NOV Inc Q2 revenue beats estimates, helped by offshore project strength
NOV•What drove results
- Offshore project execution - Co said strong execution on offshore production projects nearing completion and a more favorable sales mix boosted Energy Equipment revenue and profitability
- Tariff refunds - Adjusted operating profit and Adjusted EBITDA included a benefit of about $40 mln from tariff refunds
- Lower capital equipment sales - Energy Products and Services revenue fell as market share gains and digital services growth were more than offset by lower capital equipment sales
Outlook for Q3 2026
- NOV expects Q3 2026 consolidated revenue to be flat to up 2% year-over-year
- Company sees Q3 2026 Adjusted EBITDA between $240 mln and $270 mln
- NOV says outlook assumes stable Middle East conditions; worsening could impact results
Key figures and analyst view
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $2.13 bln | $2.09 bln (14 Analysts) |
| Q2 EPS | $0.31 | ||
| Q2 Net Income attributable to Company | $112 mln | ||
| Q2 Gross Profit | $521 mln | ||
| Q2 Operating Profit | $193 mln |
