National Oilwell Varco warns of Russian sanctions impact

National Oilwell Varco (NYSE:NOV) warns that economic sanctions against Russia could hurt its results, adding that $60M-$100M of its $5.26B in Q2 sales came from its Russian operations.

"Some or all such sales may be restricted in the future by these sanctions," NOV says in an SEC filing.

As of June 30, NOV had a net investment of $140M in Russia.

NOV -0.7% AH.

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Comments (5)
  • mrfolsom
    , contributor
    Comments (82) | Send Message
    Ok so roughly 1.5% of all sales might in part or in total be affected. Maybe a catalyst for another 5% selloff. I missed adding last week but might get another opp.
    4 Aug 2014, 06:57 PM Reply Like
  • John Rhodes
    , contributor
    Comments (1362) | Send Message
    Right, so even if Russia goes to $0.00 we're looking at less than 2% impact to revenue. ** Yawn **


    My cost basis is $68.75 and I'm long NOV (and holding on DNOW spinoff). Excellent company, great management, and more. Easy to hold and enjoy.
    4 Aug 2014, 07:19 PM Reply Like
  • Goalkick9
    , contributor
    Comments (1178) | Send Message
    Not sure why they felt the need to even address this.
    4 Aug 2014, 07:28 PM Reply Like
  • AF1889
    , contributor
    Comments (3) | Send Message
    A small price to pay if we can hurt the Russians
    4 Aug 2014, 08:55 PM Reply Like
  • chammond63
    , contributor
    Comments (136) | Send Message
    Not sure this is worthy of a headline, much less a tweet
    4 Aug 2014, 10:26 PM Reply Like
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