Provided by Business Wire
NOV Reports Second Quarter 2021 Results
NOV Inc. (NYSE: NOV) today reported second quarter 2021 revenues of $1.42 billion, an increase of 13 percent compared to the first quarter of 2021 and a decrease of five percent compared to the second quarter of 2020. Net loss for the second quarter of 2021 was $26 million, or 1.8 percent of sales, which included pre-tax net charges (“Other Items”, see Other Corporate Items for additional detail) of $15 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) increased sequentially to $104 million, or 7.3 percent of sales.
“Rising demand in oilfield and offshore wind markets led to stronger orders for NOV during the second quarter,” stated Clay Williams, Chairman, President and CEO. “Both Rig Technologies and Completion & Production Solutions segments posted book-to-bill ratios north of 100%. Wellbore Technologies continued to execute well on mod
National Oilwell Varco, inc (NOV) Q2 2021 Earnings Call Transcript
fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
NOV Inc - Consensus Indicates Potential 2 0% Upside - DirectorsTalk Interviews
directorstalkinterviews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from directorstalkinterviews.com Daily Mail and Mail on Sunday newspapers.
Advertisement
APL, part of NOV’s Completion & Production Solutions segment, has received a contract award from BW Offshore for the supply of a large submerged turret production (STP) system in the Barossa gas and condensate field located offshore of Australia.
Located approximately 186 m (300 km) northwest of Darwin in the Timor Sea, the Barossa field features water depths ranging between 720 and 920 ft (220 and 280 m). The Barossa development consists of infield subsea infrastructure tied back to the centrally located floating production storage and offloading (FPSO) vessel. The FPSO processes high-pressure reservoir fluids for gas export to the Darwin LNG facility via a 180-m (290-km) long subsea pipeline for condensate storage and offloading.