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March 12, 2014
07:01 EDTNOVNational Oilwell to reorganize into four financial reporting segments
National Oilwell Varco will reorganize into four financial reporting segments. The new segments will be Rig Systems, Rig Aftermarket, Completion & Production Solutions, and Wellbore Technologies. This reorganization will be effective April 1. The company’s Rig Systems group will continue to focus on designing and manufacturing discrete drilling equipment components, as well as building complete integrated drilling equipment packages for both land and offshore applications. The company’s Rig Aftermarket group will consist of the consumables, spares and service required to maintain the equipment components and packages for the useful lives of the assets. The Completion & Production Solutions group will focus on improving wellbore completions, and oil and gas production technologies. The company’s Wellbore Technologies business group will direct its attention to enhancing drilling performance at the rig, both land and offshore. The company intends to issue historical financial results for these four new reporting segments during the second quarter of 2014, sometime after it makes its previously announced first quarter earnings release. The company will also continue to report the results of its Distribution business group until the completion of the previously announced spinoff of that business as a separately traded public company.
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October 30, 2014
07:18 EDTNOVNational Oilwell reports Q3 EPS $1.76 ex-items, consensus $1.53
Reports Q3 revenue $5.59B, consensus $5.48B. Ending backlog for the third quarter of 2014 was $14.34 billion for the Company’s Rig Systems segment and $2.09 billion for the Company’s Completion & Production Solutions segment.
October 29, 2014
15:41 EDTNOVNotable companies reporting before tomorrow's open
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