NOV Expects Q4 Consolidated Revenues To Be Down 3% - 5% Y/Y With Adjusted EBITDA Of $280M - $300M
Portfolio Pulse from Benzinga Newsdesk
NOV anticipates a 3% to 5% year-over-year decline in Q4 consolidated revenues, with adjusted EBITDA projected between $280 million and $300 million.
October 24, 2024 | 9:50 pm
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NEGATIVE IMPACT
NOV projects a 3% to 5% decrease in Q4 revenues compared to the previous year, with adjusted EBITDA expected to range from $280 million to $300 million.
The anticipated decline in revenues suggests potential challenges in NOV's business operations or market conditions, which could negatively impact investor sentiment and the stock price in the short term. The adjusted EBITDA range provides some insight into profitability, but the overall revenue decline is likely to weigh more heavily on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100