National Oilwell Varco (NYSE: NOV) is expected to report Q1 earnings on April 16. 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 revenues will expand 25.0% and EPS will contract -5.6%.

The average estimate for revenue is $5.38 billion. On the bottom line, the average EPS estimate is $1.36.

Revenue details
 Last quarter, National Oilwell Varco logged revenue of $5.69 billion. GAAP reported sales were 33% higher than the prior-year quarter's $4.26 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 $1.49. GAAP EPS of $1.56 for Q4 were 16% higher than the prior-year quarter's $1.35 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 24.5%, 540 basis points worse than the prior-year quarter. Operating margin was 15.9%, 400 basis points worse than the prior-year quarter. Net margin was 11.8%, 170 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $22.87 billion. The average EPS estimate is $5.99.

Investor sentiment

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 $92.08.

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.