NOV beats Q3 2026 revenue and EBITDA estimates despite negative free cash flow

what happened

Oilfield equipment maker NOV reported its third-quarter 2026 results. Revenue reached $2.23 billion, up 2.3% from a year earlier and 1.5% above the S&P analyst consensus. Adjusted EBITDA came in at $281 million against an expected $256.7 million, with an EBITDA margin of 12.6%. GAAP earnings of $0.25 per share matched forecasts.

Chairman, President and CEO Jose Bayardo tied the results to support for customers in the Middle East and higher manufacturing output against a growing backlog of capital equipment orders. Free cash flow, however, was negative at $47 million, compared with $245 million a year earlier. According to StockStory, the shares fell 2.5% to $20.05 after the report.

why it matters

The contrast matters for investors: operating figures beat expectations, but the cash outflow raises questions about whether the trend will persist in coming quarters. In the oilfield services sector, free cash flow is a key gauge of resilience, so figures like these shape how the market views the company's shares.

market impact

NOV: operating results beat forecasts, but negative free cash flow weighs on the company's shares

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