NOV Inc.: Initiation Of Coverage – How Are They Adapting Their Business Strategy To Cater To The Increasing Demand? 

National Oilwell Varco (NOV) reported a solid fourth quarter of 2023, with revenues up 7% sequentially to $2.3 billion. This growth was driven by strong offshore and international demands and a continued improvement in the supply chain. However, the company identified several challenges in its performance, including a 5% sequential decline in North American land revenues and an unexpected $20 million impact on EBITDA due to the devaluation of the Argentine peso.