AI Earnings Predictions for NOV Inc. (NOV)

EX-99.1

2 nov-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

NEWS

Contact: Amie D'Ambrosio (713) 375-3826

FOR IMMEDIATE RELEASE

NOV Reports third quarter 2026 EARNINGS

• Revenues of $2.23 billion, up 4% sequentially and up 2% year-over-year

• Net income of $90 million, or $0.25 per share, a decrease of $22 million sequentially and up $48 million year-over-year

• Adjusted EBITDA1,2 of $281 million, down $2 million sequentially and up $23 million year-over-year

• Bookings of $577 million, representing a book-to-bill of 91%

1 Free Cash Flow, Excess Free Cash Flow, Adjusted operating profit, and Adjusted EBITDA are non-GAAP measures, see “Non-GAAP Financial Measures,” and “Reconciliation of GAAP to non-GAAP measures” below.

2 Adjusted EBITDA for the second and third quarter of 2026 includes a benefit of approximately $40 million and $5 million, respectively, related to tariff refunds

HOUSTON, TX, October 27, 2026  NOV Inc. (NYSE: NOV) today reported third quarter 2026 revenues of $2.23 billion, an increase of four percent sequentially and an increase of two percent compared to the third quarter of 2025. Net income increased $48 million, or $0.14 per diluted share, year-over-year to $90 million. Operating profit was $142 million, or 6.4 percent of sales, an increase of 33 percent versus the third quarter of 2025. Adjusted operating profit was $188 million, an increase of 11 percent versus the third quarter of 2025. Adjusted EBITDA increased $23 million year-over-year to $281 million, or 12.6 percent of sales. Third quarter 2026 Adjusted operating profit and Adjusted EBITDA include a benefit of approximately $5 million related to tariff refunds.

“NOV delivered another strong quarter, building on the operational momentum established earlier this year,” said Jose Bayardo, Chairman, President, and CEO. “The solid sequential and year-over-year revenue growth reflects our continued focus on supporting customers in the Middle East and ramping manufacturing throughput against our growing backlog of capital equipment orders in our Energy Products and Services segment. Strong Adjusted EBITDA flowthrough, excluding tariff refund benefits, reflects disciplined execution, continued efficiency gains, and our efforts to better leverage NOV’s global platform.

“We expect geopolitical events will continue to create near-term disruptions and expect a moderation in Middle East activity during the fourth quarter as certain customers adjust their drilling programs. At the same time, the broader geopolitical backdrop continues to reinforce the need to strengthen energy security, diversify sources of supply, and replenish global inventories. Combined with the limited availability of modern, higher-specification equipment following a decade of restrained industry reinvestment, these needs create a constructive backdrop for demand for equipment and technologies that improve efficiency, reliability, and overall project economics.

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“We have positioned NOV for the market environment now emerging. Our technology leadership, strong market positions, global footprint, and continued operational improvements give us confidence in our ability to capitalize on the expanding opportunity set and demonstrate materially greater earnings power over the coming years.”

Energy Equipment

Energy Equipment generated revenues of $1.22 billion in the third quarter of 2026, a decrease of two percent from the third quarter of 2025. Operating profit decreased $8 million from the prior year to $122 million, or 10.0 percent of sales, and included $14 million in pre-tax Other Items and a $22 million net loss on write-down of fixed assets. Adjusted EBITDA increased $7 million from the prior year to $187 million, or 15.3 percent of sales. The decrease in revenue was due to the completion of certain offshore production related projects that were not fully offset by increased demand for the segment’s other products and services. Adjusted EBITDA margins expanded, driven by a favorable project mix and improved margins in backlog.

New orders booked during the quarter totaled $577 million representing a book-to-bill of 91 percent when compared to $632 million of orders shipped from backlog. As of September 30, 2026, backlog for capital equipment orders for Energy Equipment totaled $3.98 billion.

Energy Products and Services

Energy Products and Services generated revenues of $1.06 billion in the third quarter of 2026, an increase of nine percent from the third quarter of 2025. Operating profit increased $50 million from the prior year to $88 million, or 8.3 percent of sales, and included $7 million in pre-tax Other Items and a $4 million gain on sales of fixed assets. Adjusted EBITDA increased $18 million from the prior year to $153 million, or 14.5 percent of sales. Revenue growth was led by increasing manufacturing throughput against the segment’s growing backlog of drill pipe and composite equipment. Continued improvement in cost structure and ope

EX-99.1

2 nov-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

NEWS

Contact: Amie D'Ambrosio (713) 375-3826

FOR IMMEDIATE RELEASE

NOV Reports Second quarter 2026 EARNINGS

• Revenues of $2.13 billion, up 4% sequentially and down 2% year-over-year

• Net income of $112 million, or $0.31 per share, an increase of $93 million sequentially and $4 million year-over-year

• Adjusted EBITDA1,2 of $283 million, an increase of $106 million sequentially and $31 million year-over-year

• Returned $127 million of capital to shareholders through share repurchases and dividends

• Bookings of $474 million, representing a book-to-bill of 74%

1 Free Cash Flow, Excess Free Cash Flow, Adjusted operating profit, and Adjusted EBITDA are non-GAAP measures, see “Non-GAAP Financial Measures,” and “Reconciliation of GAAP to non-GAAP measures” below.

2 Second quarter 2026 Adjusted EBITDA includes a benefit of approximately $40 million related to tariff refunds

HOUSTON, TX, July 28, 2026  NOV Inc. (NYSE: NOV) today reported second quarter 2026 revenues of $2.13 billion, an increase of four percent sequentially and a decrease of two percent compared to the second quarter of 2025. Net income increased $4 million, or $0.02 per diluted share, year-over-year to $112 million. Operating profit was $193 million, or 9.0 percent of sales, an increase of 35 percent versus the second quarter of 2025. Adjusted operating profit was $190 million, an increase of 15 percent versus the second quarter of 2025. Adjusted EBITDA increased $31 million year-over-year to $283 million, or 13.3 percent of sales. Second quarter 2026 Adjusted operating profit and Adjusted EBITDA include a benefit of approximately $40 million related to tariff refunds.

“NOV’s second quarter results reflect outstanding execution by our team in a market that is demonstrating significantly improved underlying industry fundamentals,” said Jose Bayardo, Chairman, President, and CEO. “During the second quarter, we were better able to navigate the continued logistical challenges in the Middle East, while our businesses benefited from improving demand in most major regions.

“While recent price volatility and geopolitical uncertainty continue to cause temporary disruptions and project deferrals, we are encouraged by a growing pipeline of capital equipment opportunities and improving short cycle activity across most markets. Additionally, it is becoming increasingly apparent that depleting inventories and significantly heightened focus on energy security, combined with a decade of constrained investments in the industry’s asset base, is starting a synchronized global recovery that should drive meaningful demand for NOV’s technology and equipment over the next several years.

“We believe the actions our organization is taking, including continued investment in the development of superior solutions for our customers and initiatives to drive efficiencies across our operations, position NOV to demonstrate meaningfully higher earnings over the coming years.”

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Energy Equipment

Energy Equipment generated revenues of $1.22 billion in the second quarter of 2026, an increase of one percent from the second quarter of 2025. Operating profit increased $55 million from the prior year to $177 million, or 14.5 percent of sales, and included $2 million in pre-tax Other Items and a $7 million gain on sales of fixed assets. Adjusted EBITDA increased $42 million from the prior year to $200 million, or 16.4 percent of sales, and includes a benefit of approximately $14 million related to tariff refunds. Strong execution on offshore production projects nearing completion and a more favorable sales mix drove the improvement in revenue and profitability.

New orders booked during the quarter totaled $474 million, an increase of $54 million when compared to the $420 million of new orders booked during the second quarter of 2025. Orders shipped from backlog were $638 million, representing a book-to-bill of 74 percent and an increase of $6 million when compared to the $632 million orders shipped and a 66 percent book-to-bill during the second quarter of 2025. As of June 30, 2026, backlog for capital equipment orders for Energy Equipment totaled $4.08 billion, a decrease of $220 million from June 30, 2025.

Energy Products and Services

Energy Products and Services generated revenues of $974 million in the second quarter of 2026, a decrease of five percent from the second quarter of 2025. Operating profit increased $2 million from the prior year to $85 million, or 8.7 percent of sales, and included $9 million in pre-tax Other Items and a $13 million gain on sales of fixed assets. Adjusted EBITDA decreased $2 million from the prior year to $144 million, or 14.8 percent of sales, and includes a benefit of approximately $26 million related to tariff refunds. Market share gains by the segment’s drill bit and artificial lift operations and continued growth in digital services were more than offset by lower

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