NOV Inc

NOV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$15.00	Nbcjw	Fjzyqcxm

NOV Earnings: International Markets Remain Key Driver Amid a Slow North America Market

Stephen Ellis , Samuel Siampaus

Apr 26, 2024

NOV delivered solid 2024 first-quarter results as international markets outweighed a tepid North America business, a trend we expect to continue through 2024. Yet, both revenue and EBITDA figures came in significantly higher year over year, with revenue up 11% while EBITDA grew nearly 24%. After incorporating the quarterly results, we maintain our $22 fair value estimate and no-moat rating.

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