NOV will report yet another losing quarter on 7/27. Going on 10 straight years of operating at a loss. How can this be?
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And yet we are still in business and you are still drawing a paycheck. What's that? You don't like the money? Then move on, simple as that!!
Weak shareholders and board.
They allow it to continue
@2jyf+1hQfZnes Yes, it will take years to turn the ship. But the current management team needs to leave now ...the longer they are left in place the longer it will take to turn is all around
People keep asking for Clay & management team to leave but fail to recognize that this team has fukd up NOV so much that any new team will have a uphill battle trying to fix us, it'll take years!
Clay & management team, please resign and leave it to another team who can steer the ship. You have taken it as far as it can go. You have made yourself millions. Please leave now.
The hapless CEO has no clue to run Energy Transition. The whole world suffers from Climate Change that contributes to extreme weathers, diseases, food/water/air shortages. Population growth is the only way the Rich can sustain, while the Earth is unsustainable for every other living being. It was a great opportunity to strike the mallet, when there was sense of realization and recognition even from Big Oil investing in renewables and nuclear fusion. But, our dear old CEO still bets on fossil fuel. They keep blaming on "cyclical business model". Oil Cycles used to be decades long. Now it is shorter than an Tiktok video.
That's an easy answer: How can this be? One word or is it two: Head Winds! Decade and 40 quarters worth of headwinds.
Agree. Inflation, supply chain and other head wind.
BooHoo
The answer is a simple no-brainer.
You have a worthless CEO that has been a loser since he took over, turning the company into a non-profit organization. You have a leadership team that has individuals like the CTO/CMO doing absolutely nothing to better the company, who cares more about his Red Moranic side gig than anything else. You have Presidents of Business units who are just atrocious at having an actual strategy and execution for business plans. And last but not least you have employees who are not motivated. Who care more about gossiping then actually making the company what it was once. PROFITABLE and FUN