NOV Reports Third Quarter 2022 Earnings
Revenue of $1.89 billion, up 9% sequentially and 41% year-over-year Operating Profit of $55 million, down $13 million sequentially and up $98 million year-over-year Net Income of $32 million, or $0.08 per fully diluted share Adjusted EBITDA* of $195 million, up $45 million sequentially and $139 million year-over-year *Adjusted EBITDA …
NOV: Reports Fourth Quarter and Full Year 2021 Results
NOV Inc. today reported fourth quarter 2021 revenues of $1.52 billion, an increase of 13 percent compared to the third quarter of 2021 and an increase of 14 percent compared to the fourth quarter of 2020. Net loss for the fourth quarter of 2021 was $40 million, or 2.6 percent …
NOV: Reinstates Regular Quarterly Dividend
NOV Inc. today announced that its Board of Directors has reinstated its regular quarterly cash dividend of $0.05 per share of common stock. “Reinstating a regular quarterly dividend demonstrates our continued commitment to returning excess capital to our shareholders along with our growing confidence in the emerging recovery of our …
Schlumberger and NOV Announce Collaboration to Accelerate Adoption of Automated Drilling Solutions
Schlumberger and NOV announced today a collaboration to accelerate automated drilling solutions adoption by oil and gas operators and drilling contractors. The agreement will enable customers to combine Schlumberger surface and downhole drilling automation solutions with NOV’s rig automation platform to deliver superior well construction performance. This integrated offering enables the automation of …
NOV Reports First Quarter 2021 Results
NOV Inc. today reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent …
NOV: Provides Operational Update for the First Quarter 2021
NOV Inc. announced today that it expects operational disruptions and softer-than-anticipated customer orders will cause first quarter 2021 operating results to fall below prior guidance. “Unfortunately, the extreme winter weather across Texas and Oklahoma, the ongoing effects of COVID-19 lockdowns, and the continued spending austerity from our oilfield customers are combining to take …
National Oilwell Varco: Reports Third Quarter 2020 Results
National Oilwell Varco, Inc. today reported third quarter 2020 revenues of $1.38 billion, a decrease of seven percent compared to the second quarter of 2020 and a decrease of 35 percent compared to the third quarter of 2019. Net loss for the third quarter of 2020 improved $38 million sequentially …
National Oilwell Varco Reports First Quarter 2020 Results
National Oilwell Varco, Inc. today reported first quarter 2020 revenues of $1.88 billion, compared to $2.28 billion for the fourth quarter of 2019 and $1.94 billion for the first quarter of 2019. Net loss for the first quarter of 2020 was $2.05 billion, which included non-cash, pre-tax charges (“other items”, …
NOV Expands Completion Tool Technology Product Offering
National Oilwell Varco, Inc. announced today the introduction of several new proprietary technologies to its completion tools portfolio: Bulldog Frac™ – a sliding-sleeve annular fracturing system that provides pinpoint accuracy, zonal isolation, and improved reliability; Bullmastiff™ – a ball-drop openhole sliding-sleeve sand control fracturing system; Rottweiler™ – a product family …
NOV Fiber Glass Systems: Opens Facility in Dammam
National Oilwell Varco, Inc. today announced that it is expanding the operations of its Fiber Glass Systems business unit with a new composite pipe manufacturing facility located near the city of Dammam, Saudi Arabia. “Our decision to localize manufacturing operations in the Kingdom of Saudi Arabia demonstrates our commitment to …