National Oilwell Varco (NOV) Reports Q1 Loss Per Share of $5.34
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National Oilwell Varco Reports First Quarter 2020 Results
April 27, 2020 6:45 PM EDTHOUSTON--(BUSINESS WIRE)-- National Oilwell Varco, Inc. (NYSE: NOV) today reported first quarter 2020 revenues of $1.88 billion, compared to $2.28 billion for the fourth quarter of 2019 and $1.94 billion for the first quarter of 2019. Net loss for the first quarter of 2020 was $2.05 billion, which included non-cash, pre-tax charges (other items, see Other Corporate Items for additional detail) of $2.25 billion. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) decreased $110 million sequentially to $178 million.
NOV is persevering through a pandemic that is presenting historic and extraordinary challenges to the oil and gas industry on several fronts, commented Clay... More
