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National Oilwell Varco Earnings Calls
| Release date | Oct 27, 2025 |
| EPS estimate | $0.240 |
| EPS actual | $0.110 |
| EPS Surprise | -54.17% |
| Revenue estimate | 2.165B |
| Revenue actual | 2.176B |
| Revenue Surprise | 0.507% |
| Release date | Jul 28, 2025 |
| EPS estimate | $0.300 |
| EPS actual | $0.290 |
| EPS Surprise | -3.33% |
| Revenue estimate | 2.112B |
| Revenue actual | 2.188B |
| Revenue Surprise | 3.59% |
| Release date | Apr 28, 2025 |
| EPS estimate | $0.250 |
| EPS actual | $0.190 |
| EPS Surprise | -23.88% |
| Revenue estimate | 2.1B |
| Revenue actual | 2.103B |
| Revenue Surprise | 0.147% |
| Release date | Feb 04, 2025 |
| EPS estimate | $0.350 |
| EPS actual | $0.410 |
| EPS Surprise | 17.14% |
| Revenue estimate | 2.246B |
| Revenue actual | 2.308B |
| Revenue Surprise | 2.77% |
Last 4 Quarters for National Oilwell Varco
Below you can see how NOV performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
| Release date | Feb 04, 2025 |
| Price on release | $14.58 |
| EPS estimate | $0.350 |
| EPS actual | $0.410 |
| EPS surprise | 17.14% |
| Date | Price |
|---|---|
| Jan 29, 2025 | $14.40 |
| Jan 30, 2025 | $14.47 |
| Jan 31, 2025 | $14.45 |
| Feb 03, 2025 | $14.29 |
| Feb 04, 2025 | $14.58 |
| Feb 05, 2025 | $16.43 |
| Feb 06, 2025 | $15.48 |
| Feb 07, 2025 | $15.62 |
| Feb 10, 2025 | $15.93 |
| 4 days before | 1.25% |
| 4 days after | 9.26% |
| On release day | 12.69% |
| Change in period | 10.63% |
| Release date | Apr 28, 2025 |
| Price on release | $12.24 |
| EPS estimate | $0.250 |
| EPS actual | $0.190 |
| EPS surprise | -23.88% |
| Date | Price |
|---|---|
| Apr 22, 2025 | $12.16 |
| Apr 23, 2025 | $12.01 |
| Apr 24, 2025 | $12.34 |
| Apr 25, 2025 | $12.33 |
| Apr 28, 2025 | $12.24 |
| Apr 29, 2025 | $12.00 |
| Apr 30, 2025 | $11.61 |
| May 01, 2025 | $11.88 |
| May 02, 2025 | $12.26 |
| 4 days before | 0.658% |
| 4 days after | 0.163% |
| On release day | -1.96% |
| Change in period | 0.82% |
| Release date | Jul 28, 2025 |
| Price on release | $14.16 |
| EPS estimate | $0.300 |
| EPS actual | $0.290 |
| EPS surprise | -3.33% |
| Date | Price |
|---|---|
| Jul 22, 2025 | $13.02 |
| Jul 23, 2025 | $13.71 |
| Jul 24, 2025 | $13.71 |
| Jul 25, 2025 | $13.97 |
| Jul 28, 2025 | $14.16 |
| Jul 29, 2025 | $13.03 |
| Jul 30, 2025 | $12.78 |
| Jul 31, 2025 | $12.58 |
| Aug 01, 2025 | $12.13 |
| 4 days before | 8.76% |
| 4 days after | -14.34% |
| On release day | -7.98% |
| Change in period | -6.84% |
| Release date | Oct 27, 2025 |
| Price on release | $13.95 |
| EPS estimate | $0.240 |
| EPS actual | $0.110 |
| EPS surprise | -54.17% |
| Date | Price |
|---|---|
| Oct 21, 2025 | $13.07 |
| Oct 22, 2025 | $13.30 |
| Oct 23, 2025 | $14.08 |
| Oct 24, 2025 | $13.84 |
| Oct 27, 2025 | $13.95 |
| Oct 28, 2025 | $14.95 |
| Oct 29, 2025 | $15.31 |
| Oct 30, 2025 | $15.12 |
| Oct 31, 2025 | $14.60 |
| 4 days before | 6.73% |
| 4 days after | 4.66% |
| On release day | 7.17% |
| Change in period | 11.71% |
National Oilwell Varco Earnings Call Transcript Summary of Q3 2025
NOV reported Q3 2025 revenue of $2.18 billion and GAAP net income of $42 million ($0.11/sh). Adjusted EBITDA was $258 million (11.9% margin), and free cash flow was strong at $245 million (53% EBITDA-to-FCF YTD; 95% conversion in the quarter). Energy Equipment led with record backlog ($4.56 billion), strong capital equipment orders (Q3 book-to-bill 141%) and improving margins (14.4% for the segment), driven by subsea flexible pipe, process systems and offshore production equipment. Energy Products & Services revenue was down modestly (reflecting weaker global rig counts) but benefited from technology share gains (wired drill pipe, downhole tools); drill pipe bookings are the highest since early 2022. Tariff expense rose (Q3 ~ $20M; Q4 expected ~ $25M) and management is executing supply-chain realignment and structural cost reductions targeted to deliver >$100M annualized savings by end-2026. Capital returned to shareholders year-to-date was $393M (share repurchases and dividends). Near-term activity is expected to remain soft into Q4 and through early 2026, but management sees two durable secular growth drivers for the next decade — globalization of unconventional (international shale) and a reemergence of deepwater — positioning NOV for stronger demand in late 2026 and beyond.
