In This Article:
NOV (NYSE:NOV) Full Year 2024 Results
Key Financial Results
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Revenue: US$8.87b (up 3.3% from FY 2023).
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Net income: US$635.0m (down 36% from FY 2023).
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Profit margin: 7.2% (down from 12% in FY 2023). The decrease in margin was driven by higher expenses.
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EPS: US$1.62 (down from US$2.53 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
NOV EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.2%.
The primary driver behind last 12 months revenue was the Energy Equipment segment contributing a total revenue of US$4.89b (55% of total revenue). Notably, cost of sales worth US$6.75b amounted to 76% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$1.13b (76% of total expenses). Explore how NOV's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Energy Services industry in the US.
Performance of the American Energy Services industry.
The company's share price is broadly unchanged from a week ago.
Valuation
If you are seeking undervalued stocks, our analysis of 6 valuation measures indicates NOV could be a good place to look. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.