Analysts expect yet another losing quarter. Will things ever turn around for NOV?
7 replies (most recent on top)
The reason NOV have cash reserves is because of the rates of pay (low)
Amazing how they’ve posted losses since 2014 and still get praise from investment sites for having $90M in cash reserves. Maybe they should go into banking.
If Elf on the Shelf is still running the show, then of course, it will be another losing year.... why mess up the 8th consecutive year of no profit??
These fools are fooling no one with a brain.
NOV is toast. Period!
As soon as the management folks sucking the remaining blood from this place realize it, it will be better off. So will everybody else.
New management is needed now.
Get rid of all hunting club buddies, golfers who spend all day on the company card with friends.
Get rid of the nepotism, all of them.
Also get rid of the damn golf carts! All of them. That will end the cruisers riding around all say searching for boxes that dont exist.
Here are the worlds top coal mining equipment manufacturers. What’s different about these guys vs NOV? They’re all diversified. The same front end loader used in coal mining can be used in any quarry….iron ore, stone, gravel, lithium, you name it. And these markets are growing. A drilling rig is good for one thing only (maybe excepting geothermal) and as the O&G market stagnates, so will NOV and other pure O&G equipment companies without much greater diversification.
Caterpillar Inc.
Komatsu Ltd.
The Liebherr Group
Hitachi, Ltd.
Terex Corporation
United Heavy Machinery/Uralmash-Izhora Group
Taiyuan Heavy Industry Co., Ltd (TYHI)
Sany Heavy Industry Co., Ltd.
It doesn’t matter. Upper management will still get their million dollar bonuses.
It is never too early to talk about ongoing losses.