The call highlighted strong cash flow generation, record revenues in specific segments, and consistent margin growth in the Energy Equipment segment. However, these positives were offset by declines in aftermarket sales, tariff and inflation challenges, and decreased demand in key markets. The sentiment is mixed, with achievements counterbalanced by significant challenges.

Company Guidance

In the second quarter of 2025, NOV reported revenues of $2.2 billion, a 4% increase from the first quarter of 2025 and a 1% decrease from the second quarter of 2024. The company's net income was $108 million, translating to $0.29 per fully diluted share, with adjusted EBITDA reaching $252 million or 11.5% of sales. The Energy Equipment segment saw a 5% sequential revenue growth due to strong capital equipment sales, despite a significant reduction in demand for aftermarket parts and services. Meanwhile, the Energy Products and Services segment achieved a 3% sequential revenue increase, outperforming a 6% decline in global drilling activity. However, the segment faced margin compression due to lower demand for consumable products in North America and other regions, as well as tariff-related and inflationary pressures. Looking ahead, NOV forecasts a year-over-year consolidated revenue decline of 1% to 3% for the third quarter, with adjusted EBITDA expected to be between $230 million and $250 million. The company remains optimistic about future opportunities in offshore activities and the growing demand for LNG and unconventional gas solutions, supported by its strong balance sheet and significant backlog.

Strong Free Cash Flow

NOV generated free cash flow of $108 million in the second quarter, converting 83% of EBITDA to free cash flow over the last 12 months, resulting in a total of over $1.2 billion in free cash flow during the last 5 quarters.

Record Revenues in Subsea Flexible Pipe and Process Systems

Second quarter revenue in the Subsea Flexible Pipe business reached an all-time high, and Process Systems also achieved record high revenues, showing significant year-over-year growth.

Consistent Margin Growth in Energy Equipment Segment

The Energy Equipment segment delivered its 12th straight quarter of year-over-year margin expansion, with EBITDA increasing $16 million to $158 million and a 130-basis point increase in EBITDA margins.

Strategic Share Repurchases and Dividends

NOV repurchased 10.9 million shares for $150 million and paid dividends totaling $135 million in the first half of 2025, returning $602 million to shareholders while increasing the cash balance by $612 million since March 2024.

NOV (NOV) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

NOV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.26 / -	0.343	―	―	―
Jul 29, 2025	2025 (Q2)	0.29 / 0.34	0.253	33.60% (+0.09)
Apr 28, 2025	2025 (Q1)	0.25 / 0.22	0.3	-25.33% (-0.08)	―
Feb 04, 2025	2024 (Q4)	0.36 / 0.43	1.603	-73.11% (-1.17)
Oct 24, 2024	2024 (Q3)	0.35 / 0.34	0.267	28.46% (+0.08)
Jul 25, 2024	2024 (Q2)	0.35 / 0.25	0.39	-35.13% (-0.14)
Apr 25, 2024	2024 (Q1)	0.27 / 0.30	0.189	58.73% (+0.11)
Feb 01, 2024	2023 (Q4)	0.41 / 1.60	0.149	975.84% (+1.45)	―
Oct 26, 2023	2023 (Q3)	0.35 / 0.27	0.21	27.14% (+0.06)	―
Jul 26, 2023	2023 (Q2)	0.29 / 0.39	0.18	116.67% (+0.21)	―

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

NOV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 29, 2025	$13.03	$12.78	-1.92%
Apr 28, 2025	$11.96	$11.72	-2.01%
Feb 04, 2025	$14.17	$15.96	+12.63%
Oct 24, 2024	$14.76	$15.20	+2.98%

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.

FAQ

When does NOV (NOV) report earnings?

NOV (NOV) is schdueled to report earning on Oct 23, 2025, After Close (Confirmed).

What is NOV (NOV) earnings time?

NOV (NOV) earnings time is at Oct 23, 2025, After Close (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 2025 (Q3) is 0.26.

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing