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Sep 30, 2022
NOV Q3 2022 Earnings Report
Reported third quarter results with revenue up 41% year-over-year and solid execution and ongoing improvements in demand from both oil & gas and renewables markets.
Key Takeaways
NOV Inc. reported third quarter 2022 revenues of $1.89 billion, an increase of 41 percent compared to the third quarter of 2021. Net income for the third quarter of 2022 was $32 million. Operating profit was $55 million. Adjusted EBITDA increased sequentially to $195 million.
Revenue of $1.89 billion, up 9% sequentially and 41% year-over-year
Operating Profit of $55 million, down $13 million sequentially and up $98 million year-over-year
Net Income of $32 million, or $0.08 per fully diluted share
Adjusted EBITDA of $195 million, up $45 million sequentially and $139 million year-over-year
Forward Guidance
With industry capital spending still below levels sufficient to meet the world’s energy needs, despite recessionary concerns, our outlook for continued rising demand for NOV’s energy technologies is very bright.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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