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

Aktier/tendens: Vestas kan komme i fokus i lysegrønt marked

29-03-2017 08:44:42
En større amerikansk satsning på olie og kul kan sætte Vestas i fokus fra morgenstunden, i et marked der ser ud til at åbne i plus.Præsident Donald Trump underskrev tirsdag et dekret om at tilbagerulle centrale dele af sin forgængers, Barack Obamas, klimalovgivning. Og Trump vil blandt andet fjerne et af Obamas tiltag, Clean Power Plan, fordi det ifølge dem er en hindring for olieboring og kulmine..

Første 20.000 teu-containerskib er sat i søen

28-03-2017 16:18:00
Det første containerskib, der officielt har brudt grænsen på 20.000 tyvefodscontainere (teu) i kapacitet, er nu i søen.Det blev det japanske rederi Mitsui OSK Lines, også kaldet MOL, der tog titlen med skibet MOL Triumph.Skibet har en officiel kapacitet på 20.170 teu og er det første i en serie af seks skibe på samme størrelse, som sydkoreanske Samsung Heavy Industries bygger for MOL.Containerskib..

Mærsk/Snabe: Stolt af og ydmyg over for opgaven

28-03-2017 12:38:10
Jim Hagemann Snabe, ny bestyrelsesformand for A.P. Møller-Mærsk, træder til opgaven med stolthed og ydmyghed. Det siger han selv fra talerstolen på selskabets generalforsamling tirsdag, hvor han overtager formandsrollen fra Michael Pram Rasmussen.- Jeg er glad for den tillid bestyrelsen og hovedaktionæren har vist ved at udtrykke opbakning til mig som ny bestyrelsesformand. Jeg er stolt over men o..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Bilforhandler glæder sig til ny model: Det bliver en storsællert
2
Økonom: Frygtens indeks i bund - mulig bølgegang forude
3
Første 20.000 teu-containerskib er sat i søen
4
Genmab/fmd: Egen salgsstyrke er et realistisk mål
5
Genmab/CEO: Priserne på kræftmidler vil komme under pres

Relaterede aktiekurser

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2017  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
29. marts 2017 09:24:26
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20170324.2 - EUROWEB3 - 2017-03-29 09:24:26 - 2017-03-29 09:24:26 - 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