Welcome to our dedicated page for Nov news (Ticker: NOV), a resource for investors and traders seeking the latest updates and insights on Nov stock.
NOV Inc. (NYSE: NOV) is an energy technology company that frequently reports developments through earnings releases, strategic announcements, and collaboration news. This news page aggregates updates about NOV’s operations, financial performance, technology deployments, and corporate actions, giving investors and industry observers a single place to review the company’s disclosed information.
Recent news items include quarterly earnings reports that discuss revenues, segment performance for Energy Products and Services and Energy Equipment, bookings and backlog trends, cash flow generation, and capital returns through dividends and share repurchases. These releases often highlight how global drilling activity, offshore investment, natural gas developments, and macroeconomic conditions influence NOV’s results and outlook.
NOV also issues news about its technology achievements and project awards. Examples include contracts for monoethylene glycol reclamation and recovery systems, flexible riser and flowline systems for deepwater projects, Submerged Swivel and Yoke systems for floating LNG, and automation and digital packages for land and offshore rigs. The company reports milestones in drilling performance, deployment of robotic systems such as ATOM RTX, and adoption of its Max Platform, NOVOS process automation, and other digital tools.
Strategic collaborations and portfolio actions are another key news theme. NOV has announced the sale of its advanced nuclear development company Shepherd Power to Natura Resources, becoming an investor in Natura and signing a memorandum of understanding to support the supply chain for advanced molten salt SMR technology. It has also publicized a collaboration with Armada to integrate AI-powered edge computing via the Beacon device at industrial sites.
Corporate governance and capital allocation updates, such as leadership succession plans, board appointments, and regular quarterly dividends, are disclosed through press releases and SEC-related announcements. Readers who follow NOV news can monitor how the company’s technology, project wins, partnerships, and financial decisions evolve over time.
NOV Inc. (NYSE: NOV) has announced its intention to redeem all outstanding 2.60% senior notes worth $182.7 million, due December 2022. The redemption will take place on April 9, 2021, at par plus a make-whole premium and accrued interest. The company plans to fund this redemption using available cash. Registered holders of the notes will receive a notice of redemption from Wells Fargo Bank, the trustee for the notes. The announcement serves as an informational release and not a purchase or solicitation offer.
NOV Inc. (NYSE: NOV) is set to hold a conference call on April 28, 2021, at 10 a.m. CT to discuss its first quarter 2021 results. The press release detailing these results will be issued after market close on April 27, 2021. NOV specializes in technology-driven solutions for the global energy sector and has been a key player in advancing energy production sustainably for over 150 years.
NOV reported fourth quarter 2020 revenues of $1.33 billion, down 4% sequentially and 42% year-over-year. The company incurred a net loss of $347 million, or -26.1% of sales, influenced by non-cash charges of $236 million. Full-year revenues stood at $6.09 billion with a net loss of $2.54 billion, or $6.62 per share. Despite challenges, NOV generated $700 million in free cash flow and significantly reduced costs. Looking ahead, the company anticipates improvements in the second half of 2021, driven by rising commodity prices and increased drilling activity.
NOV Inc. (NYSE: NOV) anticipates fourth quarter 2020 revenue and earnings below prior expectations, forecasting revenues of $1.33 billion and a GAAP operating loss of $327 million. The CEO noted that increased North American activity boosted U.S. revenues while international demand weakened. Orders rose 27% in the Completion & Production segment and 105% in Rig Technologies, despite COVID-19-related order deferrals. While Q1 2021 might remain weak, the company is optimistic about improving profitability due to rising commodity prices and ongoing strategic actions.
National Oilwell Varco (NYSE: NOV) announced its corporate name change to 'NOV Inc.' effective January 1, 2021, while retaining its ticker symbol 'NOV'. This rebranding reflects the company's commitment to evolving within the energy sector, emphasizing innovation and technology to support lower-carbon energy solutions. Chairman Clay Williams highlighted their focus on enhancing drilling and production operations and continuing to drive economic efficiency and safety in energy transition efforts.
NexTier Oilfield Solutions and National Oilwell Varco have announced a collaborative agreement to field test NOV's electric fracturing system, the Ideal eFrac fleet. This partnership aims to enhance hydraulic fracturing efficiency while reducing emissions and operational complexity. Under the agreement, NexTier may eventually purchase the first Ideal eFrac fleet after the testing phase. Both companies emphasize their commitment to reducing the environmental footprint of oil and gas operations through advanced technologies.
National Oilwell Varco (NYSE: NOV) announced a conference call scheduled for February 5, 2021, to discuss its fourth quarter and full year 2020 results. A press release detailing these results will be issued after the market closes on February 4, 2021. The call can be accessed via webcast on NOV's investor relations page. With a legacy dating back to 1862, NOV continues to lead in providing technology and services that enhance the efficiency and safety of the oil and gas industry.
National Oilwell Varco (NYSE: NOV) reported Q3 2020 revenues of $1.38 billion, down 7% from Q2 and 35% from Q3 2019. The net loss improved to $55 million, with adjusted EBITDA down to $71 million. Cash flow from operations reached $323 million, reducing net debt to $339 million. Despite challenging market conditions, the company noted increased tendering activity and a belief that drilling activity may rise in North America. Key segments saw declines: Wellbore Technologies down 54% YoY, while Completion & Production Solutions and Rig Technologies also faced significant drops.