National Oilwell Varco Reports Strong 4Q Results but Issues Cautious Guidance for First Half of 2019
National Oilwell Varco reported strong fourth-quarter results, with revenue up 11% sequentially and adjusted operating margins improving to 4.5% from 3.4%. However, management issued cautious guidance for the first half of 2019 owing to the non-repeat of strong fourth quarter work as well as the fall in oil prices since October. In particular, management is guiding for about a 10% sequential fall in revenue in the first quarter. We may slightly moderate our 2019 growth forecasts owing to this te...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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