NOV Third Quarter 2024 Earnings: Misses Expectations

NOV (NYSE:NOV) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$2.19b (flat on 3Q 2023).
• Net income: US$130.0m (up 14% from 3Q 2023).
• Profit margin: 5.9% (up from 5.2% in 3Q 2023).
• EPS: US$0.33 (up from US$0.29 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

NOV Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Energy Services industry in the US.

Performance of the American Energy Services industry.

The company's shares are up 1.7% from a week ago.

Valuation

NOV's financial results now indicate the company's shares could present an opportunity based on 6 important indicators. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.

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