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BRIEF-Nov Inc Sees Q1 Revenue $1.2 Bln To $1.25 Bln

· 03/16/2021 06:40
BRIEF-Nov Inc Sees Q1 Revenue $1.2 Bln To $1.25 Bln

- Nov Inc NOV.N:

  • SEES Q1 REVENUE $1.2 BILLION TO $1.25 BILLION

  • SEVERE WEATHER IN TEXAS AND OKLAHOMA DURING FEBRUARY ADVERSELY AFFECTED FINANCIAL RESULTS OF ALL THREE SEGMENTS

  • NATIONAL OILWELL - EXPECTS OPERATIONAL DISRUPTIONS, SOFTER-THAN-ANTICIPATED ORDERS WILL CAUSE Q1 OPERATING RESULTS TO FALL BELOW PRIOR GUIDANCE

  • COMPLETION & PRODUCTION SOLUTIONS AND RIG TECHNOLOGIES SEGMENTS WERE IMPACTED BY CERTAIN PROJECT DELAYS, AMONG OTHERS

  • EXPECT PROSPECTS FOR BUSINESS TO IMPROVE THROUGH REMAINDER OF YEAR

  • NATIONAL OILWELL VARCO - COMPLETION & PRODUCTION SOLUTIONS AND RIG TECHNOLOGIES SEGMENTS WERE IMPACTED BY COVID-19 SHUTDOWNS IN SOUTHEAST ASIA

  • NATIONAL OILWELL VARCO - COMPLETION & PRODUCTION SOLUTIONS AND RIG TECHNOLOGIES SEGMENTS WERE IMPACTED BY ACUTE GLOBAL GLASS FIBER SUPPLY SHORTAGE

  • SEES Q1 ADJUSTED EBITDA LOSS OF $15 MILLION TO $25 MILLION

  • Q1 REVENUE VIEW $1.32 BILLION -- REFINITIV IBES DATA

Source text for Eikon: ID:nBw1lLXBna

Further company coverage: NOV.N


((Reuters.Briefs@thomsonreuters.com;))