Strong Financial Performance
NOV reported revenues of $2.18 billion and a net income of $42 million for the third quarter of 2025. EBITDA was $258 million or 11.9% of revenue, showing sequential improvement despite challenging conditions.
Robust Backlog and Bookings
Energy Equipment segment's backlog reached $4.56 billion, with capital equipment orders of $951 million, representing a book-to-bill ratio of 141% for the quarter.
Growth in Offshore Production Equipment
Capital equipment sales increased by 20% year-over-year in the Energy Equipment segment, driven by strong growth in offshore production equipment.
Cost Control and Cash Flow Generation
NOV achieved a 95% free cash flow conversion rate during the quarter, driven by strong project execution and cost control measures.
International Expansion Opportunities
Increasing demand for coiled tubing and wireline equipment in international markets, driven by unconventional resource development in regions like Argentina, Saudi Arabia, and the UAE.