The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how NOV (NYSE: NOV) and the rest of the oilfield services stocks fared in Q1.
Oilfield services companies provide equipment, technology, and services enabling exploration and production activities, including drilling, completion, well intervention, and reservoir evaluation. Their fortunes closely track upstream capital spending cycles. Tailwinds include increased drilling activity during favorable commodity environments, demand for efficiency-enhancing technologies, and growing offshore and unconventional resource development. Headwinds include significant revenue volatility tied to oil and gas price swings and producer spending discipline. Intense competition pressures pricing and margins, while the energy transition may structurally reduce long-term demand. Workforce availability and technological disruption require continuous adaptation.
The 26 oilfield services stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 3.8%.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 9.9% since the latest earnings results.
NOV (NYSE: NOV)
With roots stretching back to 1862 when it began making equipment for early oil fields, NOV (NYSE: NOV) manufactures drilling rigs, drill bits, pumps, and other equipment used to drill oil and gas wells.
NOV reported revenues of $2.05 billion, down 2.4% year on year. This print was in line with analysts’ expectations, but overall, it was a slower quarter for the company with a significant miss of analysts’ EPS estimates and EBITDA in line with analysts’ estimates.
“The conflict in the Middle East created significant operational disruptions during the first quarter, but also reinforced and accelerated market trends that we believe will drive a meaningfully more constructive environment for NOV,” said Jose Bayardo, Chairman, President and CEO.
The market seems disappointed with the results as the stock is down 6.8% since reporting and currently trades at $19.41.
Read our full report on NOV here, it’s free.
Best Q1: Select Water Solutions (NYSE: WTTR)
Managing over 24 billion barrels of produced water annually across major U.S. shale plays, Select Water Solutions (NYSE: WTTR) provides water sourcing, recycling, disposal, and treatment services for oil and gas producers.
Select Water Solutions reported revenues of $366 million, down 2.3% year on year, outperforming analysts’ expectations by 6.8%. The business had an incredible quarter with a beat of analysts’ EPS and EBITDA estimates.
The market seems happy with the results as the stock is up 16.7% since reporting. It currently trades at $20.13.
Is now the time to buy Select Water Solutions? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: Borr Drilling (NYSE: BORR)
Operating one of the world's youngest jack-up fleets with an average age under eight years, Borr Drilling (NYSE: BORR) operates jack-up rigs that drill oil and gas wells in shallow waters up to 400 feet deep for exploration and production companies.
Borr Drilling reported revenues of $247 million, up 14% year on year, falling short of analysts’ expectations by 2.1%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA and EPS estimates.
Borr Drilling delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 32.3% since the results and currently trades at $4.18.
Read our full analysis of Borr Drilling’s results here.
ProFrac (NASDAQ: ACDC)
Operating one of the largest electric-powered fracturing fleets in North America, ProFrac (NASDAQ: ACDC) provides hydraulic fracturing services that help oil and gas companies extract hydrocarbons from underground shale formations.
ProFrac reported revenues of $449.6 million, down 25.1% year on year. This result surpassed analysts’ expectations by 8.3%. It was a strong quarter as it also logged a solid beat of analysts’ EBITDA estimates.
ProFrac had the slowest revenue growth of the whole group. The stock is down 32.7% since reporting and currently trades at $4.80.
Read our full, actionable report on ProFrac here, it’s free.
World Kinect (NYSE: WKC)
Serving over 150,000 customers from commercial jets to cargo ships to heating oil consumers, World Kinect (NYSE: WKC) procures and delivers fuel and energy products to airlines, shipping companies, trucking fleets, and industrial businesses worldwide.
World Kinect reported revenues of $9.69 billion, up 2.5% year on year. This number topped analysts’ expectations by 10.4%. Overall, it was an incredible quarter as it also put up a beat of analysts’ EPS and EBITDA estimates.
The stock is up 57.2% since reporting and currently trades at $37.01.
Read our full, actionable report on World Kinect here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
