Financial Performance
- Revenue: $2.23 billion, a 4 % increase from the previous quarter and a 2 % increase year‑over‑year.
- Net income attributable to NOV: $90 million, or $0.25 per diluted share.
- This represents a $48 million increase compared with the same period a year ago but a $22 million decline sequentially.
- Operating profit: $142 million, up 33 % year‑over‑year.
- Adjusted EBITDA: $281 million, up $23 million year‑over‑year but down $2 million sequentially.
Operational Highlights
- Energy Products and Services revenue rose 9 % year‑over‑year, while Energy Equipment revenue declined 2 %.
- Offshore operations were highlighted as a key growth area, with the company outlining specific targets for the remainder of 2026.
Market Reaction
- Following the announcement, NOV shares fell 5 % on the New York Stock Exchange, closing at $20.55 on 26 October 2026.
- The 52‑week high of $21.93 (achieved on 8 September 2026) and the 52‑week low of $14.30 (on 20 November 2025) frame the recent volatility.
Context
- NOV Inc. is a U.S.‑based company specializing in equipment, components, and services for oil and gas drilling and production.
- Its primary operations are located in Houston, and it serves a global customer base.
- The company’s market capitalization is approximately $7.23 billion, and its price‑earnings ratio stands at 78.04.
Summary
NOV Inc. reported a modest revenue increase for Q3 2026, with strong performance in Energy Products and Services offset by a slight decline in Energy Equipment revenue. Net income and operating profit grew year‑over‑year, although sequential declines were noted. Despite the earnings beat, the market reacted negatively, with the stock falling 5 % shortly after the announcement. Offshore growth targets were emphasized as a strategic focus for the company’s future development.
