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Why National Oilwell Varco’s Free Cash Flow Turned Negative in Q1

Alex Chamberlin
Why National Oilwell Varco’s Free Cash Flow Turned Negative in Q1

In the first quarter, its CFO decreased due to increases in accounts receivable and inventory and a decrease in accrued liabilities due to delayed orders and deferred deliveries. National Oilwell Varco’s capex decreased 7% in the first quarter over the first quarter of 2017.