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National Oilwell Varco expects Q1 revenue miss [Seeking Alpha]

NATIONAL OILWELL VARCO (NOV)  More Company Research Source: Seeking Alpha
Last national oilwell varco earnings: 4/26 07:50 pm Check Earnings Report
US:NYSE Investor Relations: nov.com
PDF National Oilwell Varco expects Q1 revenue missNational Oilwell Varco (NYSE:NOV)warns of lower than expected Q1 revenue, totaling $1.8B vs. $1.94B analyst consensus estimate.NOV cites weaker shipments of subsea production equipments and reduced progress on new offshore rig construction and customer-delayed deliveries of drilling, well servicing and stimulation equipment.The company expects all three segments will report sequentially lower revenues, with a consolidated GAAP operating loss of ~$1M and adjusted EBITDA of $160M.NOV notes improving industry fundamentals and expects "demand for NOV’s critical products and services to resume growth as the year progresses."Click to subscribe to real-time analytics on NOVNow read:National Oilwell: Playing A Bottom In Oil » [Read more]

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