National Oilwell Varco (NYSE: NOV) is expected to report Q2 earnings on July 26. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict National Oilwell Varco's revenue will expand 25.9% and EPS will improve 21.9%.

The average estimate for revenue is $4.42 billion. On the bottom line, the average EPS estimate is $1.39.

Revenue details
Last quarter, National Oilwell Varco tallied revenue of $4.30 billion. GAAP reported sales were 37% higher than the prior-year quarter's $3.15 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Last quarter, non-GAAP EPS came in at $1.44. GAAP EPS of $1.42 for Q1 were 48% higher than the prior-year quarter's $0.96 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
For the preceding quarter, gross margin was 29.4%, 160 basis points worse than the prior-year quarter. Operating margin was 20.4%, 100 basis points better than the prior-year quarter. Net margin was 14.1%, 120 basis points better than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $18.83 billion. The average EPS estimate is $5.91.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS. Among 796 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 788 give National Oilwell Varco a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on National Oilwell Varco is outperform, with an average price target of $94.31.

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