NOV Q4 2019 Earnings Report
Key Takeaways
National Oilwell Varco reported Q4 2019 revenues of $2.28 billion, a 7% increase compared to the previous quarter but a 5% decrease compared to Q4 2018. The net loss for the quarter was $385 million, including $537 million in non-cash, pre-tax charges. Adjusted EBITDA increased sequentially to $288 million, representing 12.6% of sales.
NOV's team executed well in a challenging market, driving cost savings and efficiencies in working capital.
International and offshore markets saw continued improvements, partially offset by a decline in spending in North America.
All three operating segments delivered sequential improvements in adjusted EBITDA.
NOV remains focused on creating value for shareholders by supporting customers with products and services that enhance returns, improve safety, and extend equipment life.
NOV
NOV
NOV Revenue by Segment
Forward Guidance
NOV remains focused on creating value for its shareholders by supporting customers across all phases of oil and gas operations with products and services.
Revenue & Expenses
Visualization of income flow from segment revenue to net income