Slide 1: NOV Inc. First Quarter 2025 Earnings Presentation
NOV Inc. First Quarter 2025 Earnings Presentation
Slide 2: Safe Harbor / Forward Looking Statements / Non-GAAP Financial Measures
Safe Harbor / Forward Looking Statements / Non-GAAP Financial Measures This document contains, or has incorporated by reference, statements that are not historical facts, including estimates, projections, and statements relating to our business plans, objectives, and expected operating results that
Slide 3: NOV powers the industry that powers the world.
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology
Slide 4: First Quarter 2025 Highlights
First Quarter 2025 Highlights 14th straight quarter of year-over-year Adjusted EBITDA margin improvement Adjusted EBITDA Margin1 Working Capital Intensity2 Capital Returned +80 BPS YOY 520 basis point improvement YOY $81MM of share repurchases $28MM in dividends 12.0% 30.7% $109MM 1 Adjusted EBITDA
Slide 5: Significant Achievements
Significant Achievements Signed agreement with Petrobras to develop a Awarded a Triethylene Glycol (TEG) gas Supplied an integrated BHA that enabled a flexible pipe design that combats CO2 stress dehydration project for a National Oil global service company to set field record in corrosion cracking
Slide 6: Q1 2025 Consolidated Revenue
Q1 2025 Consolidated Revenue Year-on-Year Year-on-Year $992MM Revenue EBITDA EBITDA % Energy Products and Services (2)% (17)% 14.6% $1.15B (3)% +39% 14.4% Energy Equipment $2.10B (2)% +5% 12.0% NOV 55% 45% 39% 61% Land Offshore North America International Form 8-K containing earnings release for the
Slide 7: Energy Products and Services
Energy Products and Services Provides critical technologies consumed in the drilling, completion, and production processes Accelerating market adoption of newer performance technologies partially offset revenue declines due to lower industry activity. Lower volumes and a less favorable sales mix red
Slide 8: Energy Equipment
Energy Equipment Designs, delivers, and supports advanced drilling, completion, and production solutions Lower demand for aftermarket parts and services was partially offset by an increase in revenues out of backlog. Improved pricing of projects in our backlog and strong execution resulted in improv
Slide 9: Capital Allocation
Capital Allocation Balance Sheet Capex M&A Return Capital Investment grade rating critical Maintain our asset base and Enhance strategic growth Through base dividend, share to business model invest in organic growth initiatives repurchases, and annual opportunities supplemental dividend2 <1x <2x $8
Slide 10: Q2 2025 Outlook
Outlook: Q2 2025 Outlook Year-Over-Year (Q2’24 vs Q2’25) Revenue Down one to four percent NOV Adj. EBITDA $250 million - $280 million Revenue Down five to eight percent EPS Adj. EBITDA $140 million - $160 million Revenue Flat to up one percent EE Adj. EBITDA $155 million - $175 million Guidance is b
Slide 11: Appendix
Appendix © 2025 NOV Inc. All rights reserved. 2025 Earnings Presentation – 4/29/2025 11
Slide 12: Reconciliation of Net Income to Adjusted EBITDA (Unaudited)
Reconciliation of Net Income to Adjusted EBITDA (Unaudited) In millions Three Months Ended March 31, December 31, 2025 2024 2024 Revenue: Energy Products and Services $ 992 $ 1,017 $ 1,060 Energy Equipment 1,146 1,178 1,287 Eliminations (35) (40) (39) Total revenue 2,103 2,155 2,308 Adjusted EBITDA:
Slide 13: Reconciliation of Cash Flows from Operating Activities to Free Cash Flow (Unaudited)
Reconciliation of Cash Flows from Operating Activities to Free Cash Flow (Unaudited) In millions Three Months Ended March 31, 2025 2024 Total cash flows provided by (used in) operating activities $ 135 $ (78) Capital expenditures (84) (69) Free Cash Flow $ 51 $ (147) Business acquisitions, net of ca
Slide 14: © 2025 NOV Inc. All rights reserved. 2025 Earnings Presentation – 4/29/2025
© 2025 NOV Inc. All rights reserved. 2025 Earnings Presentation – 4/29/2025 14