Equity Profile

NOV

NOV Inc.

EnergyOil & Gas Equipment & Services$7.2B

Jul28Tue

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

NOV Inc. is a key player in the energy sector, focusing on oil and gas equipment and services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical indicator of the company's profitability and performance relative to analyst expectations.

N/A

Revenue Growth

Revenue growth will help assess how well NOV is capturing market demand in the oil and gas sector.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NOV Q2-2026 Earnings Preview

Context

Company Snapshot

NOV Inc. is a key player in the energy sector, focusing on oil and gas equipment and services. With a market cap of $7 billion, the company plays a vital role in supporting the energy industry, which is currently navigating challenges related to supply, demand, and sustainability.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-33.61%

Avg Stock Reaction

+1.30%

Last Quarter Recap

In Q1 2026, NOV reported an EPS of $0.05, falling short of the expected $0.17, marking a significant negative surprise. The stock reacted positively the next day, gaining 1.56% despite the disappointing earnings.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations for NOV's upcoming earnings are cautious, given the recent earnings misses and lack of guidance. Investors are closely watching for any signs of recovery in profitability and revenue.

Bull Case

If NOV can demonstrate improved earnings and revenue growth, it could signal a recovery in the energy sector, leading to increased investor confidence and stock appreciation.

Bear Case

Conversely, if NOV continues to miss earnings expectations, it may indicate deeper issues within the company or the industry, potentially leading to a further decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

The EPS figure will be crucial in determining whether NOV can turn around its recent performance and meet or exceed market expectations.

How does NOV plan to address revenue growth challenges?

Insights into revenue strategies will indicate the company's approach to navigating current market conditions and its potential for future growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating NOV's potential for a rebound, particularly in light of recent operational adjustments that could lead to improved margins.

Supporting Evidence

Options are pricing a 14.96% move, suggesting the market anticipates significant volatility that may not materialize.

The company's history of recovering from earnings misses indicates potential for a positive surprise.

Recent trends in oil prices could provide a favorable backdrop for revenue growth.

Key Risk

If EPS exceeds $0.20, it could challenge the prevailing bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around NOV's ability to recover from recent earnings misses and demonstrate sustainable growth.

Bull Confirmed If

An EPS of $0.20 or higher would confirm a positive turnaround in performance.

Bear Confirmed If

An EPS below $0.05 would reinforce concerns about ongoing profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±14.96%

Historical Avg

±1.5%

Pricing rich

The options market is pricing in a significant potential move following the earnings report, suggesting heightened uncertainty among investors.

Options are pricing ±15.0% while NOV has averaged ±1.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

32.8%

Calls (14K)P/C Ratio: 0.01Puts (4K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich setup in Energy

n=30

Fade rate: 17 of 29 (59%)

This setup has occurred 30 times across Energy in the last 2 years. 17 of 29 faded and 12 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 3.5%, with a raw directional average of -0.0% (roughly flat historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NOV beats expectations, history suggests a potential stock increase of around +2.17%, confirming a recovery narrative.

In-Line / Cautious

An in-line report may lead to a muted reaction, as the market assesses management's commentary for future guidance.

Miss

A miss could result in a decline, with historical data indicating an average drop of around +1.02% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost-cutting measures and their impact on margins.
2Details on new contracts or projects that could drive revenue.
3Management's outlook on oil market conditions and pricing.
4Insights into operational efficiencies and productivity improvements.
5Any commentary on competitive positioning within the energy sector.

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AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

NOV Inc. is a key player in the energy sector, focusing on oil and gas equipment and services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a critical indicator of the company's profitability and performance relative to analyst expectations.

N/A

Revenue Growth

Revenue growth will help assess how well NOV is capturing market demand in the oil and gas sector.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NOV Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

25%

Avg EPS Surprise

-33.61%

Avg Stock Reaction

+1.30%

Last Quarter Recap

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If NOV can demonstrate improved earnings and revenue growth, it could signal a recovery in the energy sector, leading to increased investor confidence and stock appreciation.

Bear Case

Conversely, if NOV continues to miss earnings expectations, it may indicate deeper issues within the company or the industry, potentially leading to a further decline in stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

The EPS figure will be crucial in determining whether NOV can turn around its recent performance and meet or exceed market expectations.

How does NOV plan to address revenue growth challenges?

Insights into revenue strategies will indicate the company's approach to navigating current market conditions and its potential for future growth.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating NOV's potential for a rebound, particularly in light of recent operational adjustments that could lead to improved margins.

Supporting Evidence

Options are pricing a 14.96% move, suggesting the market anticipates significant volatility that may not materialize.

The company's history of recovering from earnings misses indicates potential for a positive surprise.

Recent trends in oil prices could provide a favorable backdrop for revenue growth.

Key Risk

If EPS exceeds $0.20, it could challenge the prevailing bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate this quarter revolves around NOV's ability to recover from recent earnings misses and demonstrate sustainable growth.

Bull Confirmed If

An EPS of $0.20 or higher would confirm a positive turnaround in performance.

Bear Confirmed If

An EPS below $0.05 would reinforce concerns about ongoing profitability issues.

Pre-Earnings Positioning

Options Market

Implied Move

±14.96%

Historical Avg

±1.5%

Pricing rich

The options market is pricing in a significant potential move following the earnings report, suggesting heightened uncertainty among investors.

Options are pricing ±15.0% while NOV has averaged ±1.5% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.4%

30d HV

32.8%

Calls (14K)P/C Ratio: 0.01Puts (4K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter miss + options pricing rich setup in Energy

n=30

Fade rate: 17 of 29 (59%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NOV beats expectations, history suggests a potential stock increase of around +2.17%, confirming a recovery narrative.

In-Line / Cautious

An in-line report may lead to a muted reaction, as the market assesses management's commentary for future guidance.

Miss

A miss could result in a decline, with historical data indicating an average drop of around +1.02% following such outcomes.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on cost-cutting measures and their impact on margins.
2Details on new contracts or projects that could drive revenue.
3Management's outlook on oil market conditions and pricing.
4Insights into operational efficiencies and productivity improvements.
5Any commentary on competitive positioning within the energy sector.