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Nov Inc. (NOV) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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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.
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) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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.