Nov Inc. (NOV - Free Report) reported $2.19 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 15.7%. EPS of $0.29 for the same period compares to $0.08 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.13 billion, representing a surprise of +2.56%. The company delivered an EPS surprise of -17.14%, with the consensus EPS estimate being $0.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nov Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Rig Technologies - New Orders Booked: $178 million compared to the $263.34 million average estimate based on four analysts.
- Completion & Production Solutions - New Orders Booked: $530 million versus the four-analyst average estimate of $483.73 million.
- Rig Technologies - Backlog: $2.97 billion versus the four-analyst average estimate of $2.94 billion.
- Completion & Production Solutions - Orders Shipped: $466 million versus the four-analyst average estimate of $487.85 million.
- Rig Technologies - Orders Shipped: $248 million versus $211.41 million estimated by four analysts on average.
- Completion & Production Solutions - Backlog: $1.63 billion versus the four-analyst average estimate of $1.58 billion.
- Completion & Production Solutions - Book-to-Bill: 114% versus the three-analyst average estimate of 95.2%.
- Rig Technologies - Book-to-Bill: 72% versus the three-analyst average estimate of 135.5%.
- Revenue- Eliminations: -$60 million versus the eight-analyst average estimate of -$62.26 million. The reported number represents a year-over-year change of +36.4%.
- Revenue- Completion & Production Solutions: $760 million versus $752.91 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +11.6% change.
- Revenue- Wellbore Technologies: $799 million versus the eight-analyst average estimate of $803.59 million. The reported number represents a year-over-year change of +7.8%.
- Revenue- Rig Technologies: $686 million compared to the $636.53 million average estimate based on eight analysts. The reported number represents a change of +34.3% year over year.
View all Key Company Metrics for Nov Inc. here>>>Shares of Nov Inc. have returned -9.7% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Nov Inc. (NOV - Free Report) reported $2.19 billion in revenue for the quarter ended September 2023, representing a year-over-year increase of 15.7%. EPS of $0.29 for the same period compares to $0.08 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.13 billion, representing a surprise of +2.56%. The company delivered an EPS surprise of -17.14%, with the consensus EPS estimate being $0.35.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nov Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Rig Technologies - New Orders Booked: $178 million compared to the $263.34 million average estimate based on four analysts.
- Completion & Production Solutions - New Orders Booked: $530 million versus the four-analyst average estimate of $483.73 million.
- Rig Technologies - Backlog: $2.97 billion versus the four-analyst average estimate of $2.94 billion.
- Completion & Production Solutions - Orders Shipped: $466 million versus the four-analyst average estimate of $487.85 million.
- Rig Technologies - Orders Shipped: $248 million versus $211.41 million estimated by four analysts on average.
- Completion & Production Solutions - Backlog: $1.63 billion versus the four-analyst average estimate of $1.58 billion.
- Completion & Production Solutions - Book-to-Bill: 114% versus the three-analyst average estimate of 95.2%.
- Rig Technologies - Book-to-Bill: 72% versus the three-analyst average estimate of 135.5%.
- Revenue- Eliminations: -$60 million versus the eight-analyst average estimate of -$62.26 million. The reported number represents a year-over-year change of +36.4%.
- Revenue- Completion & Production Solutions: $760 million versus $752.91 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +11.6% change.
- Revenue- Wellbore Technologies: $799 million versus the eight-analyst average estimate of $803.59 million. The reported number represents a year-over-year change of +7.8%.
- Revenue- Rig Technologies: $686 million compared to the $636.53 million average estimate based on eight analysts. The reported number represents a change of +34.3% year over year.
View all Key Company Metrics for Nov Inc. here>>>Shares of Nov Inc. have returned -9.7% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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