National Oilwell Varco (NYSE: NOV) reported earnings on Feb. 2. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), National Oilwell Varco beat expectations on revenues and beat expectations on earnings per share.

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

Gross margins dropped, operating margins improved, net margins dropped.

Revenue details
National Oilwell Varco logged revenue of $4.26 billion. The 18 analysts polled by S&P Capital IQ hoped for a top line of $4.03 billion. Sales were 34% higher than the prior-year quarter's $3.17 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.

EPS details
Non-GAAP EPS came in at $1.37. The 24 earnings estimates compiled by S&P Capital IQ predicted $1.30 per share on the same basis. GAAP EPS of $1.35 for Q4 were 29% higher than the prior-year quarter's $1.05 per share.

Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 30.2%, 120 basis points worse than the prior-year quarter. Operating margin was 19.9%, 20 basis points better than the prior-year quarter. Net margin was 13.5%, 40 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $4.17 billion. On the bottom line, the average EPS estimate is $1.37.

Next year's average estimate for revenue is $17.51 billion. The average EPS estimate is $5.83.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 3,369 members out of 3,417 rating the stock outperform, and 49 members rating it underperform. Among 1,045 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,038 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 $89.14.

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