The 2020 Mid-Year Economic Update_long

National Oilwell Varco Sales Increase 0.7% in 2017

Fourth quarter sales increased 16.4 percent year-over-year.

National Oilwell Varco Inc. (NYSE: NOV), Houston, TX, reported sales for 2017 of $7.3 billion, a 0.7 percent increase from the previous year. The company reported a loss of $236 million, compared to a loss of $2.4 billion the prior year.

The company reported sales for the fourth quarter of $2 billion, an increase of 16.4 percent compared to the same period a year ago. The company reported a loss of $15 million, compared to a loss of $717 million for the same period the prior year.

Fourth quarter sales for the rig technologies segment were $614 million, an increase of 0.1 percent year-over-year. Wellbore Technologies sales were $715 million, an increase of 34.7 percent.

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