National Oilwell Varco Posts Weak First-Quarter Results (Per Prior Management Guidance)
National Oilwell Varco posted very weak first-quarter results, as management had previously guided. Revenue fell 19% sequentially (although it remained up 8% year over year), driven chiefly by about 25% drops in both the Rig Technologies and Completion & Production segments. Adjusted operating margin fell to negative 1.9% from 4.5% in the prior quarter, marking a two-year low. Although these are very weak results, they are mostly attributable to short-term factors, therefore our fair value e...National Oilwell Varco is an independent provider of equipment and technology to the upstream oil and gas industry. The company's segments include: Wellbore Technologies, which designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations; Completion and Production Solutions, which designs, manufactures, and sells equipment and technologies for hydraulic fracture stimulation, well intervention, onshore production, and offshore production; and Rig Technologies, which designs, manufactures and sells land rigs, offshore drilling equipment packages, and drilling rig components that mechanize and automate the drilling process and rig functionality.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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