$NOV (National Oilwell Varco, Inc.)

$NOV {{ '2016-07-28T12:31:16+0000' | timeago}} • Announcement

Maker of oil & gas drilling equipments $NOV posted loss during 2Q16 due to falling global oilfield spending following the crude oil price bottom seen in Feb. Net loss was $217MM, or $0.58 loss per vs. net income of $289MM or $0.74 per diluted share in 2Q15. Revenues fell 21% to $1.72Bil, hurt by lower revenues in segments.

$NOV {{ '2017-09-15T11:36:06+0000' | timeago}} • Announcement

$NOV appointed Melody B. Meyer to its of BoD's, effective Sept. 15, 2017. This latest appointment brings the number of BoD's to nine, eight of whom are external and independent.

$NOV {{ '2017-08-17T13:10:08+0000' | timeago}} • Announcement

$NOV declared a regular quarterly cash dividend of $0.05 per share of common stock, payable on Sept 29, 2017 to each stockholder of record on Sept 15, 2017.

$FTK {{ '2017-05-24T13:41:47+0000' | timeago}} • Announcement

$FTK closed on the sales of its Drilling Technologies and Production Technologies segments.  As previously disclosed, the Drilling Technologies division has been sold to $NOV for final consideration of $17MM. The Production Technologies segment has been acquired for total consideration of $2.9MM by an undisclosed buyer, as of May 23, 2017.

$NOV {{ '2017-05-22T13:27:31+0000' | timeago}} • Announcement

$NOV entered into a memorandum of understanding with Saudi Aramco to form a joint venture in Saudi Arabia. The JV will manufacture high-specification land rigs, rig and drilling equipment, and offer certain aftermarket services.

$NOV {{ '2017-05-18T12:55:24+0000' | timeago}} • Announcement

$NOV's BoD declared the regular quarterly cash dividend of $0.05 per share of common stock. The dividend is payable on June 30, 2017 to each stockholder of record on June 16, 2017.

$NOV {{ '2017-05-18T12:18:26+0000' | timeago}} • Announcement

$NOV broken ground on two manufacturing plants that will significantly strengthen the company's market-leading positions in providing composite pipe technologies and tubular coatings within Saudi Arabia. Both facilities will be located at MODON 3 near the city of Dammam.

$NOV {{ '2017-04-27T18:40:17+0000' | timeago}} • Webcast

$NOV stated that on inventory it had a draw-down in 1Q17 of about $71MM. The company believes it still has an overly large level of working capital across the company. $NOV looks at working capital is as a percentage of annualized revenue run rate and currently, the company is at about 56% of annualized run rate.

$NOV {{ '2017-04-27T18:31:03+0000' | timeago}} • Webcast

$NOV said that on the land rig new build outlook, the company is continuing to pursue those tenders in the Middle East. Lots of the NOCs in the Gulf States are discussing putting more land rigs to work, which would be a combination of existing rigs and new builds.

$NOV {{ '2017-04-27T14:45:05+0000' | timeago}} • Announcement

In 1Q17, $NOV's Rig Systems segment revenues fell 8% to $393MM. Backlog for capital equipment orders for Rig Systems at March 31, 2017 was $2.32Bil. Rig Aftermarket revenues slid 5% to $321MM. Wellbore Technologies revenues were $555MM, up 5%. Completion and Production Solutions revenues rose 8% to $648MM.

$NOV {{ '2017-04-27T14:39:14+0000' | timeago}} • Announcement

Revenues of $NOV dropped 20% to $1.74Bil in 1Q17, as it posted an increase in net attributable loss of $122MM from last year's $119MM. Net loss was flat at $0.32 per diluted share. Cash flow from operations for the quarter was $111MM. As of March 31, 2017, National Oilwell Varco had $1.48Bil in cash and cash equivalents and total debt of $3.21Bil.

$NOV {{ '2017-02-24T13:44:14+0000' | timeago}} • Announcement

$NOV's BoD declared the regular quarterly cash dividend of $0.05 per share of common stock. The dividend is payable on March 31, 2017 to each stockholder of record on March 17, 2017.

$NOV {{ '2017-02-07T20:17:55+0000' | timeago}} • Webcast

For 1Q17, $NOV expects Rig Systems segment revenues to decline 10-12% as the amount of revenue generated from backlog slows to about $270MM. Rig Aftermarket segment revenue is expected to fall in the mid-single-digit percent range and Completion & Production Solutions segment revenue is projected to increase a couple hundred basis points.

$NOV {{ '2017-02-07T20:11:09+0000' | timeago}} • Webcast

In 4Q16, $NOV benefited from the rising momentum in North American shale plays, which the company expects to accelerate. International markets are expected to face headwinds for one or two quarters and offshore markets are expected to trend down.

$NOV {{ '2017-02-07T11:49:16+0000' | timeago}} • Announcement

$NOV reported a narrower 4Q16 loss driven by last year's goodwill and intangible asset impairment charges. Net loss narrowed to $714MM or $1.90 per share from $1.52Bil or $4.06 per share last year. Revenue dropped to $1.69Bil from $2.72Bil. Adjusted loss per share was $0.15 compared to a EPS of $0.23 a year ago.

$NOV {{ '2016-12-22T12:25:24+0000' | timeago}} • Announcement

$NOV to expand the operations of its Fiber Glass Systems business unit with a new composite pipe manufacturing facility located near the city of Dammam, Saudi Arabia. Operations are expected to begin in 1Q18.

$NOV {{ '2016-12-20T14:18:24+0000' | timeago}} • Announcement

$NOV said it completed its previously announced acquisition of Fjords Processing, a global leader in the provision of processing technology, systems and services to the upstream oil and gas industry.

$NOV {{ '2016-11-17T15:14:58+0000' | timeago}} • Announcement

$NOV's BoD declared regular quarterly cash dividend of $0.05 per share of its common stock. The dividend is payable on Dec. 16, 2016 to stockholders of record on Dec. 2, 2016.

$NOV {{ '2016-10-28T16:58:21+0000' | timeago}} • Webcast

$NOV said its outlook for land rigs demand is much brighter as it has several inquiries for new land rigs in North America and numerous tenders in the international markets. The company believes 2017 will see meaningful resumption in demand for land equipment.

$NOV {{ '2016-10-28T16:51:14+0000' | timeago}} • Webcast

$NOV said it is on track to obtain $3.1Bil in annual structural contractor and workforce cost reductions by year-end. The company has nevertheless been forced to cut workforce 43% from peak levels and is closing 286 facilities globally.

$NOV {{ '2016-10-28T16:38:33+0000' | timeago}} • Webcast

During 3Q16, $NOV began to see some improved demand in certain of its businesses, mostly North America, where the rig count grew 28% sequentially. The company posted top line growth in its wellbore technologies and completion and production solutions segments. $NOV also saw its cost reductions begin to outpace the steep declines in revenues.

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