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

The 10-second takeaway
 For the quarter ended March 31 (Q1), National Oilwell Varco met expectations on revenues and missed estimates on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share contracted. GAAP earnings per share contracted significantly.

Margins shrank across the board.

Revenue details
 National Oilwell Varco tallied revenue of $5.31 billion. The 20 analysts polled by S&P Capital IQ hoped for revenue of $5.37 billion on the same basis. GAAP reported sales were 23% higher than the prior-year quarter's $4.30 billion.

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 $1.29. The 27 earnings estimates compiled by S&P Capital IQ forecast $1.37 per share. Non-GAAP EPS of $1.29 for Q1 were 10% lower than the prior-year quarter's $1.44 per share. GAAP EPS of $1.17 for Q1 were 18% lower than the prior-year quarter's $1.42 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 24.3%, 510 basis points worse than the prior-year quarter. Operating margin was 15.4%, 500 basis points worse than the prior-year quarter. Net margin was 9.5%, 460 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $5.58 billion. On the bottom line, the average EPS estimate is $1.43.

Next year's average estimate for revenue is $22.83 billion. The average EPS estimate is $5.97.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 3,960 members out of 4,015 rating the stock outperform, and 55 members rating it underperform. Among 907 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 900 give National Oilwell Varco a green thumbs-up, and seven 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 $85.46.

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