NOV Inc. ( (NOV) ) has released its Q4 earnings. Here is a breakdown of the information NOV Inc. presented to its investors.
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NOV Inc. is a technology-driven company that provides innovative solutions for the global energy industry, specializing in oilfield equipment and services to improve sustainability and operational efficiency.
In its latest earnings report, NOV Inc. reported a fourth-quarter net income of $160 million and a full-year net income of $635 million, noting a solid performance despite a challenging market environment. The company highlighted its growing backlog and strategic advancements in new technologies as key factors in its financial outcomes.
The company saw a slight decline in revenues for the fourth quarter compared to the previous year but managed to increase its operating profit by 29% to $207 million. For the full-year 2024, NOV recorded revenues of $8.87 billion, a 3% increase from 2023, and an 11% increase in Adjusted EBITDA to $1.11 billion. The company also returned $337 million to shareholders through dividends and stock buybacks.
Looking ahead, NOV Inc. anticipates a challenging macro environment in 2025 with geopolitical uncertainties impacting industry activity. However, management remains optimistic, expecting continued profitability improvements and healthy cash flow generation driven by a growing backlog and market adoption of its advanced technologies.
