National Oilwell Varco, Inc. (NOV) said it earned net income of $502 million, or $1.17 per share in the first quarter, compared with last year's $606 million, or $1.42 per share. The recent quarter results included transaction costs mainly related to the Robbins & Myers acquisition and Venezuela currency devaluation charges, which combined for a total of $73 million in pre-tax costs and charges.
Excluding these costs and charges, earnings totaled $553 million, or $1.29 per share. On average, 31 analysts polled by Thomson Reuters expected earnings per share of $1.36 for the quarter. Analysts' estimates typically exclude one-time items.
However, total revenue for the recent period was $5.31 billion, a 23 percent increase from $4.30 billion in the first quarter of 2012. Analysts estimated revenues of $5.38 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.