Articles from NOV Inc.

NOV Inc. (NYSENOV) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.075 per share of common stock, payable on March 28, 2025 to each stockholder of record on March 14, 2025.

NOV Inc. (NYSENOV) today reported fourth quarter 2024 revenues of $2.31 billion, a decrease of one percent compared to the fourth quarter of 2023. Net income decreased $438 million, or $1.10 per diluted share, year-over-year from $598 million, which included the release of valuation allowances on deferred tax assets of $485 million. Operating profit increased 29 percent to $207 million, or 9.0 percent of sales. The Company recorded $7 million in pre-tax charges within Other Items (see Corporate Information for additional details). Adjusted EBITDA increased three percent year-over-year to $302 million, or 13.1 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its fourth quarter and full year 2024 results on Wednesday, February 5, 2025, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Tuesday, February 4, 2025. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) announced today that Chris Kendall has been appointed to the Company’s Board of Directors, effective December 15, 2024.

NOV Inc. (NYSENOV) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.075 per share of common stock, payable on December 20, 2024 to each stockholder of record on December 6, 2024.

NOV Inc. (NYSENOV) today reported third quarter 2024 revenues of $2.19 billion, an increase of $6 million compared to the third quarter of 2023. Net income increased 14 percent to $130 million, or $0.33 per share, and operating profit increased six percent to $194 million, or 8.9 percent of sales. The Company recorded $5 million within Other Items (see Corporate Information for additional details). Adjusted EBITDA increased seven percent year-over-year to $286 million, or 13.1 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its third quarter 2024 results on Friday, October 25, 2024, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, October 24, 2024. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) announced today that its Board of Directors declared a regular quarterly cash dividend of $0.075 per share of common stock, payable on September 27, 2024 to each stockholder of record on September 13, 2024.

NOV Inc. (NYSENOV) today reported second quarter 2024 revenues of $2.22 billion, an increase of six percent compared to the second quarter of 2023. Net income was $226 million, or 10.2 percent of sales, an increase of $71 million compared to the second quarter of 2023. Operating profit was $313 million, or 14.1 percent of sales. The Company recorded a net credit of $118 million within Other Items (see Corporate Information for additional details). Adjusted EBITDA increased 15 percent year-over-year to $281 million, or 12.7 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its second quarter 2024 results on Friday, July 26, 2024, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, July 25, 2024. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its board of directors declared the regular quarterly cash dividend of $0.075 per share of common stock, payable on June 28, 2024 to each stockholder of record on June 14, 2024.

NOV Inc. (NYSENOV) today reported first quarter 2024 revenues of $2.16 billion, an increase of 10 percent compared to the first quarter of 2023. Net income was $119 million, or 5.5 percent of sales, a decrease of $7 million compared to the first quarter of 2023 primarily due to a higher tax rate and lower income from unconsolidated entities. Operating profit was $162 million, or 7.5 percent of sales. The Company recorded a net pre-tax credit of $3 million within Other Items (see Corporate Information for additional details). Adjusted EBITDA increased 24 percent year-over-year to $241 million, or 11.2 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its first quarter 2024 results on Friday, April 26, 2024, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, April 25, 2024. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) announced today the appointment of Patricia Martinez to NOV’s Board of Directors, effective March 6, 2024.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on March 28, 2024 to each stockholder of record on March 14, 2024.

NOV Inc. (NYSENOV) today reported fourth quarter 2023 revenues of $2.34 billion, an increase of seven percent compared to the third quarter of 2023 and an increase of 13 percent compared to the fourth quarter of 2022. Net income for the fourth quarter of 2023 was $598 million, which included the release of valuation allowances on deferred tax assets of $485 million. Operating profit was $161 million, or 6.9 percent of sales, for the fourth quarter. Under Other Items the Company recorded a net pre-tax charge of $55 million (see Corporate Information for additional details). Adjusted EBITDA increased 10 percent sequentially to $294 million, or 12.5% percent of sales.

NOV Inc. (NYSENOV) announced today that Patricia B. "Patti" Melcher has been appointed to the Company’s Board of Directors, effective January 17, 2024. Ms. Melcher is currently a Managing Partner of EIV Capital, an energy-focused private equity firm she co-founded in 2009.

NOV Inc. (NYSENOV) will hold a conference call to discuss its fourth quarter and full year 2023 results on Friday, February 2, 2024, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, February 1, 2024. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on December 22, 2023 to each stockholder of record on December 8, 2023.

NOV Inc. (NYSENOV) announced the retirement of Isaac Joseph, President of Wellbore Technologies, and Kirk Shelton, President of Completion and Production Solutions, effective December 31, 2023.

NOV Inc. (NYSENOV) today reported third quarter 2023 revenues of $2.19 billion, an increase of four percent compared to the second quarter of 2023 and an increase of 16 percent compared to the third quarter of 2022. Net income for the third quarter of 2023 was $114 million, or 5.2 percent of sales. Operating profit was $183 million, or 8.4 percent of sales. Under Other Items the Company recorded a net pre-tax charge of $7 million (see Corporate Information for additional details). Adjusted EBITDA increased sequentially to $267 million, or 12.2 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its third quarter 2023 results on Friday, October 27, 2023, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, October 26, 2023. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on September 29, 2023 to each stockholder of record on September 15, 2023.

NOV Inc. (NYSENOV) today reported second quarter 2023 revenues of $2.09 billion, an increase of seven percent compared to the first quarter of 2023 and an increase of 21 percent compared to the second quarter of 2022. Net income for the second quarter of 2023 was $155 million, or 7.4 percent of sales. Operating profit was $181 million, or 8.6 percent of sales. Under Other Items the Company recorded a net pre-tax credit of $7 million (see Corporate Information for additional details). Adjusted EBITDA increased sequentially to $245 million, or 11.7 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its second quarter 2023 results on Thursday, July 27, 2023, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Wednesday, July 26, 2023. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on June 30, 2023 to each stockholder of record on June 16, 2023.

NOV Inc. (NYSENOV) today reported first quarter 2023 revenues of $1.96 billion, a decrease of 5 percent compared to the fourth quarter of 2022 and an increase of 27 percent compared to the first quarter of 2022. Net income for the first quarter of 2023 was $126 million, or 6.4 percent of sales. Operating profit was $126 million, or 6.4 percent of sales. Under Other Items the Company recorded a net pre-tax credit of $4 million (see Corporate Information for additional details). Adjusted EBITDA decreased sequentially to $195 million, or 9.9 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its first quarter 2023 results on Thursday, April 27, 2023, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Wednesday, April 26, 2023. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on March 31, 2023 to each stockholder of record on March 17, 2023.

NOV Inc. (NYSENOV) today reported fourth quarter 2022 revenues of $2.07 billion, an increase of 10 percent compared to the third quarter of 2022 and an increase of 37 percent compared to the fourth quarter of 2021. Net income for the fourth quarter of 2022 was $104 million, or 5.0 percent of sales. Operating profit was $162 million, or 7.8 percent of sales. Under Other Items the Company recorded a net pre-tax credit of $8 million (see Corporate Information for additional details). Adjusted EBITDA increased sequentially to $231 million, or 11.1 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its fourth quarter and full year 2022 results on Tuesday, February 7, 2023, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Monday, February 6, 2023. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on December 23, 2022 to each stockholder of record on December 9, 2022.

NOV Inc. (NYSENOV) today reported third quarter 2022 revenues of $1.89 billion, an increase of 9 percent compared to the second quarter of 2022 and an increase of 41 percent compared to the third quarter of 2021. Net income for the third quarter of 2022 was $32 million, or 1.7 percent of sales, which included $63 million of Other Items (see Corporate Information for additional details). Operating profit was $55 million, or 2.9 percent of sales, and included $63 million of Other Items. Adjusted EBITDA increased sequentially to $195 million, or 10.3 percent of sales.”

NOV Inc. (NYSENOV) will hold a conference call to discuss its third quarter 2022 results on Friday, October 28, 2022, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, October 27, 2022. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on September 30, 2022 to each stockholder of record on September 16, 2022.

NOV Inc. (NYSENOV) today reported second quarter 2022 revenues of $1.73 billion, an increase of 12 percent compared to the first quarter of 2022 and an increase of 22 percent compared to the second quarter of 2021. Net income for the second quarter of 2022 was $69 million, or 4.0 percent of sales, which included $14 million of Other Items (see Corporate Information for additional details). Operating profit was $68 million, or 3.9% of sales, and included $14 million of Other Items. Adjusted EBITDA increased sequentially to $150 million, or 8.7 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its second quarter 2022 results on Thursday, July 28, 2022, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Wednesday, July 27, 2022. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on June 24, 2022 to each stockholder of record on June 10, 2022.

NOV Inc. (NYSENOV) today reported first quarter 2022 revenues of $1.55 billion, an increase of 2 percent compared to the fourth quarter of 2021 and an increase of 24 percent compared to the first quarter of 2021. Net loss for the first quarter of 2022 was $50 million, or 3.2 percent of sales, which included $45 million of Other Items (see Corporate Information for additional details). Adjusted EBITDA (operating profit excluding depreciation, amortization, gain and loss on sales of fixed assets, and, when applicable, Other Items) increased sequentially to $103 million, or 6.7 percent of sales. See reconciliation of Adjusted EBITDA to Net Income (Loss).

NOV Inc. (NYSENOV) will hold a conference call to discuss its first quarter 2022 results on Friday, April 29, 2022 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, April 28, 2022. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today reported fourth quarter 2021 revenues of $1.52 billion, an increase of 13 percent compared to the third quarter of 2021 and an increase of 14 percent compared to the fourth quarter of 2020. Net loss for the fourth quarter of 2021 was $40 million, or 2.6 percent of sales, which included $11 million in pre-tax charges related to continued COVID-19 challenges on projects in Asian shipyards and $9 million of Other Items (see Corporate Information for additional details). Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) increased sequentially to $69 million, or 4.5 percent of sales. See reconciliation of Adjusted EBITDA to Net Income (Loss).

NOV Inc. (NYSENOV) will hold a conference call to discuss its fourth quarter 2021 results on Friday, February 4, 2022 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, February 3, 2022. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today announced that its Board of Directors has reinstated its regular quarterly cash dividend of $0.05 per share of common stock.

NOV Inc. (NYSENOV) today reported third quarter 2021 revenues of $1.34 billion, a decrease of 5 percent compared to the second quarter of 2021 and a decrease of 3 percent compared to the third quarter of 2020. Net loss for the third quarter of 2021 was $69 million, or 5.1 percent of sales, which included $12 million in pre-tax charges related to COVID-19 operational disruptions on a project in a Southeast Asian shipyard and $24 million in Other Items (see Corporate Information for additional details). Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) decreased sequentially to $56 million, or 4.2 percent of sales.

NOV Inc. (NYSENOV) announced today that Robert Welborn has been appointed to the Company’s Board of Directors, effective October 20, 2021.

NOV Inc. (NYSENOV) today announced Scott K. Duff Vice President, Corporate Controller and Chief Accounting Officer, notified the Company of his intention to retire. Mr. Duff will step down from his current role effective November 1, 2021 and remain employed as an advisor until his retirement on February 28, 2022. Christy H. Novak will succeed Mr. Duff as Vice President, Corporate Controller and Chief Accounting Officer effective November 1, 2021.

NOV Inc. (NYSENOV) today announced the signing of a contract with COSCO SHIPPING Heavy Industry and Cadeler to supply two GustoMSC™ NG-20000X self-propelled wind turbine installation jack-up vessel designs, which will be known as the Cadeler X-Class.

NOV Inc. (NYSENOV) will hold a conference call to discuss its third quarter 2021 results on Wednesday, October 27, 2021 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Tuesday, October 26, 2021. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today reported second quarter 2021 revenues of $1.42 billion, an increase of 13 percent compared to the first quarter of 2021 and a decrease of five percent compared to the second quarter of 2020. Net loss for the second quarter of 2021 was $26 million, or 1.8 percent of sales, which included pre-tax net charges (“Other Items”, see Other Corporate Items for additional detail) of $15 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) increased sequentially to $104 million, or 7.3 percent of sales.

NOV Inc. (NYSENOV) will hold a conference call to discuss its second quarter 2021 results on Wednesday, July 28, 2021 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Tuesday, July 27, 2021. The call will be webcast live on www.nov.com/investors.

NOV Inc. (NYSENOV) today reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included non-cash, pre-tax charges (“other items”, see Other Corporate Items for additional detail) of $9 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) decreased $17 million sequentially to $0.