National Oilwell Varco (NOV) Misses Q4 EPS by 5c

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Go back to National Oilwell Varco (NOV) Misses Q4 EPS by 5c

National Oilwell Varco Reports Fourth Quarter and Full Year 2018 Results

February 6, 2019 5:00 PM EST

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today reported fourth quarter 2018 revenues of $2.40 billion, an increase of 11 percent compared to the third quarter of 2018 and an increase of 22 percent from the fourth quarter of 2017. Operating profit for the fourth quarter of 2018 was $87 million, or 3.6 percent of sales, Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) was $279 million, or 11.6 percent of sales, and net income was $12 million. Operating profit increased 19 percent sequentially, and Adjusted EBITDA increased 14 percent sequentially and 42 percent compared to the fourth quarter of 2017. Other items totaled $21 million,... More