Earnings call transcript: Highwoods Properties beats Q3 2026 estimates

NOV Inc. posted third-quarter 2026 financial results that surpassed revenue expectations but mirrored profit estimates, while shares declined 4.7% in after-hours trading. The oilfield equipment and services company reported earnings of $0.25 per share, matching market projections, on revenue of $2.23 billion, exceeding the $2.20 billion consensus.

Earnings growth was driven by a 4% increase from the prior quarter and a 2% rise from the previous year. Despite the modest top-line beat, investors reacted negatively due to muted guidance, negative free cash flow, and a lower-than-anticipated year-end book-to-bill outlook. Adjusted EBITDA margin improved to 12.6% of sales, aided by better cost control and execution.

Full-year 2026 book-to-bill is projected at 80% to 85%, below the initial 90% to 100% target. Management remains optimistic about 2027, citing stronger offshore activity, improved pricing, and better margins.