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What Wall Street Analysts Expect from NOV’s 4Q17 Earnings

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NOV’s 4Q17 earnings estimates

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NOV’s earnings versus estimates

National Oilwell Varco’s adjusted earnings per share (or EPS) beat analysts’ consensus EPS in 3Q17. On average, NOV’s adjusted EPS exceeded consensus EPS by ~9% in the past 13 quarters. From 3Q16 through 3Q17, NOV cut its adjusted loss significantly. NOV is 5.6% of the iShares US Oil Equipment & Services ETF (IEZ). Since September 29, IEZ has increased 10%, compared to a 6% rise in NOV’s stock price. NOV is also 0.06% of the SPDR S&P 500 ETF (SPY). The S&P 500 Index (SPX-INDEX) increased 11% since September 29—the last trading day of NOV’s 3Q17 fiscal quarter.

Read more about NOV in Market Realist’s What Are National Oilwell Varco’s Challenges and Opportunities?.

NOV’s 4Q17 revenue estimates

Wall Street analysts expect National Oilwell Varco to post $1.94 billion in revenues in 4Q17, which would be 6% higher compared to its 3Q17 revenues.

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Analysts’ estimates for NOV’s peers

Wall Street analysts expect Oceaneering International (OII), NOV’s smaller-market-cap peer, to see steeply higher losses in 4Q17 compared to its 3Q17 adjusted loss. Analysts expect TechnipFMC’s (FTI) 4Q17 adjusted earnings to improve 12% from the 3Q17 adjusted earnings. Wall Street analysts expect Helmerich & Payne’s (HP) 4Q17 adjusted loss to reduce compared to its 3Q17 adjusted loss of $0.14 per share.

Series highlight

In this series, we’ll look at NOV’s 3Q17 value drivers, what indicators are suggesting for NOV, and Wall Street analysts’ recommendations. We’ll start with NOV’s management estimates in 4Q17 in the next part of this series.

Next, we’ll discuss how NOV’s management outlook played out in past quarters.

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