NOV Inc. (NOV) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the first quarter of 2026 NOV Inc. Earnings Conference Call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1-1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised today's conference is being recorded. I would now like to hand the conference over to your speaker today, Amy D'Ambrosio, Director of Investor Relations. Please go ahead. Welcome everyone to NOV's first quarter 2026 earnings conference call. With me today are Jose Bayardo, our chairman, president, and CEO, and Rodney Reed, our senior vice president and CFO. Before we begin, I would like to remind you that some of today's comments are forward-looking statements within the meaning of the federal securities laws. They involve risks and uncertainty, and actual results may differ materially. No one should assume these forward-looking statements remain valid later in the quarter or later in the year. For a more detailed discussion of the major risk factors affecting our business, please refer to our latest forms 10-K and 10-Q filed with the Securities and Exchange Commission. Our comments also include non-GAAP measures. Reconciliations to the nearest corresponding GAAP measures are in our earnings release available on our website. On a U.S. GAAP basis for the first quarter of 2026, NOV reported revenues of $2.05 billion and a net income of $19 million, or 5 cents, per fully diluted share. Our use of the term EBITDA throughout this morning's call corresponds with the term adjusted EBITDA, as defined in ...