NOV - NOV Inc. (NOV) Q1 2024 Earnings Call Transcript
2024-04-26 15:50:07 ET
NOV Inc. (NOV)
Q1 2024 Earnings Conference Call
April 26, 2024 11:00 AM ET
Company Participants
Amie D'Ambrosio - Director, IR
Clay Williams - Chairman, President and CEO
Jose Bayardo - SVP and CFO
Conference Call Participants
Jim Rollyson - Raymond James
Stephen Gengaro - Stifel
James West - Evercore ISI
Tom Curran - Seaport Research Partners
Scott Gruber - Citigroup
Kurt Hallead - Benchmark
Presentation
Operator
Good day, ladies and gentlemen, and welcome to the NOV First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference call is recorded.
I would now like to introduce your host for today's conference, Ms. Amie D'Ambrosio, Director of Investor Relations. Ma'am, please go ahead.
Amie D'Ambrosio
Welcome, everyone, to NOV's first quarter 2024 earnings conference call. With me today are Clay Williams, our Chairman, President and CEO; and Jose Bayardo, our Senior Vice President and CFO.
Before we begin, I would like to remind you that some of today's comments are forward-looking statements within the meaning of the federal securities laws. They involve risks and uncertainty, and actual results may differ materially. No one should assume these forward-looking statements remain valid later in the quarter or later in the year.
For a more detailed discussion of the major risk factors affecting our business, please refer to our latest forms 10-K and 10-Q filed with the Securities and Exchange Commission. Our comments also include non-GAAP measures.
Reconciliations to the nearest corresponding GAAP measures are in our earnings release available on our website. On a U.S. GAAP basis, for the first quarter of 2024, NOV reported revenues of $2.16 billion and a net income of $119 million or $0.30 per fully diluted share.
Our use of the term EBITDA throughout this morning's call corresponds with the term adjusted EBITDA as defined in our earnings release. Later in the call, we will host a question-and-answer session. Please limit yourself to one question and one follow-up to permit more participation....
NOV Inc. (NOV) Q1 2024 Earnings Call Transcript