the coordination and integration of solutions among various government agencies and between government and local stakeholders with a concept on Landscape approach to develop any basin of the state.
This project will adopt an integrated landscape management approach in the river basins to achieve these objectives through synergies between green and grey infrastructure, while balancing between urgent needs and long-term benefits.Using River basins as proofs of concept, the project will set in motion a regional program for landscape resilience and sustainable recovery in lagging rural areas.
Tue, 26 Jul 2022 14:32:00 -0500 en text/html https://timesofindia.indiatimes.com/city/shimla/world-bank-is-keen-to-engage-with-himachal-pradesh/articleshow/93140750.cms
Killexams : HP Reverb Review – An Impressive Headset Stuck with Windows VR Controllers

Reverb is HP’s second VR headset, and this time around the company is aiming mainly at the enterprise market, but not shying away from selling individual units at a consumer price point. As the highest resolution headset presently available at that consumer price point, it has a unique selling point among all others, though the usual compromises of Windows Mixed Reality still apply.

HP Reverb Review

Photo by Road to VR

To be up front, the HP Reverb headset itself is a solid improvement over its predecessor by most measures. The new design is comfortable and feels higher quality. The new displays and lenses offer a considerably better looking image. And on-board audio is a huge plus. However, while its hardware has improved in many ways, it’s still a ‘Windows Mixed Reality’ headset, which means it shares the same irksome controllers as all Windows VR headsets.

Reverb’s headlining feature is its high-resolution LCD displays, which are significantly more pixel dense than any headset in its class. On paper, we’re talking about 2,160 × 2,160 per display, which is a big step up over the next highest resolution headsets in the same class—the Valve Index, showcasing a resolution of 1,440 × 1,600 per display (also LCD, which means full RGB sub-pixels), and HTC Vive Pro’s dual 1,440 × 1,600 AMOLEDs, which feature an RGBG PenTile pixel matrix. Among the three, Reverb has a little more than twice the total number of pixels.

Photo by Road to VR

There’s no doubt that Reverb’s displays are very sharp, and very pixel dense. It’s impossible to focus on a single pixel, and the screen door effect (unlit spaces between pixels) is on the verge of being difficult to see. It has the best resolving power of any headset in its class, which means textures, edges, and text are especially crisp.

This is an example of a display with mura which shows varying brightness across the display; a perfect display would have perfectly consistent brightness from corner to corner.

Unfortunately, overall clarity is held back in a large way by plainly visible mura. At a glance, mura can look similar to the screen door effect (in the way that it’s ‘locked’ to your face and reduces clarity) but is actually a different artifact resulting from poor consistency in color and brightness across the display. It ends up looking like the display is somewhat cloudy.

As HP is mostly pushing Reverb for enterprise, they probably aren’t terribly concerned with this—after all, text legibility (a major selling point for enterprise customers) gets a big boost from the headset’s high resolution whether or not mura is present. For anyone interested in Reverb for visual immersion though, the mura unfortunately hampers where it might be otherwise.

There’s also a few other curious visual artifacts. There’s a considerable amount of chromatic aberration outside of the lenses’ sweet spot. There’s also subtle—but noticeable—pupil swim (varying distortion across the lens that appears as motion as your eye moves across the lens). In most headsets, these are both significantly reduced via software corrections, and I’m somewhat hopeful that they could be improved with better lens correction profiles for Reverb in the future. While I couldn’t spot any obvious ghosting or black smear, interestingly Reverb shows red smear, which is something I’ve never seen before. It’s the same thing you’d expect with black smear (where dark/black colors can bleed into brighter colors when you move your head, especially white), but in Reverb it manifests most when red (or any color substantially composed of red, including white) shares a boundary with a dark/black color. In my testing this hasn’t led to any significant annoyance but, as ever, it could be bothersome in some specific content.

From a field of view standpoint, HP claims 114 degrees diagonally for Reverb, which is higher than what’s typically quoted for headsets like the Rift (~100) and Vive (~110). Nobody in the industry really seems to agree what amounts to a valid field of view measurement though, and to my eyes, Reverb’s field of view falls somewhere between the two. So whether you call it 105 or 114, Reverb is in the same field of view class as most other PC VR headsets. These are Fresnel lenses, which means they are susceptible to god rays, which are about as apparent on Reverb as with exact headsets like the Rift S, and a bit less prevalent than the original Rift and Vive.

Photo by Road to VR

Reverb’s other big feature is its major ergonomic redesign. HP has ditched the halo headstrap approach seen on every other Windows VR headset and instead opted for a much more (original) Rift-like design, including on-ear headphones. At least to my head, Reverb’s ergonomics feel like a big improvement over HP’s original Windows VR headset.

I found it quite easy to use for an hour or more while maintaining comfort. As with all headsets of this design, the trick is knowing how to fit it right (which isn’t usually intuitive). New users are always tempted to tighten the side straps and clamp the headset onto their face like a vice, but the key is to find the spot where the rear ring can grip the crown of your head, then tighten the top strap to ‘lift’ the visor so that it’s held up by ‘hanging’ from the top strap rather than by sheer friction against your face. The side straps should be as loose as possible while still maintaining stability.

Photo by Road to VR

I was able to get Reverb to feel very comfortable, but I’m a little panic that the headset won’t easily accommodate larger heads or noses. Personally speaking, I don’t fall on either ends of the spectrum for head or nose size, so I’m guessing I’m fairly average in that department. Even so, I had Reverb’s side straps as loose as they would possibly go in order to get it to fit well. If I had a bigger head, the straps themselves wouldn’t have more room to accommodate; all the extra space would be made up by further stretching the springs in the side struts, which would put more pressure on my face than is ideal.

I also felt like I was pushing the limits of the headphones and the nose gap. The best fit for the headphones is to have them all the way in their bottom position; if there were a greater distance between the top of my head and my ears, or if I preferred the top strap adjustment more tightly, the headphones wouldn’t be able to extend far enough down to be centered on my ears.

With the nose gap, I was feeling a bit of pressure on the bridge of my nose, and actually opted to remove the nose gasket entirely (the piece of rubber that blocks light), which gave me just enough room to not feel like the headset was in constant contact with the bridge of my nose. If you have a larger nose or a greater distance between the center of your eye and your nose’s bridge, you might find the nose gap on Reverb annoyingly small.

Photo by Road to VR

As with most other Windows VR headsets, Reverb lacks a hardware IPD adjustment, which means only those near to the headset’s fixed IPD setting will have ideal alignment between their eyes and the optical center of the lenses. We’ve reached out to HP to confirm the headset’s fixed IPD measurement, though I expect it to fall very close to 64mm. If you are far from the headset’s fixed figure, you’ll unfortunately lose out on some clarity.

So, if it fits, Reverb from a hardware standpoint is a pretty solid headset, and the singular choice for anyone prioritizing resolution over anything else. However, Reverb can’t escape the caveats that come with all Windows VR headsets.

Mostly that’s the controllers and their tracking. Reverb uses the same Windows VR controllers as every other Windows VR headset except for Samsung (which has slightly different controllers). Yes, they work, but they are the worst 6DOF controllers on the market. They’re flimsy, bulky, and not very ergonomic. They actually track quite well from a performance standpoint, but their tracking coverage hardly extends outside of your field of view, which means they lose tracking any time your hands linger outside of the sensor’s reach, even if that means just letting them hang naturally down by your sides.

Photo by Road to VR

The tracking coverage issue is primarily driven by the tracking system used in every Windows VR headset: a two-camera inside-out system. HP says Reverb’s tracking is identical to the first generation headsets, and as such, Reverb’s two cameras lose controller tracking as often as its Windows VR contemporaries. Luckily, the headtracking itself is pretty darn good (on par with Rift S in my experience so far), and so is controller tracking performance when near the headset’s field of view. For content where your hands are almost always in your field of view (or only leave it briefly), Windows VR controller tracking can work just fine. In fact, Reverb holds up very well when playing Beat Saber on its highest difficulty because your hands don’t spend much time outside of the field of view before entering it again (to slice a block). But there’s tons of content where you hands won’t be consistently held in the headset’s field of view, and that’s when things can get annoying.

Photo by Road to VR

For all of its downsides, the Windows VR tracking system also means that Reverb gets room-scale 360 tracking out of the box and doesn’t rely on any external sensors. That’s great because it means relatively easy setup, and support for large tracking volumes.

The compromises on the controller design and tracking were easy to swallow considering how inexpensively you could find a Windows VR headset ($250 new in box is not uncommon). But Reverb has introduced itself as the new premium option among Windows VR headsets at $600, which shines a much brighter light on the baggage that comes with every Windows VR headset to date.

While Windows Mixed Reality—which is built into Windows and comes with its very own VR spatial desktop—is the native platform for Reverb and all other Windows VR headsets, there’s an official plugin that makes it compatible with most SteamVR content, which vastly expands the range of content available on the headset.


Disclosure: HP provided Road to VR with a Reverb headset.

Sun, 16 Aug 2020 09:53:00 -0500 Ben Lang en-US text/html https://www.roadtovr.com/hp-reverb-review-vr-headset/
Killexams : COI phase-in period for Subchapter M towing vessels ends

It is with extreme enthusiasm that I announce the conclusion of the Subchapter M: Towing Vessel, four year Certificate of Inspection (COI) phase-in period, and welcome a fleet of more than 5,000 towing vessels into U.S. domestic inspected status. 

Rear Adm. John W. Mauger

This is a historic occasion for both the commercial towing industry and the Coast Guard as we have been working toward this moment since the 2004 Authorization Act which added towing vessels as an inspected class. Per 46 CFR 136.202, by July 19, 2022, 100% of towing vessels must have valid COIs on board in order to operate commercially. 

Today (July19) marks the conclusion of almost two decades of work with our industry partners. It is also the first time the Coast Guard successfully implemented a dual inspection subchapter, which includes a new comprehensive safety management system for both company and vessel compliance.

I would also like to take this opportunity to thank all the members of the National Towing Safety Advisory Committee (NTSAC), American Waterways Operators (AWO), Third Party Organizations (TPO), Recognized Organizations (RO), Coast Guard Area, District, Sector Towing Vessel Coordinators; Coast Guard Marine Inspectors, Towing Vessel National Center of Expertise, owner and managing operators, and all mariners and members of the towing vessel community who helped to ensure these regulations came to realization and successful implementation.

These past four years have been challenging with devastating hurricanes, a global pandemic, and ever increasing pressure on our Marine Transportation System, but jointly with a goal to have a systemic approach for managing safety risks in operations, we have met these obstacles and persevered.  While the four year phase-in time period has ended, it is the beginning of the new life cycle for the towing vessel fleet. The Coast Guard looks forward to working with you in the future and maximizing the potential of our waterways while maintaining safety and security.

If you have any questions regarding an inspection for your towing vessel, please seek your local Officer in Charge, Marine inspections.  For any questions regarding the blog post, please contact [email protected].

Rear Adm. John W. Mauger is the Coast Guard's Assistant Commandant for Prevention Policy in Washington, D.C.

Thu, 21 Jul 2022 06:03:00 -0500 en text/html https://www.workboat.com/viewpoints/coi-phase-in-period-for-subchapter-m-towing-vessels-ends
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