Investing.com - National Oilwell Varco (NYSE:NOV) reported on Monday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
National Oilwell Varco announced earnings per share of $-0.47 on revenue of $1.88B. Analysts polled by Investing.com anticipated EPS of $0.09 on revenue of $1.94B. That with comparison to EPS of $-0.17 on revenue of $1.94B in the same period a year before. National Oilwell Varco had reported EPS of $0.28 on revenue of $2.28B in the previous quarter. Analysts are expecting EPS of $-0.03 and revenue of $1.72B in the upcoming quarter.
National Oilwell Varco shares are down 50% from the beginning of the year , still down 56.00% from its 52 week high of $28.07 set on April 29, 2019. They are under-performing the S&P 500 which is down 11.29% year to date.
National Oilwell Varco follows other major Energy sector earnings this month
National Oilwell Varco's report follows an earnings missed by ENI ADR on Friday, who reported EPS of $0.04 on revenue of $15.04B, compared to forecasts EPS of $0.17 on revenue of $14.45B.
Schlumberger had matched expectations on April 17 with first quarter EPS of $0.25 on revenue of $7.46B, compared to forecast for EPS of $0.25 on revenue of $7.53B.
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