NOV Inc. Q2 2026 Earnings Release

NOV Inc. reported second quarter 2026 revenues of $2.13 billion, a 4% increase sequentially and a 2% decrease year-over-year. Net income was $112 million, or $0.31 per share, an increase from the previous quarter and year-over-year. Adjusted EBITDA was $283 million, up $31 million year-over-year, benefiting from approximately $40 million related to tariff refunds. The company returned $127 million in capital to shareholders through share repurchases and dividends. Bookings were $474 million, resulting in a book-to-bill ratio of 74%. The Energy Equipment segment revenue increased 1% year-over-year to $1.22 billion, with Adjusted EBITDA of $200 million. The Energy Products and Services segment revenue decreased 5% year-over-year to $974 million, with Adjusted EBITDA of $144 million. For the third quarter of 2026, NOV expects consolidated revenues to be flat to up 2% year-over-year, with Adjusted EBITDA between $240 million and $270 million. The company ended the quarter with $1,164 million in cash and cash equivalents and $1,706 million in total debt.