NOV Q4 2022 Earnings Report
Key Takeaways
NOV Inc. reported Q4 2022 revenues of $2.07 billion, a 37% increase year-over-year. Net income was $104 million, and operating profit was $162 million. Adjusted EBITDA increased to $231 million, representing 11.1% of sales.
Revenue increased by 37% year-over-year to $2.07 billion.
Operating profit reached $162 million, reflecting a significant increase from the previous year.
Net income was reported at $104 million, or $0.26 per fully diluted share.
Adjusted EBITDA increased to $231 million, representing 11.1% of sales.
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NOV Revenue by Segment
Forward Guidance
While recent declines in North American natural gas prices and persistent global recession risks may pose near-term headwinds to oilfield activity, we believe that the world simply must rebuild and fortify its petroleum supply capability soon and a sustained oil and gas up-cycle is required to increase energy security across the globe.
Challenges Ahead
- Recent declines in North American natural gas prices may pose near-term headwinds to oilfield activity.
- Persistent global recession risks may pose near-term headwinds to oilfield activity.