NOV down after Q1 outlook cut on Middle East disruptions

NOV

15/04/2026 13:24

** Shares of NOV NOV.N falls 2.8% to $18.55 premarket

** The oilfield services provider says operational disruptions from the war in the Middle East will drag its Q1 revenue and earnings below its prior outlook

** NOV estimates the conflict reduced revenue by around $54 million and adjusted EBITDA by about $32 million.

** Expects to report revenue of $2.05 billion, operating profit of $47 million and adjusted EBITDA of $177 million.

** Firm had previously forecast adjusted EBITDA of $200 million-$225 million and expected revenue to decline 1%-3% from a year earlier.

** As of last close, shares are up 22.2% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((katha.kalia@thomsonreuters.com))