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NOY NEWS FOR IMMEDIATE RELEASE NOV REPORTS SECOND QUARTER 2021 RESULTS Exhibit 99.1 Contact : Blake McCarthy ( 713 ) 815-3535 HOUSTON , TX , July 27 , 2021. NOV Inc. ( NYSE : NOV ) today reported second quarter 2021 revenues of $ 1.42 billion , an increase of 13 percent compared to the first quarter of 2021 and a decrease of five percent compared to the second quarter of 2020. Net loss for the second quarter of 2021 was $ 26 million , or 1.8 percent of sales , which included pre - tax net charges ( " Other Items " , see Other Corporate Items for additional detail ) of $ 15 million . Adjusted EBITDA ( operating profit excluding depreciation , amortization , and Other Items ) increased sequentially to $ 104 million , or 7.3 percent of sales . " Rising demand in oilfield and offshore wind markets led to stronger orders for NOV during the second quarter , " stated Clay Williams , Chairman , President and CEO . " Both Rig Technologies and Completion & Production Solutions segments posted book - to - bill ratios north of 100 % . Wellbore Technologies continued to execute well on modestly higher oilfield activity , generating its second quarter in a row of double - digit revenue growth with leverage greater than 50 percent . " " While our second quarter financial results continued to reflect 2020's historic decline in oilfield activity and orders , we are encouraged by rising inquiries and activity , and we believe post - pandemic global economic recovery will spur further top - line growth . In the meantime , government - mandated shutdowns continue to disrupt global supply chains , limit raw material availability , and pose challenges for our workforce . NOV did a better job navigating these headwinds in the second quarter , while continuing to advance the Company's leading - edge technology offerings for the oilfield and renewables markets . NOV's portfolio of newly - developed technologies positions the Company well to take advantage of what we believe is the beginning of a multi - year growth market for both conventional and clean energy technologies . " Wellbore Technologies Wellbore Technologies generated revenues of $ 463 million in the second quarter of 2021 , an increase of 12 percent from the first quarter of 2021 and an increase of five percent from the second quarter of 2020. The increase in revenues was driven by continued growth in North American activity levels and a slight improvement in international markets . Operating profit was $ 6 million , or 1.3 percent of sales , and included $ 18 million of Other Items . Adjusted EBITDA increased $ 29 million sequentially to $ 63 million , or 13.6 percent of sales . -1 Completion & Production Solutions Completion & Production Solutions generated revenues of $ 497 million in the second quarter of 2021 , an increase of 13 percent from the first quarter of 2021 and a decrease of 19 percent from the second quarter of 2020. Improved sales volume in six of the segment's eight business units drove the improvement in revenue despite continued COVID operational disruptions . Operating loss was $ 6 million , or 1.2 percent of sales , and included - $ 6 million in Other Items . Adjusted EBITDA increased $ 8 million sequentially to $ 4 million , or 0.8 percent of sales .