NOV Reports Fourth Quarter and Full-Year 2025 Earnings

Impact · against what's priced in

NOV's outlook is bearish in the near term as the company forecasts flat to slightly declining EBITDA for 2026 due to an oversupplied oil market. While strong free cash flow generation provides a financial cushion, the stagnant revenue and downward guidance for Q1 2026 create a lack of immediate catalysts.

NOV−0.40

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In context

Consolidated revenues fell 1% to $8.74 billion for the full year, and management expects 2026 EBITDA to be in-line to slightly lower than 2025 levels, citing an oversupplied oil market and customer caution.

Read from the article alone

• offshore drilling▲300%
• guidance▲23%
• earnings▲7%
• oil
• inflation
• NOV
• energy equipment