25 apr: Caterpillar opjusterer forventningerne
25 apr: Boeing dropper balasten og letter
25-04-2012 13:40:00

National Oilwell 1Q Net Jumps 49% As Field Activity Ramps Up

Relateret indhold

DOW JONES NEWSWIRES

National Oilwell Varco Inc.'s (NOV) first-quarter earnings rose a stronger-than-expected 49% on broad growth in all the company's main business segments.

The company's earnings have surged over the past year as oil-and-gas producers boost their capital expenditures, often spending heavily on complex equipment that can extract harder-to-reach reserves through unconventional means like hydraulic fracturing and horizontal drilling.

Producers are now poised to move much of their spending in North America to areas that yield more oil and natural-gas liquids instead of cheap natural gas--a shift that could generate yet more demand for National Oilwell's products.

Chairman and Chief Executive Pete Miller said the company's petroleum services and supplies unit performed "exceptionally well" in the latest quarter as high levels of oilfield activity spurred demand across the company's businesses.

The company has grown to be become the sector's dominant equipment maker through mergers, including a deal for NKT Flexibles, a joint venture between NKT Holding A/S (NKT.KO) and Norwegian Subsea 7 SA (SUBC.OS) valued at about $672.6 million when it was disclosed in February.

National Oilwell this month unveiled yet another acquisition, agreeing to buy Schlumberger Ltd.'s (SLB) Wilson business, which distributes pipe, valves and other products to the oil patch. Terms of that deal, which will vastly expand National Oilwell's footprint, were not disclosed.

National Oilwell reported a profit of $606 million, or $1.42 a share, up from $407 million, or 96 cents a share, a year earlier. Excluding transactions costs and other adjustments, per-share earnings rose to $1.44 from $1 as revenue surged 37% to $4.3 billion.

Analysts polled by Thomson Reuters were expecting a $1.39 per-share profit on $4.3 billion of revenue.

Gross margin narrowed to 29.5% from 31.6%.

Backlog at the company's rig-technology business reached $10.36 billion as of March 31, up from $10.16 billion at the end of December. New orders in the segment, National Oilwell's largest, rose to $1.91 billion, a 15% increase from its $1.67 billion level a quarter earlier.

Revenue in the rig technology segment jumped 40% from a year ago, while the petroleum services and supplies unit generated 35% higher revenue. Sales from the distribution and transmission segment rose 38%.

Shares closed at $78.02 Tuesday and were inactive premarket. The stock has climbed 15% so far this year.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com

(END) Dow Jones Newswires

April 25, 2012 07:40 ET (11:40 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

OVERBLIK FLS: Service lyser op i en meget, meget mørk tid

11-02-2016 16:10:04
I det mørke, som ingeniørkoncernen FLSmidths aktuelt er indhyldet i på mine- og cementmarkedet er det serviceforretningen i divisionerne Product Companies og Cu..

Topdk Q4: Vejrligsskader overrasker og skuffer analytikerne

11-02-2016 12:41:58
Forsikringskoncernen Topdanmark kom ud af fjerde kvartal sidste år med et nettooverskud på 278 mio. kr., hvilket var ringere end analytikernes forventninger.Ifø..

Mærsk/Jyske: Skærer i kursmål efter regnskab - NY

11-02-2016 10:40:38
Jyske Bank har været inde og se på de langsigtede forventningerne til aktien i A.P. Møller-Mærsk, og det får nu banken til at skære 1000 kr. af kursmålet til 90..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Novo A/S/bestyrelsesformand: Kolding er fyret
2
Globale aktiemarkeder i selvforstærkende negativ spiral
3
Tyskland/Nykredit: Tysk økonomi bliver gyser i 2016
4
Aktier/tendens: GN tager fokus på dag med udsigt til stigninger
5
Vestas: Vinder 200 MW-ordre til projekt i USA

Relaterede aktiekurser

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2016  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
13. februar 2016 07:50:21
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20160212.1 - EUROWEB3 - 2016-02-13 07:50:21 - 2016-02-13 07:50:21 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x