Nov Inc.: Q1 Earnings Snapshot
yesterday
HOUSTON (AP) _ NOV Inc. (NOV) on Tuesday reported a loss of $115 million in its first quarter.
On a per-share basis, the Houston-based company said it had a loss of 30 cents. Losses, adjusted for restructuring costs, came to 28 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.
The oil and gas industry supplier posted revenue of $1.25 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $1.23 billion.
Nov Inc. shares have dropped 1% since the beginning of the year, while the S&P’s 500 index has climbed 11%. In the final minutes of trading on Tuesday, shares hit $13.58, an increase of 10% in the last 12 months.