UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-12317 NATIONAL OILWELL VARCO, INC. (Exact name of registrant as specified in its charter) Delaware 76-0475815 (State or other jurisdiction of incorporation or organi ...

National Oilwell Varco, Inc. (NYSE:NOV) Q2 2019 Earnings Conference Call July 30, 2019 11:00 AM ET Company Participants Loren Singletary - Chief Investor and Industry Relations Officer Clay Williams - Chairman, President and CEO Jose Bayardo - SVP and CFO Conference Call Participants Byron Pope - Tudor, Pickering, Holt Marshall Adkins - Raymond James Scott Grubber - Citigroup Chase Mulvehill - Bank of America Merrill Lynch Bill Herbert - Simmons Sean Meakim - JP Morgan Marc Bianchi - Cowen Operator Good day ...

National Oilwell Varco, Inc. (NYSE:NOV) Q1 2019 Earnings Conference Call April 26, 2019 11:00 AM ET Company Participants Loren Singletary - Chief Investor and Investor and Industry Relations Officer Clay Williams - Chairman, President and Chief Executive Officer Jose Bayardo - Senior Vice President and Chief Financial Officer Conference Call Participants Byron Pope - Tudor Pickering Holt Bill Herbert - Simmons Kurt Hallead - RBC Sean Meakim - JP Morgan Chase Mulvehill - Bank of America James West - Evercore ...

Part I - Financial Information [Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) The company reported a Q1 2019 net loss of $77 million on revenues of $1.94 billion amid balance sheet changes Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2019 (In millions) | December 31, 2018 (In millions) | | :--- | :--- | :--- | | **Total Current Assets** | $6,938 | $7,279 | | **Total Assets** | $20,002 | $19,796 | | **Total Current Liabilities** | $2,103 | $2,341 | | **Total Liabilities** | $6,162 | $5,907 | | **Total Stockholders' Equity** | $13,840 | $13,889 | Consolidated Statement of Income (Loss) (Unaudited) | Metric | Three Months Ended March 31, 2019 (In millions) | Three Months Ended March 31, 2018 (In millions) | | :--- | :--- | :--- | | **Revenue** | $1,940 | $1,795 | | **Gross Profit** | $256 | $287 | | **Operating Loss** | $(48) | $(1) | | **Net Loss Attributable to Company** | $(77) | $(68) | | **Diluted Loss Per Share** | $(0.20) | $(0.18) | Consolidated Statement of Cash Flows Highlights (Unaudited) | Cash Flow Activity | Three Months Ended March 31, 2019 (In millions) | Three Months Ended March 31, 2018 (In millions) | | :--- | :--- | :--- | | Net cash used by operating activities | $(38) | $(129) | | Net cash used in investing activities | $(107) | $(61) | | Net cash used in financing activities | $(20) | $(18) | | **Decrease in cash and cash equivalents** | **$(157)** | **$(201)** | [Notes to Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) Key disclosures cover accounting policies, segment data, and the impact of adopting the new ASC 842 lease standard Segment Revenue and Operating Profit (Loss) (Q1 2019 vs Q1 2018) | Segment | Revenue Q1 2019 (In millions) | Revenue Q1 2018 (In millions) | Operating Profit (Loss) Q1 2019 (In millions) | Operating Profit (Loss) Q1 2018 (In millions) | | :--- | :--- | :--- | :--- | :--- | | Wellbore Technologies | $807 | $711 | $19 | $12 | | Completion & Production Solutions | $581 | $670 | $(35) | $16 | | Rig Technologies | $603 | $483 | $31 | $18 | - As of March 31, 2019, the company had **remaining performance obligations of $1,681 million**, with $715 million expected to be recognized as revenue in 2019 and $966 million thereafter[33](index=33&type=chunk) - The company adopted the new lease standard ASC 842 on January 1, 2019, recognizing **lease right-of-use assets of $786 million** and **lease liabilities of $839 million**[35](index=35&type=chunk) - Total debt as of March 31, 2019, consisted of **$1.395 billion in 2.60% Senior Notes** and **$1.088 billion in 3.95% Senior Notes**, with a fully available $3.0 billion credit facility[43](index=43&type=chunk)[44](index=44&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reviews Q1 2019 performance, segment results, and market outlook, anticipating sequential improvement Q1 2019 Key Financial Metrics | Metric | Q1 2019 (In millions) | Q4 2018 (In millions) | Q1 2018 (In millions) | | :--- | :--- | :--- | :--- | | Net Loss Attributable to Company | $(77) | $12 (Income) | $(68) | | Operating Loss | $(48) | $87 (Profit) | $(1) | | Adjusted EBITDA | $140 | $279 | $160 | - The market outlook remains uncertain due to North American capital austerity, but **long-term fundamentals support expected Q2 2019 improvement** from slowly improving international and offshore markets[86](index=86&type=chunk) [Business Overview](index=19&type=section&id=Business%20Overview) The company provides equipment and services for drilling, completions, and production through three distinct segments - **Wellbore Technologies** designs, manufactures, and sells equipment for drilling operations, with demand tied to drilling activity levels[75](index=75&type=chunk) - **Completion & Production Solutions** provides equipment for hydraulic fracturing and production, with demand dependent on completions activity[76](index=76&type=chunk) - **Rig Technologies** supplies capital equipment for land and offshore rigs, driven by rig construction and refurbishment expenditures[77](index=77&type=chunk)[79](index=79&type=chunk) [Segment Performance](index=20&type=section&id=Segment%20Performance) Segment results show mixed performance with YoY growth in two segments but sequential declines across the board - **Wellbore Technologies:** Revenue of **$807M (up 14% YoY)**, with operating profit of $19M, impacted by seasonal and North American slowdowns[82](index=82&type=chunk) - **Completion & Production Solutions:** Revenue of **$581M (down 13% YoY)**, with an operating loss of $35M, but achieved a strong **book-to-bill of 149%**[83](index=83&type=chunk) - **Rig Technologies:** Revenue of **$603M (up 25% YoY)**, with operating profit of $31M and a **backlog of $3.1B**[84](index=84&type=chunk)[85](index=85&type=chunk) [Market and Outlook](index=21&type=section&id=Market%20and%20Outlook) Market uncertainty from late 2018 commodity price drops impacted Q1, but improving prices support a positive Q2 outlook Key Industry Indicators (Q1 2019 vs. Prior Periods) | Indicator | Q1 2019 | % Change vs Q1 2018 | % Change vs Q4 2018 | | :--- | :--- | :--- | :--- | | U.S. Active Rigs | 1,046 | 8.4% | (2.4%) | | International Active Rigs | 1,029 | 6.1% | 1.8% | | Worldwide Active Rigs | 2,260 | 2.4% | 0.0% | | WTI Crude Price (Avg.) | $54.83 | (12.8%) | (7.2%) | - Uncertainty surrounding 2019 budgets and the pull-forward of equipment deliveries into 2018 led to a **sharp reduction in Q1 2019 revenues**[86](index=86&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity with significant cash reserves and credit availability despite using cash for operations Financial Position as of March 31, 2019 | Item | Amount (In millions) | | :--- | :--- | | Cash and cash equivalents | $1,270 | | Total Debt (incl. leases) | $3,326 | | Availability under credit facility | $3,000 | - Net cash used by operating activities was **$38 million for Q1 2019**, compared to $129 million used in Q1 2018[105](index=105&type=chunk)[106](index=106&type=chunk) - Net cash used in investing activities was **$107 million**, including $65 million for acquisitions and $43 million for capital expenditures[108](index=108&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=28&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks stem from foreign currency exchange rates and interest rate fluctuations - The company recorded a **foreign exchange loss of approximately $9 million** in Q1 2019, compared to a $22 million loss in Q1 2018[114](index=114&type=chunk) - A hypothetical **10% adverse movement in foreign currency exchange rates** could impact net income by approximately $2 million[114](index=114&type=chunk) - Interest rate risk is primarily related to the **$3.0 billion credit facility**, as the company's $2.48 billion in Senior Notes are fixed-rate[115](index=115&type=chunk) [Controls and Procedures](index=28&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2019 - The CEO and CFO concluded that the Company's **disclosure controls and procedures are effective** as of the end of the reporting period[116](index=116&type=chunk) - **No material changes** occurred during the last fiscal quarter that affected the company's internal control over financial reporting[116](index=116&type=chunk) Part II - Other Information [Risk Factors](index=29&type=section&id=Item%201A.%20Risk%20Factors) No material changes have been made to the risk factors disclosed in the 2018 Annual Report on Form 10-K - The company and its operations continue to be subject to the **risk factors previously disclosed** in the 2018 Annual Report on Form 10-K[118](index=118&type=chunk) [Exhibits](index=29&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including required certifications and disclosures - The exhibit list includes **certifications from the CEO and CFO** pursuant to Rule 13a-14(a) and Section 906 of the Sarbanes-Oxley Act[121](index=121&type=chunk) - Exhibit 95 contains **Mine Safety Information** pursuant to the Dodd-Frank Act[119](index=119&type=chunk)[121](index=121&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE YEAR ENDED DECEMBER 31, 2018 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 1-12317 NATIONAL OILWELL VARCO, INC. (Exact name of registrant as specified in its charter) Delaware 76-0475815 (State or other jurisdiction of incorporation or organization)(IRS ...

National Oilwell Varco, Inc. (NYSE:NOV) Q4 2018 Results Conference Call February 7, 2019 11:00 AM ET Company Participants Loren Singletary - Chief Investor and Industry Relations Officer Clay Williams - Chairman, President and Chief Executive Officer Jose Bayardo - Senior Vice President and Chief Financial Officer Conference Call Participants Marshall Adkins - Raymond James Byron Pope - Tudor Pickering Holt James Wicklund - Credit Suisse Chase Mulvehill - Bank of America Merrill Lynch Jud Bailey - Wells Far ...