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NOV Reports Second Quarter 2026 Earnings
Revenues of $2.13 billion, up 4% sequentially and down 2% year-over-yearNet income of $112 million, or $0.31 per share, an increase of $93 million sequentially and $4 million year-over-yearAdjusted EBITDA1,2 of $283 million, an increase of $106 million sequentially and $31 million year-over-yearReturned $127 million of capital to shareholders through share repurchases and dividendsBookings of $474 million, representing a book-to-bill of 74% 1 Free Cash Flow, Excess Free Cash Flow, Adjusted opera
About this update from Nov Inc.
1 Free Cash Flow, Excess Free Cash Flow, Adjusted operating profit, and Adjusted EBITDA are non-GAAP measures, see "Non-GAAP Financial Measures," and "Reconciliation of GAAP to non-GAAP measures" below.2 Second quarter 2026 Adjusted EBITDA includes a benefit of approximately $40 million related to tariff refunds HOUSTON, July 28, 2026 (GLOBE NEWSWIRE) -- NOV Inc. (NYSE: NOV) today reported second quarter 2026 revenues of $2.13 billion, an increase of four percent sequentially and a decrease of two percent compared to the second quarter of 2025. Net income increased $4 million, or $0.02 per diluted share, year-over-year to $112 million. Operating profit was $193 million, or 9.0 percent of sales, an increase of 35 percent versus the second quarter of 2025. Adjusted operating profit was $190 million, an increase of 15 percent versus the second quarter of 2025. Adjusted EBITDA increased $31 million year-over-year to $283 million, or 13.3 percent of sales. Second quarter 2026 Adjusted operating profit and Adjusted EBITDA include a benefit of approximately $40 million related to tariff refunds. "NOV's second quarter results reflect outstanding execution by our team in a market that is demonstrating significantly improved underlying industry fundamentals," said Jose Bayardo, Chairman, President, and CEO. "During the second quarter, we were better able to navigate the continued logistical challenges in the Middle East, while our businesses benefited from improving demand in most major regions. "While recent price volatility and geopolitical uncertainty continue to cause temporary disruptions and project deferrals, we are encouraged by a growing pipeline of capital equipment opportunities and improving short cycle activity across most markets. Additionally, it is becoming increasingly apparent that depleting inventories and significantly heightened focus on energy security, combined with a decade of constrained investments in the industry's asset base, is starting a synchronized global recovery that should drive meaningful demand for NOV's technology and equipment over the next several years. "We believe the actions our organization is taking, including continued investment in the development of superior solutions for our customers and initiatives to drive efficiencies across our operations, position NOV to demonstrate meaningfully higher earnings over the co...