NYSE: NOV
NOV Inc.CIK 0001021860 · SIC 3533 · Oil & Gas Field Machinery & Equipment
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NOV reports Q2 2026 revenue of $2.13B, up 4% sequentially; returns $127M to shareholders
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NOV Q2 revenue flat at $2.13B; operating profit up 35% on offshore execution and tariff refunds
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NOV declares $0.09 supplemental dividend plus regular $0.09 quarterly dividend
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NOV: revenue $2.05B, net income $19.0M. NOV Q1 profit plunges 74% on Middle East disruptions; oil spike to post-quarter
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NOV Inc. reports Q1 2026 earnings results, holds investor conference call
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NOV Inc. discloses preliminary Q1 2026 financial results and operational update
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NOV appoints Kennametal CEO Sanjay Chowbey to board, expands to nine directors
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NOV director Ben A. Guill resigns citing personal time commitments
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Latest financial statements
From 10-Q filed Jul 29, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Income (Unaudited)
(In millions, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | 2,134 | 2,188 | 4,186 | 4,291 |
| Cost of revenue | 1,613 | 1,742 | 3,286 | 3,398 |
| Gross profit | 521 | 446 | 900 | 893 |
| Selling, general and administrative | 328 | 303 | 660 | 598 |
| Operating profit | 193 | 143 | 240 | 295 |
| Interest and financial costs | (21) | (22) | (43) | (44) |
| Interest income | 8 | 10 | 19 | 21 |
| Equity income (loss) in unconsolidated affiliates | (5) | 1 | (8) | 1 |
| Other expense, net | (18) | (17) | (16) | (37) |
| Net income before income taxes | 157 | 115 | 192 | 236 |
| Provision for income taxes | 41 | 1 | 56 | 48 |
| Net income | 116 | 114 | 136 | 188 |
| Net income attributable to noncontrolling interests | 4 | 6 | 5 | 7 |
| Net income attributable to Company | 112 | 108 | 131 | 181 |
| Net income attributable to Company per share: | ||||
| Basic | 0.31 | 0.29 | 0.36 | 0.48 |
| Diluted | 0.31 | 0.29 | 0.36 | 0.48 |
| Cash dividends per share | 0.18 | 0.285 | 0.27 | 0.36 |
| Weighted average shares outstanding: | ||||
| Basic | 359 | 375 | 360 | 378 |
| Diluted | 362 | 376 | 364 | 380 |
Consolidated Balance Sheets
(In millions, except share data)
| Description | June 30, 2026 (Unaudited) | December 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | 1,164 | 1,552 |
| Receivables, net | 1,813 | 1,701 |
| Inventories, net | 1,947 | 1,799 |
| Contract assets | 666 | 596 |
| Prepaid and other current assets | 199 | 172 |
| Total current assets | 5,789 | 5,820 |
| Property, plant and equipment, net | 2,016 | 2,050 |
| Lease right-of-use assets, operating | 320 | 315 |
| Lease right-of-use assets, financing | 180 | 187 |
| Deferred income taxes | 342 | 358 |
| Goodwill | 1,584 | 1,582 |
| Intangibles, net | 438 | 455 |
| Investment in unconsolidated affiliates | 159 | 163 |
| Other assets | 371 | 361 |
| Total assets | 11,199 | 11,291 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 858 | 831 |
| Accrued liabilities | 781 | 822 |
| Contract liabilities | 596 | 565 |
| Current portion of lease liabilities | 100 | 101 |
| Current portion of long-term debt | 14 | 30 |
| Accrued income taxes | 41 | 57 |
| Total current liabilities | 2,390 | 2,406 |
| Long-term debt | 1,692 | 1,688 |
| Lease liabilities | 520 | 521 |
| Deferred income taxes | 83 | 93 |
| Other liabilities | 253 | 261 |
| Total liabilities | 4,938 | 4,969 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| Common stock par value $.01; 1 billion shares authorized; 357,299,308 and 360,803,354 shares issued and outstanding at June 30, 2026 and December 31, 2025 | 4 | 4 |
| Additional paid-in capital | 8,270 | 8,361 |
| Accumulated other comprehensive loss | (1,430) | (1,424) |
| Retained deficit | (639) | (673) |
| Total Company stockholders’ equity | 6,205 | 6,268 |
| Noncontrolling interests | 56 | 54 |
| Total stockholders’ equity | 6,261 | 6,322 |
| Total liabilities and stockholders’ equity | 11,199 | 11,291 |
Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 136 | 188 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 185 | 176 |
| Deferred income taxes | 5 | 14 |
| Stock-based compensation | 41 | 33 |
| Other, net | 3 | 50 |
| Change in operating assets and liabilities, net of acquisitions: | ||
| Receivables | (111) | 24 |
| Inventories | (170) | (18) |
| Contract assets | (70) | (78) |
| Prepaid and other current assets | (27) | (3) |
| Accounts payable | 27 | (14) |
| Accrued liabilities | (60) | (120) |
| Contract liabilities | 31 | 21 |
| Income taxes payable | (15) | 2 |
| Other assets/liabilities, net | 16 | 51 |
| Net cash provided by (used in) operating activities | (9) | 326 |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | (146) | (167) |
| Business acquisitions, net of cash acquired | (13) | — |
| Proceeds from sales of fixed assets | 45 | 5 |
| Net cash used in investing activities | (114) | (162) |
| Cash flows from financing activities: | ||
| Payments against lines of credit and other debt | (13) | (13) |
| Cash dividends paid | (97) | (135) |
| Share repurchases | (130) | (150) |
| Financing leases | (16) | (14) |
| Other | (7) | (21) |
| Net cash used in financing activities | (263) | (333) |
| Effect of exchange rates on cash | (2) | 19 |
| Decrease in cash and cash equivalents | (388) | (150) |
| Cash and cash equivalents, beginning of period | 1,552 | 1,230 |
| Cash and cash equivalents, end of period | 1,164 | 1,080 |
| Supplemental disclosures of cash flow information: | ||
| Cash payments during the period for: | ||
| Interest | 40 | 42 |
| Income taxes | 79 | 86 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share data); (In millions, except share data); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗