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Compared to Estimates, Nov Inc. (NOV) Q2 Earnings: A Look at Key Metrics
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Nov Inc. (NOV - Free Report) reported $2.09 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 21.2%. EPS of $0.39 for the same period compares to $0.18 a year ago.
The reported revenue represents a surprise of +1.14% over the Zacks Consensus Estimate of $2.07 billion. With the consensus EPS estimate being $0.30, the EPS surprise was +30.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nov Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Completion & Production Solutions - Backlog: $1.59 billion versus $1.63 billion estimated by four analysts on average.
Rig Technologies - Backlog: $2.89 billion versus the four-analyst average estimate of $2.94 billion.
Completion & Production Solutions - New Orders Booked: $450 million versus $498.52 million estimated by four analysts on average.
Rig Technologies - New Orders Booked: $222 million compared to the $264.63 million average estimate based on four analysts.
Rig Technologies - Orders Shipped: $205 million versus $199.91 million estimated by four analysts on average.
Completion & Production Solutions - Orders Shipped: $477 million versus the four-analyst average estimate of $473.39 million.
Completion & Production Solutions - Book-to-Bill: 94% compared to the 98.79% average estimate based on three analysts.
Rig Technologies - Book-to-Bill: 108% versus 140.25% estimated by three analysts on average.
Revenue- Wellbore Technologies: $804 million compared to the $783.08 million average estimate based on eight analysts. The reported number represents a change of +20.7% year over year.
Revenue- Completion & Production Solutions: $753 million compared to the $750.11 million average estimate based on eight analysts. The reported number represents a change of +17.8% year over year.
Revenue- Rig Technologies: $606 million versus $588.24 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +31.2% change.
Revenue- Eliminations: -$70 million compared to the -$53.99 million average estimate based on seven analysts.
Shares of Nov Inc. have returned +19.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Nov Inc. (NOV) Q2 Earnings: A Look at Key Metrics
Nov Inc. (NOV - Free Report) reported $2.09 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 21.2%. EPS of $0.39 for the same period compares to $0.18 a year ago.
The reported revenue represents a surprise of +1.14% over the Zacks Consensus Estimate of $2.07 billion. With the consensus EPS estimate being $0.30, the EPS surprise was +30.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nov Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Completion & Production Solutions - Backlog: $1.59 billion versus $1.63 billion estimated by four analysts on average.
- Rig Technologies - Backlog: $2.89 billion versus the four-analyst average estimate of $2.94 billion.
- Completion & Production Solutions - New Orders Booked: $450 million versus $498.52 million estimated by four analysts on average.
- Rig Technologies - New Orders Booked: $222 million compared to the $264.63 million average estimate based on four analysts.
- Rig Technologies - Orders Shipped: $205 million versus $199.91 million estimated by four analysts on average.
- Completion & Production Solutions - Orders Shipped: $477 million versus the four-analyst average estimate of $473.39 million.
- Completion & Production Solutions - Book-to-Bill: 94% compared to the 98.79% average estimate based on three analysts.
- Rig Technologies - Book-to-Bill: 108% versus 140.25% estimated by three analysts on average.
- Revenue- Wellbore Technologies: $804 million compared to the $783.08 million average estimate based on eight analysts. The reported number represents a change of +20.7% year over year.
- Revenue- Completion & Production Solutions: $753 million compared to the $750.11 million average estimate based on eight analysts. The reported number represents a change of +17.8% year over year.
- Revenue- Rig Technologies: $606 million versus $588.24 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +31.2% change.
- Revenue- Eliminations: -$70 million compared to the -$53.99 million average estimate based on seven analysts.
View all Key Company Metrics for Nov Inc. here>>>Shares of Nov Inc. have returned +19.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.