10 Companies Jump on Better Earnings, Outlook

4. Nov Inc. (NYSE:NOV)

Oilfield equipment manufacturer Nov Inc. saw its share prices jump by 12.92 percent on Wednesday to close at $16.43 each after topping analyst expectations on its earnings performance.

While net profit and revenues both registered declines in the fourth quarter and full year of 2024, Nov Inc. was able to surpass consensus estimates.

According to the company, net income in the fourth quarter of the year decreased by 27 percent to $438 million from $598 million year-on-year, while also dropping by 36 percent in the full year at $635 million from $993 million in 2023.

Revenues for the fourth quarter alone dipped by 1 percent to $2.31 billion, surpassing analyst estimates of $2.26 billion.

Meanwhile, revenues for the full year 2024 increased by 3 percent to $8.87 billion from $8.58 billion in 2023.

For this year, Nov Inc. said it expects consolidated revenues to decrease between 1 to 3 percent year-on-year.