The 2020 Mid-Year Economic Update_long

National Oilwell Varco 3Q Sales Up 6%

Year to date, sales at National Oilwell Varco up 13.9 percent.

National Oilwell Varco Inc. (NYSE: NOV), Houston, TX, reported sales for the third quarter of $5.6 billion, an increase of 6 percent compared to the same period a year ago. Profit increased 12.9 percent to $699 million.

Third-quarter sales for the rig systems segment were $2.7 billion, an increase of 29 percent from the third quarter of 2013. Third-quarter sales for the rig aftermarket segment were $837 million, an increase of 18 percent from the third quarter of 2013.

Sales for the third quarter of the wellbore technologies segment were $1.5 billion, an increase of 14 percent from the third quarter of 2013. And the completion & production solutions segment generated revenues of $1.2 billion, an increase of 9 percent from the third quarter of 2013.

Year-to-date sales were $15.7 billion, up 13.9 percent over the prior-year period. Profit increased 14.3 percent to $1.9 billion.

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