NOV Q1 2022 revenue $1.55B (+24% YoY); net loss $50M includes $45M Russia/Belarus/Ukraine charges

NOV Inc.

2022-Q1 EPS reported -$0.13 revenue$1,548,000,000

Net loss of $50M (3.2% of sales) includes $45M in impairment and restructuring charges from Russia, Belarus, and Ukraine.
Adjusted EBITDA rose to $103M (6.7% of sales) vs. Q4 2021, driven by better execution and pricing.
Wellbore Technologies revenue $608M (+47% YoY); adjusted EBITDA margin 16.6%.
Completion & Production Solutions backlog $1.36B (+68% YoY); book-to-bill 110%.
Rig Technologies backlog $2.89B; book-to-bill 124% with $80M inflationary price adjustments.

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