NOV sets date for 1Q earnings report

 

National Oilwell Varco plans to release its first quarter 2021 financial earnings report in April.

The Houston-based company said the results will be made public after the market closes for trading on Tuesday, April 27. A conference call to be held by NOV executives will be held the next day, Wednesday April 28 at 10 a.m. Central Time.

In early February, NOV reported a 4% drop in fourth quarter revenues which totaled $1.33 billion compared to the third quarter 2020 but a 42% fall compared to the fourth quarter of 2019.

The net loss for the fourth quarter 2020 totaled $347 million or a minus-26% of sales. The net loss for the full year was $2.43 billion.

During the fourth quarter, the company recognized $236 million in restructuring charges and had total debt of $1.83 billion.

 

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