NOV Q2 revenue fell 2% to $2.13 billion; net income rose to $112 million
NOV reported second-quarter 2026 revenue of $2.13 billion, down 2% from a year earlier but up 4% from the first quarter, and net income of $112 million, or $0.31 per diluted share, up $4 million year-over-year. The results include a benefit of about $40 million related to tariff refunds, and management expects third-quarter revenue flat to up 2% year-over-year with Adjusted EBITDA of $240 million to $270 million, compared with $283 million in the second quarter. Lower revenue alongside slightly higher profit makes the results mixed for shareholders.
Key points
- Revenue of $2.13 billion, down 2% year-over-year and up 4% sequentially
- Net income of $112 million, or $0.31 per diluted share, up $4 million year-over-year
- Adjusted EBITDA of $283 million, up $31 million year-over-year, including about $40 million tariff refund benefit
- Third-quarter 2026 guidance: revenue flat to up 2% year-over-year; Adjusted EBITDA $240 million to $270 million
The filing
Written by AI on Nov 8, 2026, 12:59 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 July 29, 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.