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NOV
🇺🇸 NYSE:NOV
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•
Sep 30, 2021

NOV Q3 2021 Earnings Report

Reported third quarter results with revenues decreasing and a net loss recorded.

Key Takeaways

NOV Inc. 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.

Rising oil and gas prices continue to drive higher demand for NOV.

Orders again exceeded shipments in the third quarter.

Offshore wind power related projects drive more than half of Rig Technology segment’s orders.

NOV is well positioned to generate much stronger financial returns from the coming multi-year up-cycle in both the conventional and renewable energy markets.

Total Revenue
$1.34B
Previous year: $1.38B
-3.1%
EPS
-$0.09
Previous year: $0.02
-550.0%
Gross Profit
$185M
Previous year: $139M
+33.1%
Cash and Equivalents
$1.67B
Previous year: $1.49B
+12.3%
Free Cash Flow
$66M
Previous year: $274M
-75.9%
Total Assets
$9.57B
Previous year: $10.2B
-5.9%

NOV

NOV

NOV Revenue by Segment

Forward Guidance

Rising economic activity and higher backlogs continue to underpin the improving outlook for 2022.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View NOV