NOV Q3 2021 net loss $69M on revenue $1.34B; adjusted EBITDA $56M

NOV Inc.

2021-Q3 EPS reported -$0.54 revenue$4,007,000,000

Revenue $1.34B (-5% QoQ, -3% YoY); net loss $69M incl. $12M COVID charges and $24M other items.
Adjusted EBITDA $56M (4.2% of sales); Wellbore Technologies adj EBITDA $77M, C&P Solutions -$5M, Rig Technologies $25M.
C&P Solutions backlog $1.11B (book-to-bill 144%); Rig Technologies backlog $2.78B (book-to-bill 190%).
Total debt $1.70B, cash $1.67B, $2.00B revolver available.
CEO cites rising oil/gas prices driving demand; offshore wind orders >50% of Rig Tech segment orders.

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