NOV Reports Third Quarter 2026 Earnings
Key Highlights
- ➤Q3 revenue $2.23 billion, up 4% sequentially and 2% year-over-year
- ➤Net income $90 million, or $0.25 per share, up $48 million year-over-year
- ➤Q4 revenue expected roughly flat year-over-year; Adjusted EBITDA guided to $260-$300 million
- ➤Energy Products and Services revenue rose 9% year-over-year to $1.06 billion
- ➤NOV repurchased $15 million of shares and paid $32 million in dividends
Expert Statements
Jose Bayardo, Chairman, President, and CEO of NOV
“NOV delivered another strong quarter, building on the operational momentum established earlier this year”
Jose Bayardo, Chairman, President, and CEO of NOV
“The solid sequential and year-over-year revenue growth reflects our continued focus on supporting customers in the Middle East and ramping manufacturing throughput against our growing backlog of capital equipment orders in our Energy Products and Services segment.”
Jose Bayardo, Chairman, President, and CEO of NOV
“Strong Adjusted EBITDA flowthrough, excluding tariff refund benefits, reflects disciplined execution, continued efficiency gains, and our efforts to better leverage NOV’s global platform.”
Jose Bayardo, Chairman, President, and CEO of NOV
“We expect geopolitical events will continue to create near-term disruptions and expect a moderation in Middle East activity during the fourth quarter as certain customers adjust their drilling programs.”
Jose Bayardo, Chairman, President, and CEO of NOV
“At the same time, the broader geopolitical backdrop continues to reinforce the need to strengthen energy security, diversify sources of supply, and replenish global inventories.”
Jose Bayardo, Chairman, President, and CEO of NOV
“Combined with the limited availability of modern, higher-specification equipment following a decade of restrained industry reinvestment, these needs create a constructive backdrop for demand for equipment and technologies that improve efficiency, reliability, and overall project economics.”
Jose Bayardo, Chairman, President, and CEO of NOV
“We have positioned NOV for the market environment now emerging.”
Jose Bayardo, Chairman, President, and CEO of NOV
“Our technology leadership, strong market positions, global footprint, and continued operational improvements give us confidence in our ability to capitalize on the expanding opportunity set and demonstrate materially greater earnings power over the coming years.”
* Revenues of $2.23 billion, up 4% sequentially and up 2% year-over-year * Net income of $90 million, or $0.25 per share, a decrease of $22 million sequentially and up $48 million year-over-year * Adjusted EBITDA(1,2) of $281 million, down $2 million sequentially and up $23 million year-over-year * Bookings of $577 million, representing a book-to-bill of 91% (1 Free Cash Flow, Excess Free Cash Flow, Adjusted operating profit, and Adjusted EBITDA are non-GAAP measures, see “Non-GAAP Financial Measures,” and “Reconciliation of GAAP to non-GAAP measures” below.) (2 Adjusted EBITDA for the second and third quarter of 2026 includes a benefit of approximately $40 million and $5 million, respectively, related to tariff refunds)
HOUSTON, Oct. 27, 2026 (GLOBE NEWSWIRE) -- NOV Inc. (NYSE: NOV) today reported third quarter 2026 revenues of $2.23 billion, an increase of four percent sequentially and an increase of two percent compared to the third quarter of 2025. Net income increased $48 million, or $0.14 per diluted share, year-over-year to $90 million. Operating profit was $142 million, or 6.4 percent of sales, an increase of 33 percent versus the third quarter of 2025. Adjusted operating profit was $188 million, an increase of 11 percent versus the third quarter of 2025. Adjusted EBITDA increased $23 million year-over-year to $281 million, or 12.6 percent of sales. Third quarter 2026 Adjusted operating profit and Adjusted EBITDA include a benefit of approximately $5 million related to tariff refunds.
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