National Oilwell Varco (NOV) Tops Q1 EPS by 4c

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Go back to National Oilwell Varco (NOV) Tops Q1 EPS by 4c

National Oilwell Varco Announces First Quarter 2015 Earnings

April 28, 2015 7:01 AM EDT

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today reported that for its first quarter ended March 31, 2015, it earned net income of $310 million, or $0.76 per fully diluted share, compared to fourth quarter ended December 31, 2014 net income of $595 million, or $1.39 per fully diluted share. Excluding other items of $122 million in pre-tax charges related to an early retirement program, $9 million of Venezuela asset write-down, and $69 million of non-recurring foreign tax exposure, net income was $466 million, or $1.14 per fully diluted share, down 33 percent from the fourth quarter of 2014, and down 12 percent from the first quarter... More