NOV - National-Oilwell Varco, Inc. finalmente retorna à lucratividade

NOV – National-Oilwell Varco, Inc. Finally Returns to Profitability

Written by Paulo Nogueira

Published on 30/07/2018 at 00:07

NOVNational-Oilwell Varco, Inc. Finalmente retorna a lucratividade

Be the first to react!

National Oilwell Varco – NOV Shows Good Recovery in the Oil Market, Which Is Taking Root, Thus Becoming Evident in the Results of the Second Quarter of This Year.

The company’s oilfield equipment revenue surged to meet demand, which finally allowed it to generate profit. These results are expected to continue improving from here, as the recovery is still in its early stages. National Oilwell Varco’s revenue rose 20% compared to the same quarter last year, to US $ 2.11 billion, which also increased 17% compared to the first quarter. Additionally, the company reported US $ 24 million, or US $ 0.06 per share, in net income, reversing a consistent string of losses.

The drilling technologies segment stood out when revenue grew 35% sequentially and 19% year over year, exceeding expectations, driven by advancements in the construction of new offshore drilling rigs, the delivery of two land rigs, and aftermarket sales. The company also booked US $ 2.03 billion in new orders during the quarter, including US $ 1.8 billion associated with a recently signed joint venture with Saudi Aramco, raising the backlog to US $ 3.51 billion.

ARTICLE CONTINUES BELOW

See also

Revenue from the well technologies segment also soared in the quarter, up 12% above average and 29% year over year, driven by the continued recovery of drilling activities in the U.S. and a seasonal recovery in the Eastern Hemisphere. Meanwhile, sales in the completion and production solutions segment increased 10% compared to the last quarter and 13% compared to the same period last year, thanks to the growing capital equipment market in North America and rising demand for pressure pumping equipment and composite pipes. National Oilwell Varco registered US $ 398 million in new orders during the period, ending with a backlog of US $ 995 million.

Just the Beginning

The second quarter results for National Oilwell Varco were the best in some time. However, they appear to be just the beginning of a significant recovery in revenue and profitability, driven by the ongoing recovery in the oil market. The company’s shares – which are already one of the best-performing energy stocks in 2018 – could have much more upside ahead.

They just shared what they think are the ten best stocks for investors to buy right now with members within their services. That’s right – they believe these 10 stocks are even better.

Read Also:

- Thermal Power Plant in Aracaju Seeks Professional URGENTLY – July 28, 2018
- SBM Will Pay Petrobras R$ 549 Million (US $ 148 Million) – July 27, 2018
- A Estrutural in Macaé Has Openings Available in the Campos Basin – July 26, 2018
- CSN Hires Women for Operations or Maintenance – July 26, 2018

NOV – National-Oilwell Varco, Inc. Finally Returns to Profitability

National Oilwell Varco – NOV Shows Good Recovery in the Oil Market, Which Is Taking Root, Thus Becoming Evident in the Results of the Second Quarter of This Year.

Just the Beginning

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

Based on an analysis of over 40,000 people for 15 years, regular consumption of eggs, rich in omega-3, choline, and antioxidants, can reduce the risk of Alzheimer’s by up to 27% and also improve memory, cognition, and brain health throughout aging.

The Chamber approves a critical minerals policy with a R$2 billion fund and R$5 billion in tax incentives to try to transform lithium, rare earths, graphite, and nickel into a new economic frontier for Brazil.

Humanoid robot AEON enters a factory in Austria to operate machines, conduct inspections, and support real production, marking a new phase in the European race for autonomous factories with physical AI.

Technology that was exclusive to mega-projects now reaches Brazilian residential projects and simulates the entire build before a wall is erected, promising fewer errors and less waste.

NOV – National-Oilwell Varco, Inc. Finally Returns to Profitability

National Oilwell Varco – NOV Shows Good Recovery in the Oil Market, Which Is Taking Root, Thus Becoming Evident in the Results of the Second Quarter of This Year.

Just the Beginning

Mayor orders wireless network turned off in municipal schools due to fear of electromagnetic radiation in children, replaces connection with Ethernet cables, and transforms small Italian city into a symbol of technological panic.

A village with 115 inhabitants wants new residents: it offers a house, a job, up to 44 thousand euros in benefits, almost free rent, an annual grant of 8 thousand euros for 3 years, and a 20 thousand euro incentive for businesses in the mountains of Italy.

Goodbye traditional washing machine: Xiaomi surprises and launches an ultra-slim version with 27 programs, 3D water flow, steam sterilization, app control, enlarged drum, and a silent system with double suspension

An entire country within the mountains is selling water to Africa’s largest economy: Lesotho builds dams, tunnels, and bridges at an altitude of 2,000 meters to send more than 1.27 billion m³ per year to Johannesburg

NASA is offering US$ 750,000 to people from anywhere in the world who solve a problem that could decide survival on Mars: creating food for astronauts without relying on resupply from Earth.

With an 88-meter wingspan, a capacity of 250 tons, six engines, and 32 wheels, the Ukrainian giant became the greatest symbol of extreme air transport and one of the most impressive machines in aviation history.

Saltwater is encroaching on coastal aquifers worldwide: a study with 480,000 monitoring points reveals where underground freshwater reserves are becoming vulnerable to seawater intrusion.

Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.

Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.

Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.

Hungarian mothers began confronting electric car battery factories over fears of contaminated water and industrial waste, saying the green industry was poisoning the neighborhood.

While Brazil has been discussing bullet trains for 16 years, China delivers 5 new high-speed lines in 2026, surpasses 50,000 km of HSR, and moves 1 billion passengers in a single year.

Based on an analysis of over 40,000 people for 15 years, regular consumption of eggs, rich in omega-3, choline, and antioxidants, can reduce the risk of Alzheimer’s by up to 27% and also improve memory, cognition, and brain health throughout aging.

The Chamber approves a critical minerals policy with a R$2 billion fund and R$5 billion in tax incentives to try to transform lithium, rare earths, graphite, and nickel into a new economic frontier for Brazil.

Humanoid robot AEON enters a factory in Austria to operate machines, conduct inspections, and support real production, marking a new phase in the European race for autonomous factories with physical AI.

Technology that was exclusive to mega-projects now reaches Brazilian residential projects and simulates the entire build before a wall is erected, promising fewer errors and less waste.