NOV Q3 Sales $2.19B Miss $2.23B Estimate
Portfolio Pulse from Benzinga Newsdesk
NOV reported Q3 sales of $2.19 billion, missing the analyst consensus estimate of $2.23 billion by 1.63%. This represents a slight increase of 0.27% over the same period last year.
October 24, 2024 | 9:46 pm
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NEGATIVE IMPACT
NOV's Q3 sales of $2.19 billion missed the analyst estimate of $2.23 billion, indicating a potential negative short-term impact on the stock price.
The sales miss against analyst expectations suggests potential investor disappointment, which could lead to a short-term decline in NOV's stock price. The slight year-over-year increase is unlikely to offset the negative sentiment from missing estimates.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100