NOV Q4 revenue $2.34B, net income $598M, EPS $1.51; re-segmentation effective Jan 1, 2024

NOV Inc.

2023-FY EPS reported $2.50 revenue$8,583,000,000

Q4 revenue $2.34B (+7% seq, +13% YoY); adjusted EBITDA $294M (+$27M seq, +$63M YoY).
Net income $598M ($1.51 diluted EPS) vs $114M ($0.29) in Q3 2023.
Cash flow from operations $377M; free cash flow $301M in Q4.
Re-segmentation into Energy Equipment and Energy Products and Services effective Jan 1, 2024; pro forma historical data provided.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NOV Inc. reported fourth quarter and full year 2023 results: revenue $2.34 billion, net income $598 million, EPS $1.51.

Period: fourth quarter and full year 2023
Revenue: $2.34 billion
Net income: $598 million
EPS: $1.51
Result: reported results

Exact text from the filing

NOV Reports Fourth quarter and Full Year 2023 eARNINGS • Fourth quarter revenue of $2.34 billion, up 7% sequentially and up 13% year-over-year • Operating Profit of $161 million, down $22 million sequentially and down $1 million year-over-year • Net Income of $598 million, up $484 million sequentially and up $494 million year-over-year • Fully diluted earnings per share of $1.51, up $1.22 sequentially and up $1.25 year-over-year

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Source: SEC EDGAR

accession 0000950170-24-009934

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