Thread regarding National Oilwell Varco Inc. layoffs

NOV Shares Fall About 9% After Company Says It Will Miss 1Q Guidance

More great news from this pathetic company. Disappoint even before the official announcement. And now today crude getting hammered another 8%+. Expect things to get even more disappointing.

The Wall Street Journal
Last Updated March 16, 2021, 12:39 PM
By Dave Sebastian

NOV Inc. shares fell 9.4% to $15.34 Tuesday after the company said it expects to report first-quarter results that are lower than previously guided on winter-weather disruptions in Texas and Oklahoma, softer-than-anticipated customer orders, reduced oil-field customer spending and the effects of the pandemic.

The company, which provides equipment and technology to the upstream oil and gas industry, said it expects first-quarter revenue of $1.20 billion to $1.25 billion, with an adjusted loss before interest, taxes, depreciation and amortization of $15 million to $25 million.

Write to Dave Sebastian at dave.sebastian@wsj.com

© 2021 Dow Jones & Company, Inc.

by Monkeys on the Football
| 1949 views | | 6 replies (last ) | Reply
Post ID: @OP+19VIYQqf
Comment! It's anonymous!

6 replies (most recent on top)

Rigs are going back to work and on term contracts are being handed out, add to that the companies push for the renewable sector and you're not going to see an instant reaction in the stock value. Way to many bitter ex employees in here. Another 6 months and the stock price will be north of 25. You heard it here first;)

by Keeping.busy.on.the.other.side
| | Reply
Post ID: @4shy+19VIYQqf

This statement is all about soften then blow. If it were to be bumper results nothing would be said. Playing the game that’s all

by Anonymous
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Post ID: @2hbw+19VIYQqf

@aso+19VIYQqf
Yes the earnings are disappointing, but bankruptcy?? Fat chance. The company stands to lose something like $25M in the current quarter, but has well over $1B in cash.

by Anonymous
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Post ID: @2drl+19VIYQqf

Oil up but more red for NOV today. This company is a has been, glad to see it crater.

by Julius
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Post ID: @1krv+19VIYQqf

The Chief Elfecutive Officer needs to pack his $h*t up, grab Pepito and get the hell out! When will he or anyone in the company for that matter realize this management team has destroyed the company?

Take your money and run Napoleon.

by Anonymous
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Post ID: @oiw+19VIYQqf

I hope it goes chapter 11 very soon

by Slim Jim
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Post ID: @aso+19VIYQqf

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