It has been about a month since the last earnings report for National Oilwell Varco, Inc. NOV . Shares have added about 9.5% in that time frame.
Will the recent positive trend continue leading up to its next earnings release, or is NOV due for a pullback? Before we dive into how investors and analysts have reacted as of late, let’s take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
First-Quarter 2018 Results
National Oilwell Varco reported first-quarter 2018 adjusted loss of 18 cents per share, much wider than the Zacks Consensus Estimate of a loss of 4 cents. Lower contribution from all segments led to the poor show. Operating profit from the Rig Technologies segment totaled $18 million, way below the Zacks Consensus Estimate of $34.81 million. Further, operating profit from the Completion & Production Solutions segment was $16 million, lagging the estimate of $26.55 million. Operating profit of $12 million at Wellbore Technologies also fell shy of……. Subscribe to Read More…