| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 2.1K | 4.0% | 2.5% |
| Total Income | 2.1K | 4.0% | 2.5% |
| Expenditure | 1.9K | 3.2% | 5.1% |
| PBT | 157.00 | 348.6% | 36.5% |
| Net Profit | 112.00 | 489.5% | 3.7% |
| OPM | 9.04% | 6.75pp | 2.51pp |
| NPM | 5.25% | 4.32pp | 0.31pp |
| EPS | 0.31 | 520.0% | 6.9% |
NOV Inc. Reports Q2 2026 Earnings of $2.13 Billion Revenue
29 Jul 2026 · 29 Jul, 6:42 pm
Summary
NOV Inc. reported second quarter 2026 revenues of $2.13 billion, down 2% year-over-year but up 4% sequentially. Net income rose to $112 million, and operating profit increased 35% year-over-year to $193 million. Adjusted EBITDA was $283 million, up $31 million year-over-year, benefiting from approximately $40 million in tariff refunds. Management expressed encouragement regarding improving industry fundamentals and a growing pipeline of opportunities, anticipating a synchronized global recovery that should drive demand for NOV's technology and equipment over the next several years.
Key Highlights
- 1
NOV Inc. reported second quarter 2026 revenues of $2.13 billion, a decrease of two percent compared to the second quarter of 2025.
- 2
Net income for the second quarter of 2026 increased $4 million year-over-year to $112 million, or $0.31 per diluted share.
- 3
Operating profit was $193 million, or 9.0 percent of sales, an increase of 35 percent versus the second quarter of 2025.
- 4
Adjusted EBITDA increased $31 million year-over-year to $283 million, or 13.3 percent of sales, including a benefit of approximately $40 million related to tariff refunds.
- 5
Bookings for the second quarter were $474 million, representing a book-to-bill ratio of 74%.
- 6
The company returned $127 million of capital to shareholders through share repurchases and dividends in the second quarter.
Management Comments
Jose Bayardo
NOV’s second quarter results reflect outstanding execution by our team in a market that is demonstrating significantly improved underlying industry fundamentals. During the second quarter, we were better able to navigate the continued logistical challenges in the Middle East, while our businesses benefited from improving demand in most major regions. While recent price volatility and geopolitical uncertainty continue to cause temporary disruptions and project deferrals, we are encouraged by a growing pipeline of capital equipment opportunities and improving short cycle activity across most markets. Additionally, it is becoming increasingly apparent that depleting inventories and significantly heightened focus on energy security, combined with a decade of constrained investments in the industry’s asset base, is starting a synchronized global recovery that should drive meaningful demand for NOV’s technology and equipment over the next several years. We believe the actions our organization is taking, including continued investment in the development of superior solutions for our customers and initiatives to drive efficiencies across our operations, position NOV to demonstrate meaningfully higher earnings over the coming years.
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