Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2017-10-27 19:10:00

NOV VARCO NET LOSS $221 MLN

NOV VARCO NET LOSS $221 MLN

NOV VARCO - National Oilwell Varco, Inc. (NYSE: NOV) reported a third quarter 2017 net loss of $26 million, or $0.07 per share. Revenues for the third quarter of 2017 were $1.84 billion, an increase of four percent compared to the second quarter of 2017 and an increase of eleven percent from the third quarter of 2016. Operating loss for the third quarter was $7 million, or 0.4 percent of sales. Adjusted EBITDA (operating profit excluding other items before depreciation and amortization) for the third quarter was $167 million, or 9.1 percent of sales, an increase of $25 million from the second quarter of 2017. Cash flow from operations for the third quarter was $232 million.

"Our team delivered solid results in the third quarter as higher sequential sales of Wellbore Technologies and Completion & Production Solutions products enabled NOV to overcome a retrenchment in rig equipment demand," commented Clay Williams, Chairman, President and CEO. "Despite weak commodity prices through the quarter, and the significant disruption of Hurricane Harvey along the Gulf Coast, NOV delivered 18 percent more Adjusted EBITDA as compared to the prior quarter, due in part to the Company's pivot into new products that are gaining traction globally. We continue to pioneer new, safer and more efficient ways to develop and produce oil and gas in a low commodity price world."

 

NATIONAL OILWELL VARCO, INC.

CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited)

(In $ millions, except per share data)

  Three Months Ended Nine Months Ended
  September 30, June 30, September 30,
  2017 2016 2017 2017 2016
Revenue:          
Rig Systems 330 470 346 1,069 1,960
Rig Aftermarket 311 322 341 973 1,077
Wellbore Technologies 693 526 614 1,862 1,668
Completion & Production Solutions 682 543 652 1,982 1,639
Eliminations (181) (215) (194) (551) (785)
Total revenue 1,835 1,646 1,759 5,335 5,559
Gross profit (1) 285 79 231 725 358
Gross profit % 15.5 4.8 13.1 13.6 6.4
           
Selling, general, and administrative 292 293 293 891 1,031
Goodwill impairment - 972 - - 972
           
Operating loss (7) (1,186) (62) (166) (1,645)
           
Interest and financial costs (26) (25) (26) (77) (80)
Interest income 11 3 4 19 11
Equity loss in unconsolidated affiliates (2) (6) (2) (4) (19)
Other income (expense), net (6) (30) (2) (19) (85)
           
Loss before income taxes (30) (1,244) (88) (247) (1,818)
           
Provision for income taxes (3) 120 (14) (26) (119)
           
Net loss (27) (1,364) (74) (221) (1,699)
           
Net income attributable to noncontrolling interests (1) (2) 1 2 (1)
           
Net loss attributable to Company (26) (1,362) (75) (223) (1,698)
           
Per share data:          
Basic (0.07) (3.62) (0.20) (0.59) (4.53)
Diluted (0.07) (3.62) (0.20) (0.59) (4.53)
Weighted average shares outstanding:          
Basic 377 376 377 377 375
Diluted 377 376 377 377 375
     
(1)   Gross profit excluding other items was $285 million and $782 million for the three and nine months ended September 30, 2017, respectively. Gross profit excluding other items was $185 million and $624 million for the three and nine months ended September 30, 2016, respectively. Gross profit excluding other items was $261 million for the three months ended June 30, 2017. 

----

Earlier:

NOV VARCO NET LOSS $75 MLN
2017, July, 31, 14:05:00

NOV VARCO NET LOSS $75 MLN

National Oilwell Varco, Inc. (NYSE: NOV) reported a second quarter 2017 net loss of $75 million, or $0.20 per share. Excluding other items, net loss for the quarter was $54 million, or $0.14 per share. Other items totaled $30 million, pretax, and primarily consisted of charges related to severance and facility closures.

 

 NOV VARCO NET LOSS $336 MLN
2016, July, 28, 18:35:00

NOV VARCO NET LOSS $336 MLN

National Oilwell Varco, Inc. (NYSE:NOV) reported a second quarter 2016 net loss of $217 million, or $0.58 per share. Excluding other items, net loss for the quarter was $114 million, or $0.30 per share. Other items included $143 million in pre-tax charges ($103 million net of tax) primarily associated with severance, facility closure costs, and write-off of certain fixed assets.

 

 NOV VARCO CUTS 900 JOBS
2015, December, 8, 19:25:00

NOV VARCO CUTS 900 JOBS

U.S. oilfield equipment maker National Oilwell Varco Inc will cut its Norwegian workforce by another 900 people after low oil prices resulted in fewer orders, the company said on Monday.

 

 SANCTIONS: NOV WARNS RUSSIA
2014, August, 5, 18:15:00

SANCTIONS: NOV WARNS RUSSIA

National Oilwell Varco warns of Russian sanctions impact

 

 US SANCTIONS: NOV INVESTS IN RUSSIA
2014, May, 5, 18:30:00

US SANCTIONS: NOV INVESTS IN RUSSIA

National Oilwell Varco published their Q1 2014 Results

 

 VARCO CREATE  DISTRIBUTOR
2014, March, 5, 16:38:00

VARCO CREATE DISTRIBUTOR

National-Oilwell Varco Spin Off Will Create Leading Distributor to Energy Markets

 

 VARCO: IS THE GROWTH FINISHED?
2014, January, 31, 16:38:00

VARCO: IS THE GROWTH FINISHED?

National Oilwell Varco Announces Fourth Quarter and Full Year 2013 Earnings.

 

 

 

Tags: NOV, VARCO

Chronicle:

NOV VARCO NET LOSS $221 MLN
2018, April, 18, 13:04:00

U.S. INDUSTRIAL PRODUCTION UP 0.5%

FRB - Industrial production rose 0.5 percent in March after increasing 1.0 percent in February; the index advanced 4.5 percent at an annual rate for the first quarter as a whole. After having climbed 1.5 percent in February, manufacturing production edged up 0.1 percent in March. Mining output rose 1.0 percent, mostly as a result of gains in oil and gas extraction and in support activities for mining. The index for utilities jumped 3.0 percent after being suppressed in February by warmer-than-normal temperatures. At 107.2 percent of its 2012 average, total industrial production was 4.3 percent higher in March than it was a year earlier. Capacity utilization for the industrial sector moved up 0.3 percentage point in March to 78.0 percent, a rate that is 1.8 percentage points below its long-run (1972–2017) average.

NOV VARCO NET LOSS $221 MLN
2018, April, 18, 13:02:00

KUWAIT'S INVESTMENT $113 BLN

AOG - Kuwait plans to invest $113bn over the next five years to enhance oil exploration and production activities both inside and outside the country

NOV VARCO NET LOSS $221 MLN
2018, April, 18, 13:00:00

ЦЕНА URALS: $ 65,80125

МИНФИН РОССИИ - Средняя цена на нефть Urals за период мониторинга с 15 марта по 14 апреля 2018 года составила $ 65,80125 за баррель, или $ 480,3 за тонну.

NOV VARCO NET LOSS $221 MLN
2018, April, 16, 09:50:00

OIL PRICE: NOT ABOVE $72

REUTERS - Oil prices slipped with Brent crude futures LCOc1 off 66 cents at $71.92 a barrel, while U.S. crude CLc1 fell 56 cents to $66.83 a barrel.

All Publications »