National Oilwell Varco's (NYS: NOV) latest earnings report should have shareholders resting easy, revealing a perfectly decent quarter and providing little reason to worry about the future of this top player in the drilling industry. While the stock was down a bit yesterday, this was the expected result of falling pennies short of analysts' EPS estimates. The company is up overall, reporting profits of $612 million. Segment revenue breakdown showed rig technology up 29% year over year, petroleum services and supplies up 18%, and distribution/transmission up 174% -- much of which can be attributed to the massive number of acquisitions that National Oilwell has undertaken.
Energy investors have been concerned about the North American slowdown and its negative effect on companies' earnings. While National Oilwell is no exception here, only half of the company's revenue comes from this region, so the impact will not prove catastrophic. In fact, now may be an ideal time to buy into National Oilwell while it's down in the market. For the full story on National Oilwell's latest quarter and what's in store for it next, be sure to check out the following video.
There are many different ways to play the energy sector, and Motley Fool analysts have uncovered one under-the-radar company that's already dominating its industry. This leading provider of equipment and components used in drilling and production operations is poised to profit in a big way over the coming years, so we've put together a special report aptly titled "The Only Energy Stock You'll Ever Need." Check out this free report to uncover the company's name as well as a detailed analysis of its prospects for the future. This is a free but limited-time offer, so don't miss out -- click here now to claim your copy and start reading today.
The article National Oilwell Pulls In for a Quick Tune-Up originally appeared on Fool.com.
Joel South owns shares of Schlumberger and Halliburton. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Halliburton. Motley Fool newsletter services recommend Halliburton and National Oilwell Varco. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.