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NOV Inc. (NOV)
:NOV
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Earnings Data
Report Date
Feb 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.37Last Year’s EPS
1.6Same Quarter Last Year
Based on 16 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2018
|% Change Since: -0.46%
|Next Earnings Date:Jul 26, 2018
Earnings Call Sentiment|Neutral
The earnings call reflects a company that is effectively navigating some challenging market conditions with strong execution leading to improved EBITDA, free cash flow, and a record backlog in flexible pipe. However, challenges in North American activity, a decline in drill pipe sales, and potential slowdown in offshore drilling equipment demand due to global economic concerns present significant headwinds.Company Guidance
During the third quarter of 2024, NOV Inc. reported revenues of $2.19 billion with a net income of $130 million, translating to $0.33 per fully diluted share. The company achieved an EBITDA of $286 million, marking a 2% sequential increase and a 7% year-over-year rise. The EBITDA margin improved to 13.1%, driven by strong execution, higher margin backlog, and enhanced operational efficiency. Cash flow from operations was a robust $359 million, contributing to a free cash flow of $277 million. The Energy Equipment segment saw a book-to-bill ratio of 111% for the quarter, indicating strong demand, especially in offshore production equipment, with orders totaling $627 million and backlog reaching $4.5 billion. Despite emerging global economic headwinds, the company remains confident in the long-term demand for its products, supported by significant final investment decisions in deepwater and unconventional shale projects. Additionally, NOV's acquisition strategy continues with a focus on technology-driven growth, exemplified by the recent acquisition of Fortress Downhole Tools.Improved EBITDA and Margins
EBITDA improved to $286 million, up 2% sequentially and 7% year-over-year, with margins moving up to 13.1%.
Strong Free Cash Flow
NOV generated $277 million of free cash flow in Q3 and $480 million year-to-date.
Record Backlog for Flexible Pipe
Backlog for flexible pipe for deepwater developments eclipsed $1 billion for the first time ever.
Positive Book-to-Bill Ratio
The Energy Equipment segment achieved a book-to-bill ratio of 111% for Q3 and 123% year-to-date.
Successful Acquisition Strategy
Completed acquisition of Fortress Downhole Tools and maintained strong acquisition strategy focused on technology-focused opportunities.
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NOV Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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NOV Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $15.19 | $15.64 | +2.96% |
| Jul 25, 2024 | $18.49 | $19.66 | +6.33% |
| Apr 25, 2024 | $18.69 | $18.61 | -0.43% |
| Feb 01, 2024 | $19.52 | $17.33 | -11.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does NOV Inc. (NOV) report earnings?
NOV Inc. (NOV) is schdueled to report earning on Feb 04, 2025, TBA Not Confirmed.
What is NOV Inc. (NOV) earnings time?
NOV Inc. (NOV) earnings time is at Feb 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NOV EPS forecast?
NOV EPS forecast for the fiscal quarter 2024 (Q4) is 0.37.
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