Nov Inc. (NOV) came out with quarterly earnings of $0.33 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -5.71%. A quarter ago, it was expected that this oil and gas industry supplier would post earnings of $0.35 per share when it actually produced earnings of $0.57, delivering a surprise of 62.86%. Over the last four quarter ...

NOV Inc. (NOV) is set to release third-quarter results on Oct 24, 2024. The current Zacks Consensus Estimate for earnings is pegged at 35 cents per share and that for revenues is pinned at $2.23 billion.Let us delve into the factors that are likely to have influenced the oilfield service provider’s performance in the June quarter. But first, it is worth taking a look at NOV’s performance in the last reported quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Highlights of Q2 E ...

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Company Overview - NOV Inc., formerly known as National Oilwell Varco, is a leading company in the design, manufacture, and sale of systems, components, products, and equipment for oil and gas drilling and production globally [7]. - The company focuses on proprietary technologies aimed at reducing the industry's marginal cost per barrel [7]. Investment Ratings - NOV is currently rated as a 3 (Hold) on the Zacks Rank, indicating a neutral outlook [7]. - The company has a VGM Score of A, reflecting strong overall performance across value, growth, and momentum metrics [7][8]. Value Metrics - NOV has a Value Style Score of A, supported by a forward P/E ratio of 10.99, which is attractive for value investors [7]. - The Zacks Consensus Estimate for NOV's earnings per share for fiscal 2024 has increased by $0.04 to $1.60, following upward revisions from six analysts in the last 60 days [7]. Earnings Performance - NOV has demonstrated an average earnings surprise of 22.1%, indicating a history of exceeding earnings expectations [7].

Core Insights - Zacks Premium offers tools for investors to enhance their stock market strategies, including daily updates, research reports, and stock screens [1] Zacks Style Scores - Zacks Style Scores are indicators that rate stocks based on value, growth, and momentum, helping investors identify stocks likely to outperform the market in the next 30 days [2] - Stocks are rated from A to F, with A indicating the highest potential for outperformance [2] Value Score - The Value Score identifies attractive stocks using ratios like P/E, PEG, and Price/Sales, focusing on finding undervalued stocks [2] Growth Score - The Growth Score assesses a company's financial health and future outlook, analyzing projected and historical earnings, sales, and cash flow [3] Momentum Score - The Momentum Score helps investors capitalize on price trends, using metrics like weekly price changes and monthly earnings estimate changes [3] VGM Score - The VGM Score combines the three Style Scores, providing a comprehensive rating based on value, growth, and momentum [3] Zacks Rank - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [4] - There are over 800 top-rated stocks available, making selection challenging for investors [4] Investment Strategy - To maximize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [5] - Stocks with lower ranks but high Style Scores may still carry risks if earnings forecasts are declining [5] Company Spotlight: NOV Inc. - NOV Inc., based in Houston, TX, is a leader in oil and gas drilling and production systems, aiming to reduce industry costs [6] - Currently rated 3 (Hold) by Zacks, NOV has a VGM Score of A and a Growth Style Score of A, with a projected earnings growth of 5.2% for the current fiscal year [6] - The Zacks Consensus Estimate for NOV's earnings has increased by $0.05 to $1.61 per share, with an average earnings surprise of 22.1% [6][7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 OR Washington, D.C. 20549 FORM 10-Q (Mark one) Commission File Number 1-12317 NOV INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS Employer Identification No. ...

Core Insights - NOV Inc. reported second-quarter 2024 adjusted earnings of 57 cents per share, exceeding the Zacks Consensus Estimate of 35 cents and up from 39 cents in the previous year, driven by improved execution, customer demand, and pricing [1] - Total revenues reached $2.2 billion, surpassing the Zacks Consensus Estimate by 1.5% and increasing 5.9% from $2.1 billion in the prior year [1] - The company repurchased 2 million shares at an average price of $18.5 and increased its base dividend by 50%, alongside a net credit of $118 million from divesting its Pole Products business [1] Financial Performance - Energy Products and Services segment reported revenues of $1.1 billion, missing projections but exceeding the prior year's $1 billion, attributed to strong international and offshore demand [3] - Adjusted EBITDA for this segment was $184 million, slightly below the estimate of $185.7 million and down from $198 million year-over-year due to decreased North American activity [3] - Energy Equipment segment revenues increased 7.8% year-over-year to $1.2 billion, beating projections, with adjusted EBITDA rising to $142 million from $99 million in the previous year [4] Order Backlog and Capital - Energy Equipment segment saw new orders of $977 million, a $466 million increase year-over-year, resulting in a book-to-bill ratio of 177% [4] - As of June 30, 2024, the backlog for Energy Equipment capital orders was $4.3 billion, reflecting a $472 million increase from the previous year [4] - The company had cash and cash equivalents of $827 million and long-term debt of $1.7 billion, with a debt-to-capitalization ratio of 21.1% [5] Future Outlook - For the third quarter, management projects consolidated revenues to be flat or increase by a low single-digit percentage year-over-year, with adjusted EBITDA expected between $270 million and $305 million [6] - Full-year 2024 revenue growth is estimated in the low to mid-single digits, with adjusted EBITDA between $1.10 billion and $1.18 billion, and capital expenditures projected at $330 million [6] - The company plans to return at least 50% of excess free cash flow to shareholders through dividends and stock buybacks [7]

NOV Inc. Second Quarter 2024 Earnings Presentation July 26, 2024 Safe Harbor / Forward-Looking Statements / Non-GAAP Financial Measures Statements in this presentation, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. Statements of hopes, beliefs, expectations, and predictions of future performance are subject to numerous risks and uncertainties, many of which are beyond the Company's control. Actual results may di ...

NOV Inc. (NYSE:NOV) Q2 2024 Earnings Conference Call July 26, 2024 11:00 AM ET Company Participants Amie D'Ambrosio - Director, Investor Relations Clay Williams - Chairman, President and CEO Jose Bayardo - Senior Vice President and CFO Conference Call Participants Jim Rollyson - Raymond James James West - Evercore Arun Jayaram - JPMorgan Marc Bianchi - TD Cowen Luke Lemoine - Piper Sandler Stephen Gengaro - Stifel Operator Good day and thank you for standing by. Welcome to Q2 NOV, Inc. Earnings Conference C ...