NOV Q1 net income falls to $19 million, revenue down 2% on Middle East disruptions
NOV reported first-quarter 2026 revenue of $2.05 billion, down 2% from a year earlier, and net income of $19 million, or $0.05 per diluted share, versus $73 million, or $0.19, in the first quarter of 2025. The company estimated the Middle East conflict reduced revenue by $54 million and Adjusted EBITDA by $32 million, and guided to second-quarter revenue down 4% to 6% year over year and Adjusted EBITDA of $185 million to $215 million.
Key points
- Revenue of $2.05 billion, down 2% year over year; Energy Products and Services revenue fell 10% to $897 million
- Net income of $19 million, or $0.05 per diluted share, compared with $73 million, or $0.19, a year earlier
- Adjusted EBITDA of $177 million, down from $252 million; the Middle East impact was estimated at $32 million
- Second-quarter 2026 outlook: revenue down 4% to 6% year over year; Adjusted EBITDA of $185 million to $215 million
The filing
Written by AI on Nov 8, 2026, 12:58 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.