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NOV Inc. (NYSE:NOV) Q2 2023 Earnings Convention Name July 27, 2023 11:00 AM ET

Firm Contributors

Blake McCarthy – Vice President-Company Growth and Investor Relations

Clay Williams – President, Chairman, and Chief Government Officer

Jose Bayardo – Senior Vice President and Chief Monetary Officer

Convention Name Contributors

Marc Bianchi – TD Cowen

Luke Lemoine – Piper Sandler

Jim Lyson – Raymond James

Stephen Gengaro – Stifel

Scott Gruber – Citigroup

Blake McCarthy

Welcome, everybody, to NOV’s Second Quarter 2023 Earnings Convention Name. With me at present are Clay Williams, our Chairman, President and CEO; and Jose Bayardo, our Senior Vice President and CFO.

Earlier than we start, I want to remind you that a few of at present’s feedback are forward-looking statements throughout the that means of the federal securities legal guidelines. They contain dangers and uncertainty, and precise outcomes could differ materially. Nobody ought to assume these forward-looking statements stay legitimate later within the quarter or later within the 12 months. For a extra detailed dialogue of the main threat components affecting our enterprise, please confer with our newest Types 10-Okay and 10-Q filed with the Securities and Trade Fee. Our feedback additionally embody non-GAAP measures. Reconciliations to the closest corresponding GAAP measures are in our earnings launch obtainable on our web site.

On a U.S. GAAP foundation, for the second quarter of 2023, NOV reported revenues of $2.09 billion and web revenue of $155 million or $0.39 per absolutely diluted share. Our use of the time period EBITDA all through this morning’s name corresponds with the time period adjusted EBITDA as outlined in our earnings launch. Later within the name, we’ll host a question-and-answer session. Please restrict your self to 1 query and one follow-up to allow extra participation.

Now let me flip the decision over to Clay.

Clay Williams

Thanks, Blake. For the second quarter of 2023, NOV reported

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