NOV Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 01, 2024 at 05:30 pm
Share
NOV Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 2,343 million compared to USD 2,073 million a year ago. Revenue was USD 2,343 million compared to USD 2,073 million a year ago. Net income was USD 598 million compared to USD 104 million a year ago. Basic earnings per share from continuing operations was USD 1.52 compared to USD 0.27 a year ago. Diluted earnings per share from continuing operations was USD 1.51 compared to USD 0.26 a year ago.
For the full year, sales was USD 8,583 million compared to USD 7,237 million a year ago. Revenue was USD 8,583 million compared to USD 7,237 million a year ago. Net income was USD 993 million compared to USD 155 million a year ago. Basic earnings per share from continuing operations was USD 2.53 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 2.5 compared to USD 0.39 a year ago.
NOV Inc. is an independent equipment and technology provider to the global energy industry. The Companyâs segments include Energy Equipment, and Energy Products and Services. Its Energy Products and Services segment provides a variety of technologies used primarily to perform drilling and well completion operations and offers services that optimize their performance. Its Energy Products and Services segment designs, manufactures, rents, and sells equipment and products for drilling, intervention, completion, and production activities, including drill bits, downhole tools, premium drill pipe, drilling fluids, managed pressure drilling, integral and weld-on connectors for conductor strings and surface casing, completion tools, and artificial lift systems. Its Energy Equipment segment manufactures and supports the capital equipment and integrated systems needed for oil and gas exploration and production, both onshore and offshore, as well as for other marine-based and industrial markets.