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Actionable news in NOV: NATIONAL OILWELL VARCO Inc,

Negative EBITDA Could Sink National Oilwell Varco

Summary

NOV reports Q2 earnings Thursday.

Last quarter NOV took a $2.1B hit to its Petrobras-related backlog.

A JP Morgan analyst believes more contract cancellations could follow.

Q1 EBITDA margin was 6%. I project that another double digit decline in revenue could cause EBITDA to turn negative.

Avoid NOV.

National Oilwell Varco (NYSE:NOV) reports Q2 earnings Thursday. Analysts expect revenue of $1.79 billion and eps of -$0.32. Estimates imply an 18% sequential decline in revenue. Investors should focus on...


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