NOV Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: NOV · Form: 10-Q · Filed: 2024-04-26T00:00:00.000Z
Sentiment: neutral
Topics: NOV Inc., 10-Q, Financial Report, Oil & Gas Equipment, Quarterly Earnings
TL;DR
<b>NOV Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and operational segments.</b>
AI Summary
NOV Inc. (NOV) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. NOV Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of the fiscal year. NOV Inc. is listed under SIC code 3533 for Oil & Gas Filed Machinery & Equipment. The company was formerly known as National Oilwell Varco Inc. The filing includes data related to various segments such as Energy Equipment and Energy Products & Services.
Why It Matters
For investors and stakeholders tracking NOV Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial and operational data for NOV Inc. for the first quarter of 2024, enabling informed investment decisions. Understanding the segment performance (e.g., Energy Equipment, Energy Products & Services) and geographical breakdowns (e.g., North America, International) within this filing is crucial for assessing the company's market position and future growth prospects.
Risk Assessment
Risk Level: — NOV Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting. However, the oil and gas industry is subject to inherent volatility, which could pose medium risks.
Analyst Insight
Review the detailed segment revenues and growth rates in the 10-Q to identify key drivers of performance and potential areas of concern.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Energy Equipment | ||
| Energy Products & Services | ||
| Land and Offshore | ||
| Offshore Destination |
Key Numbers
- 2024-03-31 — Period End Date (Conformed period of report)
- 2024-04-26 — Filing Date (Filed as of date)
- Q1 — Reporting Quarter (Indicates the first quarter of the fiscal year)
- 12317 — SEC File Number (SEC file number for NOV Inc.)
Key Players & Entities
- NOV Inc. (company) — Filer
- NATIONAL OILWELL VARCO INC (company) — Former company name
- NATIONAL OILWELL INC (company) — Former company name
- DE (company) — State of incorporation
- HOUSTON (company) — Business address city
- 2024-03-31 (date) — Conformed period of report
- 2024-04-26 (date) — Filed as of date
- 3533 (industry) — Standard Industrial Classification
FAQ
When did NOV Inc. file this 10-Q?
NOV Inc. filed this Quarterly Report (10-Q) with the SEC on April 26, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by NOV Inc. (NOV).
Where can I read the original 10-Q filing from NOV Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by NOV Inc..
What are the key takeaways from NOV Inc.'s 10-Q?
NOV Inc. filed this 10-Q on April 26, 2024. Key takeaways: NOV Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024.. The filing covers the first quarter of the fiscal year.. NOV Inc. is listed under SIC code 3533 for Oil & Gas Filed Machinery & Equipment..
Is NOV Inc. a risky investment based on this filing?
Based on this 10-Q, NOV Inc. presents a moderate-risk profile. The filing is a standard 10-Q, indicating routine financial reporting. However, the oil and gas industry is subject to inherent volatility, which could pose medium risks.
What should investors do after reading NOV Inc.'s 10-Q?
Review the detailed segment revenues and growth rates in the 10-Q to identify key drivers of performance and potential areas of concern. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
- 2024-04-26: Filing Date — Date the 10-Q was officially filed with the SEC.
From the Filing
0000950170-24-048859.txt : 20240426 0000950170-24-048859.hdr.sgml : 20240426 20240426130101 ACCESSION NUMBER: 0000950170-24-048859 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 81 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240426 DATE AS OF CHANGE: 20240426 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NOV Inc. CENTRAL INDEX KEY: 0001021860 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 06 Technology IRS NUMBER: 760475815 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-12317 FILM NUMBER: 24881118 BUSINESS ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: 346-223-3000 MAIL ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL VARCO INC DATE OF NAME CHANGE: 20050311 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL INC DATE OF NAME CHANGE: 19960829 10-Q 1 nov-20240331.htm 10-Q 10-Q false 0001021860 Q1 --12-31 P9M P1Y http://www.nov.com/20240331#LeaseLiabilitiesCurrent http://www.nov.com/20240331#LeaseLiabilitiesCurrent http://www.nov.com/20240331#LeaseLiabilitiesCurrent http://www.nov.com/20240331#LeaseLiabilitiesCurrent http://www.nov.com/20240331#LeaseLiabilitiesNonCurrent http://www.nov.com/20240331#LeaseLiabilitiesNonCurrent http://www.nov.com/20240331#LeaseLiabilitiesNonCurrent http://www.nov.com/20240331#LeaseLiabilitiesNonCurrent 0001021860 us-gaap:ForwardContractsMember 2024-03-31 0001021860 nov:CanadianDollarOfferedRateCDORMember 2024-01-01 2024-03-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember us-gaap:IntersubsegmentEliminationsMember nov:LandAndOffshoreMember 2023-01-01 2023-03-31 0001021860 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001021860 us-gaap:EmployeeStockOptionMember nov:TwoThousandEighteenLongTermIncentivePlanMember 2024-02-06 2024-02-06 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyProductsAndServicesMember srt:NorthAmericaMember nov:ContinentalMember 2023-01-01 2023-03-31 0001021860 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-01 2024-03-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember srt:NorthAmericaMember nov:ContinentalMember 2024-01-01 2024-03-31 0001021860 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember 2024-03-31 0001021860 us-gaap:CommonStockMember 2024-01-01 2024-03-31 0001021860 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyProductsAndServicesMember us-gaap:IntersubsegmentEliminationsMember nov:ContinentalMember 2024-01-01 2024-03-31 0001021860 nov:LandAndOffshoreMember nov:OffshoreDestinationMember 2023-01-01 2023-03-31 0001021860 nov:SeniorNotesDueOnDecemberOneTwoThousandTwentyNineMember 2024-03-31 0001021860 nov:LandAndOffshoreMember nov:OffshoreDestinationMember 2024-01-01 2024-03-31 0001021860 us-gaap:RetainedEarningsMember 2022-12-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyProductsAndServicesMember us-gaap:IntersubsegmentEliminationsMember nov:LandAndOffshoreMember 2023-01-01 2023-03-31 0001021860 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2023-01-01 2023-03-31 0001021860 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-03-31 0001021860 nov:CumulativeShareholderReturnPerformanceStockAwardsMember 2024-01-01 2024-03-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyProductsAndServicesMember 2024-01-01 2024-03-31 0001021860 nov:InternationalMember us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember nov:ContinentalMember 2024-01-01 2024-03-31 0001021860 2024-01-01 2024-03-31 000102186