Analysts expect higher profit for National-Oilwell Varco when the company reports its third quarter results on Thursday, October 30, 2014. The consensus estimate is calling for profit of $1.55 a share, reflecting a rise from $1.34 per share a year ago.
The consensus estimate has fallen over the past month, from $1.57, but it's the same as it was three months ago. Analysts are expecting earnings of $5.99 per share for the fiscal year. A year after being $5.79 billion, analysts expect revenue to fall 5% year-over-year to $5.48 billion for the quarter. For the year, revenue is projected to roll in at $21.55 billion.
A year-over-year dip in revenue in the second quarter broke a three-quarter streak of revenue growth.
The company has been profitable for the last eight quarters, and for the last four, profit has risen year-over-year by an average of 4%. The company saw the biggest boost in the first quarter, in which it saw a 17% growth.
Earnings estimates provided by Zacks.
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