NOV Inc. (NOV) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Please note that today's conference is being recorded. I will now hand the conference over to your speaker host for today, Amy D'Ambrosio, Director of Investor Relations. Amy, please go ahead. Welcome, everyone, to NOV's fourth quarter and full year 2025 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 fourth quarter of 2025, NOV reported revenues of $2.28 billion and a net loss of $78 million, or 21 cents per fully diluted share. For the full year 2025, revenues were $8.74 billion and net income was $145 million for 39 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 our earnings release. Later in the call, we will host a question and answer session. Please limit yourself to one question and one follow-up to permit more participation. Now, let me turn the call over to Jose. Thank you, Amy, and thank you everyone for joining us this morning. I want to start by recognizing and thank...