Core Insights - The article emphasizes the importance of value investing and the use of specific metrics to identify undervalued stocks [1] Group 1: Company Analysis - NOV (NOV) has a Zacks Rank of 2 (Buy) and an A for Value, indicating strong potential as a value stock [2] - NOV's PEG ratio is 0.51, significantly lower than the industry average of 1.12, suggesting it may be undervalued [2] - NOV's P/S ratio is 0.83, compared to the industry's average of 1.62, further indicating potential undervaluation [2] Group 2: Qifu Technology, Inc. Analysis - Qifu Technology, Inc. (QFIN) also holds a Zacks Rank of 2 (Buy) with a Value score of A, marking it as a strong value stock [3] - QFIN's Forward P/E ratio is 4.51, while its PEG ratio is 0.41, both significantly lower than the industry averages of 38.65 and 1.12 respectively [3] - QFIN's P/B ratio is 1.06, compared to the industry's price-to-book ratio of 9.54, indicating it may be undervalued [3] Group 3: Overall Value Assessment - Both NOV and QFIN exhibit strong value characteristics, suggesting they are likely undervalued in the current market [4]

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.Zacks Premium includes access to the Zacks Style Sc ...

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.Zacks Premium includes access to the Zacks Style Scores as we ...

Core Insights - Zacks Premium provides tools for investors to enhance their stock market engagement and confidence, including daily updates, research reports, and stock screens [1] - The Zacks Style Scores categorize stocks based on value, growth, and momentum, helping investors identify stocks with the potential to outperform the market [1][2] Zacks Style Scores - **Value Score**: Focuses on identifying undervalued stocks using ratios like P/E, PEG, and Price/Sales, appealing to value investors [2] - **Growth Score**: Concentrates on a company's financial health and future growth potential, analyzing projected and historical earnings and cash flow [2] - **Momentum Score**: Aids momentum investors by assessing price trends and earnings outlook changes to identify optimal buying opportunities [2] - **VGM Score**: Combines all three Style Scores to provide a comprehensive rating, highlighting stocks with attractive value, growth forecasts, and momentum [3] Zacks Rank and Style Scores Integration - The Zacks Rank utilizes earnings estimate revisions to guide investors in stock selection, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [4] - Stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B are recommended for higher return potential, while 3 (Hold) stocks should also have A or B Scores for optimal upside [5] Company Spotlight: NOV Inc. - NOV Inc., a leader in oil and gas drilling systems, holds a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a solid position in the market [6] - The company has a Value Style Score of A, supported by a forward P/E ratio of 11.7, making it attractive to value investors [6] - Recent upward revisions in earnings estimates for fiscal 2024 have increased the Zacks Consensus Estimate to $1.56 per share, with an average earnings surprise of 13.9% [6]

NOV Inc. (NYSE:NOV) Q1 2024 Earnings Conference Call April 26, 2024 11:00 AM ET Company Participants Amie D'Ambrosio - Director, IR Clay Williams - Chairman, President and CEO Jose Bayardo - SVP and CFO Conference Call Participants Jim Rollyson - Raymond James Stephen Gengaro - Stifel James West - Evercore ISI Tom Curran - Seaport Research Partners Scott Gruber - Citigroup Kurt Hallead - Benchmark Operator Good day, ladies and gentlemen, and welcome to the NOV First Quarter 2024 Earnings Conference Call. [O ...

NOV Inc. First Quarter 2024 Earnings Presentation April 26, 2024 Safe Harbor / Forward Looking Statements ...

Financial Performance - For Q1 2024, NOV generated revenues of $2.16 billion, a 10% increase compared to Q1 2023, with net income of $119 million, or 5.5% of sales[96] - Adjusted EBITDA for Q1 2024 increased 24% year-over-year to $241 million, representing 11.2% of sales[96] - Total operating profit for the three months ended March 31, 2024, was $162 million, up from $126 million in the same period of 2023, resulting in an operating profit margin of 7.5%[119] - Adjusted EBITDA for the three months ended March 31, 2024, was $241 million, compared to $195 million in 2023, with an Adjusted EBITDA margin of 11.2%[119] Segment Performance - The Energy Products and Services segment reported revenues of $1,017 million, an 8% increase from Q1 2023, with an operating profit of $121 million, or 11.9% of sales[97] - The Energy Equipment segment generated revenues of $1,178 million, a 12% increase from Q1 2023, with an operating profit of $95 million, or 8.1% of sales[98] Orders and Backlog - New orders booked in Q1 2024 totaled $390 million, resulting in a book-to-bill ratio of 77% compared to $507 million of orders shipped from backlog[99] - As of March 31, 2024, the backlog for capital equipment orders in the Energy Equipment segment was $3,955 million, an increase of $115 million from Q1 2023[99] - The capital equipment backlog was $3,955 million as of March 31, 2024, an increase of $115 million from $3,840 million at March 31, 2023, with approximately 36% expected to convert to revenue in 2024[112] Market Conditions - Active drilling rigs worldwide decreased by 5.4% year-over-year to 1,797 in Q1 2024, while U.S. active rigs decreased by 18.1%[103] - The average price of West Texas Intermediate crude oil was $77.56 per barrel in Q1 2024, a 1.9% increase from Q1 2023[103] - Natural gas prices fell to $2.13 per mmbtu in Q1 2024, a 19.6% decrease compared to Q1 2023[103] Future Outlook - Management anticipates continued growth in energy transition projects, including wind energy and carbon sequestration, as low carbon power becomes a larger portion of the global energy supply[104] Tax and Cash Flow - The effective tax rate for the three months ended March 31, 2024, was 26.7%, significantly higher than 13.8% for the same period in 2023[115] - Cash and cash equivalents decreased to $468 million as of March 31, 2024, from $816 million at December 31, 2023, while total debt increased to $1,808 million[121] - Net cash used in operating activities was $78 million for the three months ended March 31, 2024, primarily due to changes in working capital[125] Shareholder Returns - The company plans to return at least 50% of excess free cash flow through dividends and share repurchases, with a 50% increase in the quarterly cash dividend from $0.05 to $0.075 per share[128] Debt and Credit Facilities - The company has a revolving credit facility with a borrowing capacity of $2.0 billion, with a debt-to-capitalization ratio of 24.5% as of March 31, 2024[122] - The company has $1.95 billion available under its credit facility with no outstanding letters of credit as of March 31, 2024[137] - The joint venture has a $150 million bank line of credit for facility construction in Saudi Arabia, with interest based on SOFR plus 1.40%[137] - The company aims to maintain a portion of its debt in variable rate borrowings for flexibility and lower overall costs compared to fixed-rate borrowings[137] Foreign Exchange Exposure - The company recorded a foreign exchange loss of $6 million in Q1 2024, compared to a $9 million loss in the same period of the previous year[133] - The company has transactional exposures totaling $475 million and translation exposures totaling $309 million in foreign currencies as of March 31, 2024[135] - A hypothetical 10% movement in foreign currency exchange rates could affect net income by $37 million and Other Comprehensive Income by $31 million[135]

Financial Performance - First quarter 2024 revenues were $2.16 billion, a 10% increase year-over-year[3] - Net income for the first quarter was $119 million, or 5.5% of sales, a decrease of $7 million compared to the previous year[3] - Adjusted EBITDA increased 24% year-over-year to $241 million, representing 11.2% of sales[3] - NOV's total revenue for Q1 2024 was $2,155 million, an increase from $1,962 million in Q4 2023, representing a 9.8% quarter-over-quarter growth[40] - Gross profit for Q1 2024 was $458 million, with a gross profit margin of 21.3%, compared to $411 million and 20.9% in Q4 2023[40] - Operating profit for Q1 2024 was $162 million, up from $126 million in Q4 2023[40] - Total operating profit for Q1 2024 reached $162 million, up from $126 million in Q4 2023, reflecting a 28.6% increase[48] - Adjusted EBITDA for Q1 2024 was $241 million, compared to $195 million in Q4 2023, representing a 23.6% growth[48] - GAAP net income attributable to the company was $119 million in Q1 2024, slightly down from $126 million in Q4 2023[48] Cash Flow and Dividends - The company plans to return at least 50% of Excess Free Cash Flow annually through dividends and share repurchases[4] - A share repurchase program for up to $1.00 billion was authorized over a period of 36 months[4] - The base dividend is expected to increase by 50% to $0.075 per share starting in June 2024[14] - The company reported a free cash flow of $(147) million for Q1 2024, improving from $(259) million in Q1 2023[45] - Cash and cash equivalents decreased to $468 million as of March 31, 2024, down from $816 million at the end of 2023[42] Orders and Backlog - New orders booked during the quarter totaled $390 million, with a backlog for capital equipment orders at $3,955 million[10] - For Q2 2024, management expects consolidated revenues to increase by 1% to 5% and Adjusted EBITDA to be between $260 million and $280 million[12] Segment Performance - Energy Products and Services generated revenues of $1,017 million, an 8% increase from the prior year[8] - Energy Equipment revenues were $1,178 million, a 12% increase year-over-year, with an operating profit of $95 million[9] - Energy Products and Services operating profit margin remained stable at 11.9% for both Q1 2024 and Q4 2023, while Energy Equipment improved to 8.1% from 6.7%[48] - Energy Products and Services adjusted EBITDA margin increased to 17.1% in Q1 2024 from 16.4% in Q4 2023[48] Operational Changes - The company has transitioned non-operational personnel to a centralized hub in Houston, significantly reducing onsite personnel needs during fracturing jobs[30] - NOV's ReedHycalog business unit achieved a record drilling depth of 9,017 m (29,583 ft) in the Duvernay region, utilizing the TK53-O4 drilling technology[31] Other Financial Metrics - Total assets increased slightly to $11,305 million as of March 31, 2024, compared to $11,294 million at the end of 2023[42] - Total depreciation and amortization increased to $83 million in Q1 2024 from $77 million in both Q4 2023 and Q1 2023[48] - Corporate costs were reduced to $54 million in Q1 2024 from $57 million in Q4 2023[48] - Interest expense rose to $24 million in Q1 2024, compared to $21 million in Q4 2023[48] - Equity income in unconsolidated affiliates showed a loss of $29 million in Q1 2024, an improvement from a loss of $48 million in Q4 2023[48] Upcoming Events - NOV will hold its Q1 2024 earnings conference call on April 26, 2024, at 10:00 AM Central Time[32]

Nov Inc. (NOV) reported $2.16 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 9.8%. EPS of $0.30 for the same period compares to $0.32 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $2.11 billion, representing a surprise of +2.37%. The company delivered an EPS surprise of +11.11%, with the consensus EPS estimate being $0.27.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street e ...

分组1 - Nov Inc. reported quarterly earnings of $0.30 per share, exceeding the Zacks Consensus Estimate of $0.27 per share, but down from $0.32 per share a year ago, representing an earnings surprise of 11.11% [1] - The company posted revenues of $2.16 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 2.37%, and up from $1.96 billion year-over-year [1] - Over the last four quarters, Nov Inc. has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [1] 分组2 - Nov Inc. shares have declined approximately 7.2% since the beginning of the year, contrasting with the S&P 500's gain of 6.3% [2] - The current consensus EPS estimate for the upcoming quarter is $0.36 on revenues of $2.23 billion, and for the current fiscal year, it is $1.52 on revenues of $9.1 billion [4] - The Zacks Industry Rank indicates that the Technology Services sector is in the bottom 41% of over 250 Zacks industries, suggesting potential underperformance compared to the top 50% [4]