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Nov Inc. (NOV) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended December 2023, Nov Inc. (NOV - Free Report) reported revenue of $2.34 billion, up 13% over the same period last year. EPS came in at $0.54, compared to $0.26 in the year-ago quarter.
The reported revenue represents a surprise of +3.51% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $0.41, the EPS surprise was +31.71%.
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: $214 million compared to the $239.94 million average estimate based on four analysts.
Completion & Production Solutions - New Orders Booked: $676 million compared to the $531.04 million average estimate based on four analysts.
Rig Technologies - Backlog: $2.87 billion compared to the $2.97 billion average estimate based on four analysts.
Completion & Production Solutions - Orders Shipped: $513 million versus $496.76 million estimated by four analysts on average.
Rig Technologies - Orders Shipped: $314 million compared to the $234.99 million average estimate based on four analysts.
Completion & Production Solutions - Backlog: $1.82 billion compared to the $1.66 billion average estimate based on four analysts.
Completion & Production Solutions - Book-to-Bill: 132% versus 101.3% estimated by three analysts on average.
Rig Technologies - Book-to-Bill: 68% compared to the 99.5% average estimate based on three analysts.
Revenue- Rig Technologies: $766 million compared to the $700.46 million average estimate based on eight analysts. The reported number represents a change of +23.6% year over year.
Revenue- Completion & Production Solutions: $803 million versus $785.41 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +8.8% change.
Revenue- Wellbore Technologies: $824 million versus $839.39 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
Revenue- Eliminations: -$50 million versus -$62.34 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +6.4% change.
Shares of Nov Inc. have returned -4% over the past month versus the Zacks S&P 500 composite's +1.6% 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) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended December 2023, Nov Inc. (NOV - Free Report) reported revenue of $2.34 billion, up 13% over the same period last year. EPS came in at $0.54, compared to $0.26 in the year-ago quarter.
The reported revenue represents a surprise of +3.51% over the Zacks Consensus Estimate of $2.26 billion. With the consensus EPS estimate being $0.41, the EPS surprise was +31.71%.
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: $214 million compared to the $239.94 million average estimate based on four analysts.
- Completion & Production Solutions - New Orders Booked: $676 million compared to the $531.04 million average estimate based on four analysts.
- Rig Technologies - Backlog: $2.87 billion compared to the $2.97 billion average estimate based on four analysts.
- Completion & Production Solutions - Orders Shipped: $513 million versus $496.76 million estimated by four analysts on average.
- Rig Technologies - Orders Shipped: $314 million compared to the $234.99 million average estimate based on four analysts.
- Completion & Production Solutions - Backlog: $1.82 billion compared to the $1.66 billion average estimate based on four analysts.
- Completion & Production Solutions - Book-to-Bill: 132% versus 101.3% estimated by three analysts on average.
- Rig Technologies - Book-to-Bill: 68% compared to the 99.5% average estimate based on three analysts.
- Revenue- Rig Technologies: $766 million compared to the $700.46 million average estimate based on eight analysts. The reported number represents a change of +23.6% year over year.
- Revenue- Completion & Production Solutions: $803 million versus $785.41 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +8.8% change.
- Revenue- Wellbore Technologies: $824 million versus $839.39 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.
- Revenue- Eliminations: -$50 million versus -$62.34 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +6.4% change.
View all Key Company Metrics for Nov Inc. here>>>Shares of Nov Inc. have returned -4% over the past month versus the Zacks S&P 500 composite's +1.6% 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.