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2017-04-27 18:30:00

NOV VARCO NET LOSS $122 MLN

NOV VARCO NET LOSS $122 MLN

NOV - National Oilwell Varco, Inc. (NYSE: NOV) today reported a first quarter 2017 net loss of $122 million, or $0.32 per share. Excluding other items, net loss for the quarter was $63 million, or $0.17 per share. Other items totaled $37 million, pretax, and primarily consisted of charges related to severance and facility closures.

Revenues for the first quarter of 2017 were $1.74 billion, an increase of three percent compared to the fourth quarter of 2016 and a decrease of 20 percent from the first quarter of 2016. Operating loss for the first…

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U.S. RIGS DOWN 10 TO 1,012

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