2024-07-26 15:27:09 ET
NOV Inc. (NOV)
Q2 2024 Earnings Conference Call
July 26, 2024, 11:00 AM ET
Company Participants
Amie D'Ambrosio - Director, Investor Relations
Clay Williams - Chairman, President and CEO
Jose Bayardo - Senior Vice President and CFO
Conference Call Participants
Jim Rollyson - Raymond James
James West - Evercore
Arun Jayaram - JPMorgan
Marc Bianchi - TD Cowen
Luke Lemoine - Piper Sandler
Stephen Gengaro - Stifel
Presentation
Operator
Good day and thank you for standing by. Welcome to Q2 NOV, Inc. Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, there will be a question-and-answer session. [Operator Instructions]
Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Amie D'Ambrosio, Director of Investor Relations. Please go ahead.
Amie D'Ambrosio
Welcome, everyone, to NOV’s second 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 second quarter of 2024, NOV reported revenues of $2.22 billion and a net income of $226 million or $0.57 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....
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NOV Inc. (NOV) Q2 2024 Earnings Call Transcript