NOV Q1 2025

Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

NOV Inc. Delivered a mixed first quarter for 2025, posting earnings of $0.19 per diluted share on revenue of $2.10 billion, falling short of analyst expectations of $0.26 per share and $2.12 billion, as softer industry activity and $13 million in cha… Read more NOV Inc. Delivered a mixed first quarter for 2025, posting earnings of $0.19 per diluted share on revenue of $2.10 billion, falling short of analyst expectations of $0.26 per share and $2.12 billion, as softer industry activity and $13 million in charges tied to severance costs and Russian subsidiary deconsolidations weighed on net income, which dropped 39% year-over-year to $73 million. The headline weakness masked a meaningful operational story: Adjusted EBITDA rose 5% to $252 million at a 12.0% margin, extending NOV's streak of year-over-year margin improvement to 14 consecutive quarters. The divergence between segments was striking, Energy Equipment's Adjusted EBITDA surged 39% to $165 million on stronger backlog pricing and execution, while Energy Products and Services slipped 17% amid shorter-cycle headwinds. Operating cash flow swung sharply to $135 million from negative $78 million a year earlier. Looking ahead, management guided Q2 revenue down 1–4% year-over-year with Adjusted EBITDA of $250–$280 million, while cautioning that trade tensions and incremental OPEC+ supply would weigh on second-half activity.