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Stock impact report

National Oilwell Varco Reports Second Quarter 2019 Results

NOV Inc. (NOV) 
Last nov inc. earnings: 4/27 06:45 pm Check Earnings Report
US:NYSE Investor Relations: nov.com
Company Research Source: Business Wire
HOUSTON--(BUSINESS WIRE)--National Oilwell Varco, Inc. (NYSE: NOV) today reported second quarter 2019 revenues of $2.13 billion, an increase of 10 percent compared to the first quarter of 2019 and an increase of one percent from the second quarter of 2018. Net loss for the second quarter of 2019 was $5.39 billion, which included non-cash, pre-tax charges (“other items”, see Other Corporate Items for additional detail) of $5.77 billion. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) increased $55 million sequentially to $195 million, or 9.1 percent of sales.“NOV continues to face challenging cross-currents as it navigates a generational oilfield downturn. International and offshore markets are exhibiting growth, while North America land markets are declining as customers slash spending. Nevertheless, consolidated results improved sequentially in each of our three business segments, as we pivot to higher-growth areas,” commented Clay William Show less Read more
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