National Oilwell Varco, Inc. (NOV) reported fourth-quarter net income of $668 million, or $1.56 per share compared to $574 million or $1.35 last year. Excluding $51 million in pre-tax transaction charges and a net $69 million tax benefit related to certain U.S. foreign tax credits, net income was $638 million, or $1.49 per share. The net $69 million tax benefit resulted from a strategic reorganization of certain foreign operations to more fully integrate recently acquired business groups.
On average, 28 analysts polled by Thomson Reuters expected the company to report profit of $1.44 per share for the quarter. Analsyts' estimates typically exclude special items.
Total revenue increased to $5.68 billion from $4.26 billion last year. Analysts expected revenue of $5.30 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.