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Nov Inc. (NOV) Reports Q2 Earnings: What Key Metrics Have to Say
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Nov Inc. (NOV - Free Report) reported $2.22 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 5.9%. EPS of $0.57 for the same period compares to $0.39 a year ago.
The reported revenue represents a surprise of +1.98% over the Zacks Consensus Estimate of $2.17 billion. With the consensus EPS estimate being $0.35, the EPS surprise was +62.86%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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:
Energy Equipment - Revenue out of Backlog: $553 million compared to the $534.20 million average estimate based on four analysts.
Energy Equipment - Backlog: $4.33 billion compared to the $4.03 billion average estimate based on four analysts.
Energy Equipment - Book-to-Bill: 177% versus the three-analyst average estimate of 117.1%.
Energy Equipment - Backlog Orders: $977 million versus the three-analyst average estimate of $619.86 million.
Revenue- Energy Products and Services: $1.05 billion versus the eight-analyst average estimate of $1.06 billion.
Revenue- Eliminations: -$38 million compared to the -$47.71 million average estimate based on eight analysts. The reported number represents a change of -45.7% year over year.
Revenue- Energy Equipment: $1.20 billion versus $1.18 billion estimated by eight analysts on average.
Adjusted EBITDA- Eliminations: -$45 million versus -$52.35 million estimated by six analysts on average.
Adjusted EBITDA- Energy Equipment: $142 million versus the six-analyst average estimate of $137.58 million.
Adjusted EBITDA- Energy Products and Services: $184 million versus $187.44 million estimated by six analysts on average.
Shares of Nov Inc. have returned -3.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Nov Inc. (NOV) Reports Q2 Earnings: What Key Metrics Have to Say
Nov Inc. (NOV - Free Report) reported $2.22 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 5.9%. EPS of $0.57 for the same period compares to $0.39 a year ago.
The reported revenue represents a surprise of +1.98% over the Zacks Consensus Estimate of $2.17 billion. With the consensus EPS estimate being $0.35, the EPS surprise was +62.86%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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:
- Energy Equipment - Revenue out of Backlog: $553 million compared to the $534.20 million average estimate based on four analysts.
- Energy Equipment - Backlog: $4.33 billion compared to the $4.03 billion average estimate based on four analysts.
- Energy Equipment - Book-to-Bill: 177% versus the three-analyst average estimate of 117.1%.
- Energy Equipment - Backlog Orders: $977 million versus the three-analyst average estimate of $619.86 million.
- Revenue- Energy Products and Services: $1.05 billion versus the eight-analyst average estimate of $1.06 billion.
- Revenue- Eliminations: -$38 million compared to the -$47.71 million average estimate based on eight analysts. The reported number represents a change of -45.7% year over year.
- Revenue- Energy Equipment: $1.20 billion versus $1.18 billion estimated by eight analysts on average.
- Adjusted EBITDA- Eliminations: -$45 million versus -$52.35 million estimated by six analysts on average.
- Adjusted EBITDA- Energy Equipment: $142 million versus the six-analyst average estimate of $137.58 million.
- Adjusted EBITDA- Energy Products and Services: $184 million versus $187.44 million estimated by six analysts on average.
View all Key Company Metrics for Nov Inc. here>>>Shares of Nov Inc. have returned -3.2% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.