NOV : Second Quarter 2022 Segmented Financial Data
July 27, 2022 at 06:18 pm EDT
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NOV Inc.
Proforma Selected Financial Data
(In millions)
2020
2021
2022
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2018
2019
2020
2021
2022
6 months
Revenue:
Wellbore Technologies
$
691
$
442
$
361
$
373
$
413
$
463
$
507
$
576
$
608
$
666
$
3,235
$
3,214
$
1,867
$
1,959
$
1,274
Completion & Production Solutions
675
611
601
546
439
497
478
549
530
639
2,931
2,771
2,433
1,963
1,169
Rig Technologies
557
476
449
437
431
487
390
431
441
462
2,575
2,682
1,919
1,739
903
Eliminations
(40)
(33)
(27)
(29)
(34)
(30)
(34)
(39)
(31)
(40)
(288)
(188)
(129)
(137)
(71)
Total
$
1,883
$
1,496
$
1,384
$
1,327
$
1,249
$
1,417
$
1,341
$
1,517
$
1,548
$
1,727
$
8,453
$
8,479
$
6,090
$
5,524
$
3,275
Adjusted EBITDA:
Wellbore Technologies
$
103
$
42
$
21
$
12
$
34
$
63
$
77
$
88
$
101
$
122
$
526
$
527
$
178
$
262
$
223
Completion & Production Solutions
71
68
63
28
(4)
4
(5)
2
10
32
378
258
230
(3)
42
Rig Technologies
56
14
28
19
13
75
25
21
36
41
309
347
117
134
77
Eliminations and corporate costs
(52)
(40)
(41)
(42)
(43)
(38)
(41)
(42)
(44)
(45)
(303)
(247)
(175)
(164)
(89)
Total
$
178
$
84
$
71
$
17
$
-
$
104
$
56
$
69
$
103
$
150
$
910
$
885
$
350
$
229
$
253
Adjusted EBITDA %:
Wellbore Technologies
14.9%
9.5%
5.8%
3.2%
8.2%
13.6%
15.2%
15.3%
16.6%
18.3%
16.3%
16.4%
9.5%
13.4%
17.5%
Completion & Production Solutions
10.5%
11.1%
10.5%
5.1%
-0.9%
0.8%
(1.0)%
0.4%
1.9%
5.0%
12.9%
9.3%
9.5%
-0.2%
3.6%
Rig Technologies
10.1%
2.9%
6.2%
4.3%
3.0%
15.4%
6.4%
4.9%
8.2%
8.9%
12.0%
12.9%
6.1%
7.7%
8.5%
Eliminations and corporate costs
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
NOV consolidated
9.5%
5.6%
5.1%
1.3%
0.0%
7.3%
4.2%
4.5%
6.7%
8.7%
10.8%
10.4%
5.7%
4.1%
7.7%
Completion & Production Solutions:
Ending backlog
$
1,185
$
1,000
$
789
$
696
$
810
$
1,003
$
1,107
$
1,287
$
1,364
$
1,442
$
894
$
1,305
$
696
$
1,287
$
1,442
Revenue out of backlog
$
416
$
388
$
394
$
328
$
267
$
276
$
266
$
311
$
308
$
401
$
1,697
$
1,625
$
1,526
$
1,120
$
709
Order additions, net
$
335
$
196
$
169
$
215
$
338
$
462
$
384
$
495
$
339
$
530
$
1,564
$
2,055
$
915
$
1,679
$
869
Adjustments (1)
$
(39)
$
7
$
14
$
20
$
43
$
7
$
(14)
$
(4)
$
46
$
(51)
$
(39)
$
(19)
$
2
$
32
$
(5)
Rig Technologies:
Ending backlog
$
2,932
$
2,787
$
2,660
$
2,669
$
2,591
$
2,655
$
2,784
$
2,767
$
2,893
$
2,839
$
3,117
$
2,994
$
2,669
$
2,767
$
2,839
Revenue out of backlog
$
208
$
219
$
199
$
181
$
190
$
168
$
158
$
188
$
190
$
174
$
1,088
$
1,136
$
807
$
704
$
364
Order additions, net
$
146
$
74
$
57
$
190
$
112
$
232
$
300
$
191
$
236
$
140
$
2,497
$
1,013
$
467
$
835
$
376
Adjustments (1)
$
-
$
-
$
15
$
-
$
-
$
-
$
(13)
$
(20)
$
80
$
(20)
$
384
$
-
$
15
$
(33)
$
60
2020
2021
2022
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2018
2019
2020
2021
2022
Other items excluded from Adjusted EBITDA (2):
Wellbore Technologies
$
715
$
62
$
26
$
37
$
4
$
18
$
7
$
2
$
23
$
7
$
21
$
3,794
$
840
$
31
$
30
Completion & Production Solutions
1,054
12
23
49
(2)
(6)
7
2
16
1
-
2,042
1,138
1
17
Rig Technologies
238
20
12
154
3
8
8
3
6
(8)
6
784
424
22
(2)
Eliminations and corporate costs
16
8
1
15
2
-
2
1
-
14
(18)
11
40
5
14
Total
$
2,023
$
102
$
62
$
255
$
7
$
20
$
24
$
8
$
45
$
14
$
9
$
6,631
$
2,442
$
59
$
59
includes adjustments related to FX, cancelations, pricing and other similar items
excludes (gain)/loss on sales of fixed assets for all periods
Proforma Selected Financial Data - Tear Sheet
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Disclaimer
NOV Inc. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 22:17:01 UTC.
NOV Inc. is an independent equipment and technology provider to the global energy industry. The Company operates through two segments: Energy Equipment, and Energy Products and Services. Its engineering knowhow, global supply chain management, manufacturing, and energy infrastructure development support provides capabilities to assist customers with energy transition advancement. It is also a geothermal equipment and technology provider, offering an array of tools and equipment specifically designed for the ultra-harsh conditions associated with geothermal development. Additionally, the Company is an equipment and technology provider for purpose-built vessels used to build, install, and maintain offshore wind towers and turbines. The Company is engaged in the development and commercialization of novel products and technologies to improve the efficiencies and economics of land and offshore-based wind, geothermal power generation, and carbon capture and sequestration.