NOV Inc. Reports Q3 2026 Revenue Growth Amid Middle East Logistical Challenges
NOV Inc. (NOV) reported third-quarter revenue of $2.23 billion, marking a 4% sequential and 2% year-over-year increase. The company saw significant strength in its Energy Products and Services segment, which grew 9% to $1.06 billion, and experienced double-digit growth in Argentina driven by Vaca Muerta developments. Despite these gains, the company faced headwinds including a 20% rise in freight costs and logistical disruptions due to deteriorating maritime security in the Middle East. Looking ahead, NOV provided Q4 guidance forecasting adjusted EBITDA between $260 million and $300 million with relatively flat year-over-year revenue. While deepwater activity is accelerating—with offshore floater rates approaching $500,000 per day—management expects Middle East activity to moderate through the end of the year as customers adjust drilling programs in response to regional tensions.
Tickers: $NOV
Topics: Backlog EBITDA Energy Sector Guidance Net Income Revenue Growth