NOV · NOV Inc.

NOV Inc. disclosed preliminary unaudited financial results for the first quarter of 2026, indicating a significant shortfall relative to prior guidance due to operational disruptions from the Middle East conflict. The company expects revenue of $2.05 billion, operating profit of $47 million, and Adjusted EBITDA of $177 million. Management attributed the underperformance primarily to safety and logistical challenges in the region, which adversely impacted revenue by an estimated $54 million and Adjusted EBITDA by approximately $32 million. These challenges disproportionately affected quarter-end deliveries of capital equipment and products, including spare parts, while service-oriented offerings were less impacted. Additionally, higher shipping and freight costs, combined with reduced absorption in manufacturing facilities, further pressured margins. Despite the disruptions, the company reported that its facilities in the region have not been damaged, and it is actively managing the situation with a focus on team safety, customer support, and cost mitigation. Management expressed confidence in navigating near-term volatility and noted that business remains solid outside the Middle East. They also suggested that the conflict could accelerate projects promoting energy security and diversification over the mid-to-longer term. The company is finalizing its financial close and will provide complete results on April 27, 2026, followed by a conference call on April 28, 2026. The preliminary figures are based on current information and management assumptions, subject to adjustment during finalization.