NOV Inc. Files Q3 2024 10-Q
Ticker: NOV · Form: 10-Q · Filed: 2024-10-25T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, oil-and-gas, financials
TL;DR
NOV Inc. Q3 10-Q filed. Financials and ops update for oil & gas equipment giant.
AI Summary
NOV Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and segment information are presented, reflecting the company's activities in the oil and gas machinery and equipment sector.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational insights for NOV Inc., crucial for understanding the company's performance in the oil and gas equipment sector.
Risk Assessment
Risk Level: medium — The company operates in the cyclical oil and gas industry, which is subject to significant price volatility and regulatory changes.
Key Numbers
- P3M — Period-over-Period Comparison (Indicates a comparison of financial metrics over three months.)
- P1Y — Year-over-Year Comparison (Indicates a comparison of financial metrics over one year.)
Key Players & Entities
- NOV Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-10-25 (date) — Filing date
- OIL & GAS FILED MACHINERY & EQUIPMENT [3533] (industry) — Company's Standard Industrial Classification
- HOUSTON (location) — Company's business and mailing address city
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 25, 2024.
What is NOV Inc.'s Standard Industrial Classification code?
NOV Inc.'s Standard Industrial Classification code is 3533, for OIL & GAS FILED MACHINERY & EQUIPMENT.
What are the main operating segments mentioned in the filing?
The filing mentions operating segments including nov:EnergyEquipmentsMember, nov:InternationalMember, and nov:ContinentalMember.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
From the Filing
0000950170-24-117316.txt : 20241025 0000950170-24-117316.hdr.sgml : 20241025 20241025130734 ACCESSION NUMBER: 0000950170-24-117316 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 77 CONFORMED PERIOD OF REPORT: 20240930 FILED AS OF DATE: 20241025 DATE AS OF CHANGE: 20241025 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: 241396003 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-20240930.htm 10-Q 10-Q 0001021860 Q3 false --12-31 P3M P1Y P1Y http://www.nov.com/20240930#LeaseLiabilitiesCurrent http://www.nov.com/20240930#LeaseLiabilitiesCurrent http://www.nov.com/20240930#LeaseLiabilitiesCurrent http://www.nov.com/20240930#LeaseLiabilitiesCurrent http://www.nov.com/20240930#LeaseLiabilitiesNonCurrent http://www.nov.com/20240930#LeaseLiabilitiesNonCurrent http://www.nov.com/20240930#LeaseLiabilitiesNonCurrent http://www.nov.com/20240930#LeaseLiabilitiesNonCurrent http://www.nov.com/20240930#CanadianDollarOfferedRateCDORMember 0001021860 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-01-01 2024-09-30 0001021860 2024-10-01 2024-09-30 0001021860 us-gaap:ParentMember 2023-06-30 0001021860 us-gaap:RetainedEarningsMember 2024-03-31 0001021860 us-gaap:RetainedEarningsMember 2022-12-31 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember nov:InternationalMember nov:ContinentalMember 2024-01-01 2024-09-30 0001021860 nov:EnergyProductsAndServicesMember us-gaap:OperatingSegmentsMember nov:LandAndOffshoreMember nov:OffshoreDestinationMember 2023-01-01 2023-09-30 0001021860 nov:LandAndOffshoreMember nov:OffshoreDestinationMember 2023-01-01 2023-09-30 0001021860 us-gaap:IntersubsegmentEliminationsMember us-gaap:OperatingSegmentsMember nov:EnergyProductsAndServicesMember nov:LandAndOffshoreMember 2024-07-01 2024-09-30 0001021860 us-gaap:ParentMember 2024-04-01 2024-06-30 0001021860 nov:NovIncLongTermIncentivePlanMember 2023-07-01 2023-09-30 0001021860 2023-09-30 0001021860 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember us-gaap:AccruedLiabilitiesMember 2023-12-31 0001021860 us-gaap:CommonStockMember 2024-04-01 2024-06-30 0001021860 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-09-30 0001021860 us-gaap:ParentMember 2023-09-30 0001021860 us-gaap:OperatingSegmentsMember nov:LandAndOffshoreMember nov:EnergyEquipmentsMember nov:OffshoreDestinationMember 2023-01-01 2023-09-30 0001021860 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2024-01-01 2024-09-30 0001021860 us-gaap:RoyaltyMember 2024-07-01 2024-09-30 0001021860 us-gaap:ParentMember 2023-04-01 2023-06-30 0001021860 us-gaap:NoncontrollingInterestMember 2023-03-31 0001021860 us-gaap:PrepaidExpensesAndOtherCurrentAssetsMember us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember 2024-09-30 0001021860 us-gaap:CommonStockMember 2024-03-31 0001021860 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-07-01 2024-09-30 0001021860 us-gaap:OperatingSegmentsMember nov:EnergyEquipmentsMember 2024-07-01 2024-09-30 0001021860 2024-09-30 0001021860 2024-10-11 0001021860 nov:ContinentalMember srt:NorthAmericaMember 2024-07-01 2024-09-30 0001021860 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001021860 nov:UnsecuredRevolvingCreditFacilityMember 2024-09-12 0001021860 us-gaap:AdditionalPaidIn