NOV - National Oilwell Varco GAAP EPS of -$0.10 misses by $0.06 revenue of $1.52B beats by $60M

National Oilwell Varco press release (NYSE:NOV): Q4 GAAP EPS of -$0.10 misses by $0.06. Revenue of $1.52B (+14.3% Y/Y) beats by $60M. CEO comment: “As the world emerges from the pandemic and greater economic activity resumes, it is becoming increasingly evident that supply of petroleum is uncomfortably tight. Global activity needs to increase to meet growing demand while energy transition efforts accelerate. Against this backdrop, we are focused on improving margins through a combination of higher product pricing, growing revenue from NOV’s proprietary technologies, and better execution against ongoing supply chain challenges. The Company’s strong financial position, global reach, large installed base of oilfield and wind installation equipment, and growing portfolio of energy transition technologies position it well as we advance further into the emerging up-cycle.”

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National Oilwell Varco GAAP EPS of -$0.10 misses by $0.06, revenue of $1.52B beats by $60M