National Oilwell Varco Earnings Preview: Analyts Expect Higher Earnings, Revenue from Prior Quarter

National Oilwell Varco NOV unveils its next round of earnings this Tuesday, July 26, 2011. Here is Benzinga's everything-that-matters guide for this Tuesday's second quarter earnings announcement.

Earnings and Revenue:

Based on estimates, investors are readying for a positive EPS reading of $1.01 per share and revenues of $3.23 billion. The company's latest numbers will no doubt be compared against its year-ago quarter, when it reported an EPS of 97 cents per share on revenues of $2.94 billion. We'll have to wait for Tuesday to see if National Oilwell Varco has accomplished the estimated 4.1% rise in EPS and 9.9% increase in revenues on a year-over-year basis.

Here's how the company's reported EPS has stacked up against analyst estimates in the past:

Quarter	Q1	Q4	Q3	Q2
EPS Estimate	$1.01	$0.96	$0.90	$0.93
EPS Actual	$1.00	$1.05	$0.97	$0.97

Stock Performance:

Shares of National Oilwell Varco were trading at $78.94 as of July 20, 2011. Shares are up 17.7% year to date. For a full 12 months, the return has risen by 64%. Given that these returns are generally positive, long-term shareholders are probably satisfied going into this earnings release.

• Long-term shareholders are already enjoying 12-month gains prior to the announcement

Average Stock Rating:

The average rating by analysts for National Oilwell Varco is a Moderate Buy. This rating has strengthened slightly over the past ninety days.

Competitors:

Wondering how National Oilwell Varco compares to rivals in the same sector? Here are a few of the company's peers.

• Baker Hughes BHI: Moderate Buy with a $0.87 recent quarter EPS
• Cameron International CAM: Moderate Buy with a $0.46 recent quarter EPS
• FMC Technologies FTI: Hold with a $0.32 recent quarter EPS
• Flotek Industries FTK: Strong Buy with a -$0.02 recent quarter EPS

The oil field machines and equipment company's industry has seen price/earnings growth of 0.4% during the current fiscal year.

Finally, a description of the company's main areas of operation: National Oilwell Varco provides equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services.

Take Action:

That's your advanced look at National Oilwell Varco's upcoming earnings numbers -- be ready to take quick action if the company's report contains any surprises. Also, check back in with us after the announcement for a full recap and what-to-do-next guide.

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