‘Capital Austerity’ in Ofshore, Onshore Creating Near-Term Uncertainty, Says NOV CEO

摘要

Houston-based National Oilwell Varco Inc. (NOV), which provides oilfeld tech- nology for onshore and ofshore customers, said customers spent less than expected during the frst quarter, with orders for new equipment sparse. Revenue during 1Q2019 increased 8% year/year, but it was down 19% sequentially at $1.94 billion. Quarterly losses totaled $77 million (minus 20 cents/share), versus a year-ago loss of $68 million (minus 18 cents).