National Oilwell Varco (NYSE: NOV) reported earnings on July 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended June 30 (Q2), National Oilwell Varco beat expectations on revenue and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue increased significantly and GAAP earnings per share expanded significantly.

Margins dropped across the board.

Revenue details
National Oilwell Varco chalked up revenue of $4.73 billion. The 14 analysts polled by S&P Capital IQ expected a top line of $4.42 billion on the same basis. GAAP reported sales were 35% higher than the prior-year quarter's $3.51 billion.

My

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

EPS details
EPS came in at $1.46. The 17 earnings estimates compiled by S&P Capital IQ forecast $1.39 per share. GAAP EPS of $1.42 for Q2 were 26% higher than the prior-year quarter's $1.13 per share.

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

Margin details
For the quarter, gross margin was 27.9%, 290 basis points worse than the prior-year quarter. Operating margin was 18.6%, 160 basis points worse than the prior-year quarter. Net margin was 12.8%, 90 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $4.84 billion. On the bottom line, the average EPS estimate is $1.49.

Next year's average estimate for revenue is $18.80 billion. The average EPS estimate is $5.91.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 3,504 members out of 3,556 rating the stock outperform, and 52 members rating it underperform. 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 $95.14.

Is National Oilwell Varco the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.