NOV Inc.(NOV), an oil field service provider, said on Wednesday that it now expects first-quarter results below earlier guidance, due to operational disruptions as a result of persisting Middle East conflict.
Jose Bayardo, CEO of NOV, said: "The conflict in the Middle East created significant safety and logistical challenges during the first quarter, which adversely impacted revenue by an estimated $54 million and adjusted EBITDA by approximately $32 million."
For the first quarter of 2026, the company now expects an operating profit of $47 million, with an adjusted EBITDA of $177 million, on revenue of $2.05 billion.
Earlier, NOV had projected adjusted EBITDA of $200 million to $225 million, with a 1% to 3% decline in revenue.
For the first quarter of 2025, the company had recorded an operating profit of $152 million, with adjusted EBITDA of $252 million, on revenue of $2.103 billion.
NOV will release its first quarter earnings report on April 27.
NOV was down by 0.47% at $19.01 in the pre-market trade on the New York Stock Exchange.
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Business News
April 10, 2026 16:21 ET Inflation data from the U.S. was the main data event this week as the conflict in the Middle East continue. The minutes of the latest Fed policy session and the survey data on the services sector also made headlines. In Europe, manufacturing orders data from Germany was in focus. Price data from China drew attention in Asia.