Earnings Releases·Oct 28, 2026, 9:00 AM ET

NOV Inc. — Third Quarter 2026 Earnings Summary

Consolidated revenue rose 2% year-over-year to $2.23 billion, while adjusted EBITDA increased 11% to $281 million; net income grew $48 million year-over-year to $90 million but declined $22 million sequentially.
Management provided Q4 2026 guidance projecting revenues roughly flat year-over-year and adjusted EBITDA between $260 million and $300 million, contingent on stable Middle East conditions.
The Energy Products and Services segment drove growth with 9% revenue growth and 50% operating profit increase, whereas the Energy Equipment segment saw a 2% revenue decline due to completed offshore projects.
Capital returned to shareholders totaled $47 million via $15 million in share repurchases and $32 million in dividends, while free cash flow remained negative at $47 million due to $88 million in capital expenditures.
The company secured significant new orders including 160 km of composite spoolable linepipe in Oman and data aggregation services for a supermajor, though geopolitical risks and potential tariff refund reversals remain key headwinds.