NOV 2026年一季度报告

NOVREPORTS FIRST QUARTER 2026 EARNINGS •Revenues of $2.05 billion•Net income of $19 million, or $0.05 per share•Adjusted EBITDA* of $177 million•Bookings of $520 million, representing a book-to-bill of 80%•Returned $100 million of capital to shareholders through share repurchases and dividends *Free Cash Flow, Excess Free Cash Flow, Adjusted Operating Profit, and Adjusted EBITDA are non-GAAP measures, see “Non-GAAPFinancial Measures,” and “Reconciliation of GAAP to non-GAAP measures” below. HOUSTON, TX, April 27, 2026⎯NOV Inc. (NYSE: NOV) today reported first quarter 2026 revenues of $2.05billion, a decrease of two percent compared to the first quarter of 2025. Net income decreased $54 million, or$0.14 per diluted share, year-over-year to $19 million. Operating profit was $47 million and adjusted operatingprofit was $85 million, compared to operating profit of $152 million and adjusted operating profit of $163 millionin the first quarter of 2025. Adjusted EBITDA decreased $75 million year-over-year to $177 million,or 8.6percent of sales. “The conflict in the Middle East created significant operational disruptions during the first quarter, but alsoreinforced and accelerated market trends that we believe will drive a meaningfully more constructiveenvironment for NOV,” said Jose Bayardo, Chairman, President and CEO. “The war’s impact on logistics delayed quarter-end deliveries of equipment and spare parts, disrupted offshoreservice and repair activity, and increased operating costs in the region, resulting in an estimated impact of $54million in revenue and $32 million in Adjusted EBITDA. Despite these challenges, our team did an outstandingjob prioritizing safety and supporting our customers, and I want to thank them for their efforts under verydifficult conditions. “Outside of the Middle East, our business performed well, demonstrating the resilience of our diverse portfolioof equipment and technologies that enable the efficient development of energy resources around the world.While near-term disruptions are expected to persist in the second quarter, the market has shifted rapidly fromwhat was expected to be an oversupplied environment to one that is now significantly undersupplied. “We expect sustainably higher commodity prices, along with a renewed focus on energy security anddiversification, to increase urgency across the industry. After a decade of limited investment, we believe thestage is set for a meaningful increase in activity and investment, driving a new capital equipment cycle. NOV iswell positioned to support customers and benefit as that cycle develops.” Energy EquipmentEnergy Equipment generated revenues of $1.19 billion in the first quarter of 2026, an increase of four percent from the first quarter of 2025. Operating profit decreased $41 million from the prior year to $93 million, or 7.8percent of sales, and included$9 million in pre-tax Other Items. Adjusted EBITDA decreased $34 million fromthe prior year to $131 million, or 11.0 percent of sales. Strong execution on the segment’s capital equipmentbacklog more than offset lower sales of aftermarket parts and services, which were impacted by war relateddisruptions in the Middle East. A less favorable sales mix and higher costs from the Middle East disruptionscontributed to lower profitability. New orders booked during the quarter totaled $520 million, an increase of $83 million when compared to the$437 million of new orders booked during the first quarter of 2025. Orders shipped from backlog were $650million, representing a book-to-bill of 80percent and an increase of $101 million when compared to the $549million orders shipped and an 80 percent book-to-bill during the first quarter of 2025. As of March 31, 2026,backlog for capital equipment orders for Energy Equipment totaled $4.23 billion,a decrease of $184 millionfrom the first quarter of 2025. Energy Products and ServicesEnergy Products and Services generated revenues of $897 million in the first quarter of 2026, a decrease of 10 percent from the first quarter of 2025. Operating profit decreased $57 million from the prior year to $26 million,or 2.9 percent of sales, and included $8 million in pre-tax Other Items. Adjusted EBITDA decreased $49 millionfrom the prior year to $96 million, or 10.7 percent of sales. Disruptions in the Middle East and lower globaldrilling activity more than offset strong performance from the segment’s drill bit and digital services businesses. Second Quarter 2026 OutlookThe Company is providing financial guidance for the second quarter of 2026, which constitutes“forward-looking statements” as described further below under “Cautionary Note Regarding Forward-Looking Statements.” Thisguidance is subject to, and may be affected by, the current uncertainty and conflict in the Middle East, andassumes that conditions in the region will not deteriorate further. A worsening of such conditions may causeactual results to differ materially from the expected g