National Oilwell Varco (NOV) Reports Q4 Loss of $1.01/Share

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National Oilwell Varco Reports Fourth Quarter and Full Year 2019 Results

February 6, 2020 6:15 PM EST

HOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today reported fourth quarter 2019 revenues of $2.28 billion, an increase of seven percent compared to the third quarter of 2019 and a decrease of five percent compared to the fourth quarter of 2018. Net loss for the fourth quarter was $385 million, which included non-cash, pre-tax charges (other items, see Other Corporate Items for additional detail) of $537 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) increased $26 million sequentially to $288 million, or 12.6 percent of sales.

Revenues for the full year 2019 were $8.48 billion, operating loss was $6.28 billion,... More