The Middle East conflict has created near-term headwinds for NOV's capital equipment business, with impacts on deliveries and margins. While the company expects to navigate through these disruptions, the Q1 miss suggests vulnerability to geopolitical risks in key markets. Monitor the April 27 earnings release for final results and updated guidance.
Price Chart
Executive Summary
NOV provided a preliminary operational update for Q1 2026, citing Middle East conflict disruptions that will cause revenue and earnings to fall below prior guidance. The company expects Q1 revenue of $2.05 billion and Adjusted EBITDA of $177 million, below consensus estimates.
Key Financial Metrics
Key Facts
- NOV expects Q1 2026 revenue of $2.05 billion, below prior guidance and consensus of $2.06 billion
- Adjusted EBITDA expected at $177 million, impacted by $32 million in losses due to Middle East conflict
- Operational disruptions from Middle East war affected capital equipment deliveries and increased costs
- Company cites safety and logistical challenges that disproportionately impacted quarter-end deliveries in the region
Financial Impact
Revenue miss of $10 million and EBITDA impact of $32 million due to Middle East conflict
Risk Factors
- Ongoing geopolitical instability in the Middle East could continue to disrupt operations
- Further downward guidance revisions if conflict persists or escalates
- Margin pressure from higher shipping costs and reduced manufacturing absorption
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-156143 |
| Document: nov-ex99_1.htm | 0001193125-26-156143 |
| Document: 0001193125-26-156143-index-headers.html | 0001193125-26-156143 |
| Document: 0001193125-26-156143-index.html | 0001193125-26-156143 |
| Document: 0001193125-26-156143.txt | 0001193125-26-156143 |
| 8-K Data (Synthetic) | 0001193125-26-156143 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jul 29, 2026 9w ago | 8-K | $19.06 $20.23 | ▲ +6.14% | ▲ +1.12% | $18.94 (−0.63%) |
Jul 28, 2026 9w ago | Press Release | $19.06 $20.23 | ▲ +6.14% | ▲ +1.12% | $18.94 (−0.63%) |
May 22, 2026 19w ago | 8-K | $20.81 $18.82 | ▼ −9.56% | ▼ −8.15% | $18.94 (−8.99%) |
May 21, 2026 19w ago | Press Release | $20.77 $18.63 | ▼ −10.31% | ▼ −10.64% | $18.94 (−8.79%) |
Apr 27, 2026 22w ago | Press Release | $20.29 $21.12 | ▼ −4.09% | ▲ +1.38% | $18.94 (+6.65%) |
Apr 15, 2026 24w ago | 8-K | $19.02 $20.54 | ▼ −7.99% | ▼ −1.95% | $18.94 (+0.42%) |
Apr 15, 2026 24w ago | Press Release | $19.02 $20.54 | ▼ −7.99% | ▼ −1.95% | $18.94 (+0.42%) |
Apr 9, 2026 25w ago | DEFA14A | $19.59 $20.18 | ▲ +3.01% | ▼ −4.56% | $18.94 (−3.32%) |
Mar 16, 2026 28w ago | Press Release | $18.66 $19.02 | ▲ +1.93% | ▼ −2.37% | $18.94 (+1.50%) |
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