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MarketScreener Homepage  >  Equities  >  Nyse  >  National Oilwell Varco, Inc.    NOV

NATIONAL OILWELL VARCO, INC.

(NOV)
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National Oilwell Varco : Reports Wider Quarterly Loss

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04/25/2019 | 05:13pm EST

By Maria Armental

National Oilwell Varco Inc. (NOV) reported a wider loss in the most recent period, driven by difficult start of the year and capital austerity.

The first-quarter loss widened to $77 million, or 20 cents a share, from $68 million, or 18 a share a year earlier. The operating loss was $48 million, compared with a $1 million operating loss a year earlier.

Revenue for the quarter ended March 31 rose to $1.94 billion from $1.8 billion a year earlier.

The results were in line with the company's downbeat forecast as of April 12 but below analysts' projected loss of 10 cents a share on $2 billion in revenue, according to FactSet data.

On April 12, the company said it expected to report an operating loss of about $48 million and $1.94 billion in revenue, below earlier projections, citing the sharp drop in oil prices in late 2018 along with greater-than-expected capital austerity in upstream oil and gas markets.

On Thursday, Chief Executive Clay Williams said in a statement that the company expects modestly improving activity in international and offshore markets but noted that capital austerity in the North American land market leaves the company's near-term outlook uncertain.

Still, Mr. Williams said, strong order acceleration in March allowed the company to report a sequential increase in bookings, improving its outlook for the current quarter and remainder of 2019.

Write to Maria Armental at maria.armental@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
NATIONAL OILWELL VARCO, INC. -2.87% 20.995 Delayed Quote.-2.33%
NATIONAL OILWELL VARCO, INC. -1.74% 23.21 Delayed Quote.-7.35%
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Financials (USD)
Sales 2020 8 545 M
EBIT 2020 580 M
Net income 2020 281 M
Debt 2020 369 M
Yield 2020 0,86%
P/E ratio 2020 28,5x
P/E ratio 2021 20,8x
EV / Sales2020 1,09x
EV / Sales2021 1,00x
Capitalization 8 958 M
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Technical analysis trends NATIONAL OILWELL VARCO, IN
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 27,00  $
Last Close Price 23,21  $
Spread / Highest target 42,2%
Spread / Average Target 16,3%
Spread / Lowest Target -3,49%
EPS Revisions
Managers
NameTitle
Clay C. Williams Chairman, President & Chief Executive Officer
Jose A. Bayardo Chief Financial Officer & Senior Vice President
Hege Kverneland Chief Technology Officer & Vice President
Alex Philips Chief Information Officer
Eric L. Mattson Independent Director
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