Earnings Report: National Oilwell Varco Bested Q2 EPS Estimates (NOV)

- 7/29/2010 7:38:56 AM
7/29/2010- National Oilwell Varco (NYSE:NOV) reported Q2 EPS of $0.97, ex-items, ahead of consensus estimates of $0.93. Revenues fell 2.3% year-over-year to $2.94 billion, missing consensus estimates of $2.95 billion.

Pete Miller, Chairman, President and CEO of National Oilwell Varco, remarked, "Our Company achieved solid earnings this quarter, thanks to the hard work of our dedicated employees, who provide great service, quality products, and remarkable technology to the oil and gas industry worldwide, every day. Strategically we continue to position our organization to bridge this industry's transition to new and exciting frontiers - namely, the development of unconventional resources across many continents, the production of new deepwater resources, and the application of new and better technology to make our business safer, more efficient, and more environmentally sound."

SmarTrend currently has National Oilwell Varco in an Uptrend and is currently monitoring these developments and will alert subscribers to any change of trend.

Category:

News & Politics

Tags:

• NOV
• National
• Oilwell
• Varco
• Q2
• smartrend
• trade
• the
• trend
• stock
• market
• news