Earnings summaries and quarterly performance for DNOW.
Executive leadership at DNOW.
David Cherechinsky
Detailed
President and Chief Executive Officer
CEO
GA
Gillian Anderson
Detailed
Vice President and Chief Accounting Officer
KM
Kelly Munson
Detailed
Chief Administrative and Information Officer
MJ
Mark Johnson
Detailed
Senior Vice President and Chief Financial Officer
RC
Raymond Chang
Detailed
Vice President, General Counsel and Secretary
RS
Rocio Surratt
Detailed
Vice President – Finance and Corporate Controller
Board of directors at DNOW.
Research analysts who have asked questions during DNOW earnings calls.
Jeffrey Robertson
Water Tower Research
4 questions for DNOW
Also covers: AMPY, BATL, EGY +14 more
AF
Adam Farley
Stifel Financial Corp.
2 questions for DNOW
Also covers: AOS, BMI, CR +10 more
JJ
Joshua Jayne
Daniel Energy Partners
2 questions for DNOW
Also covers: AESI, AROC, CLB +17 more
NJ
Nathan Jones
Stifel, Nicolaus & Company, Incorporated
2 questions for DNOW
Also covers: AOS, BMI, CR +20 more
Blake McLean
Daniel Energy Partners
1 question for DNOW
Also covers: AROC, DTI, HP +7 more
CM
Charles Minervino
Susquehanna International Group
1 question for DNOW
Also covers: MRC, OIS, RES
Recent press releases and 8-K filings for DNOW.
NowVertical Group Reports Q3 2025 Financial Results
DNOW
Earnings
New Projects/Investments
- NowVertical Group Inc. reported revenue of $9.1 million for the third quarter ended September 30, 2025, a 15% decrease from Q3 2024, primarily due to a $1.0 million deflation from the devaluation of the Argentine peso. Year-to-date revenue for 2025 was $27.7 million, a 3% decrease from the same period in 2024.
- Adjusted EBITDA for Q3 2025 was $1.8 million, a 9% decrease from Q3 2024, representing 20% of revenue. However, year-to-date Adjusted EBITDA increased 17% to $5.4 million compared to the nine months ended September 30, 2024.
- The company's focus on higher-margin strategic accounts has led to revenue from its top 30 clients representing 69% of total revenue and growing over 23% for the nine months ended September 30, 2025, compared to the same period in 2024.
- NowVertical Group strengthened its balance sheet by fully retiring its outstanding debentures on October 6, 2025.
Nov 12, 2025, 12:30 PM
NowVertical Group Inc. Achieves Google Cloud Generative AI Specialization
DNOW
New Projects/Investments
Revenue Acceleration/Inflection
- NowVertical Group Inc. (DNOW) has been awarded the Google Cloud Generative AI Specialization, which is its third Google Cloud specialization following Data & Analytics and Machine Learning.
- This achievement positions NowVertical among only 15 companies worldwide with this breadth of specializations, demonstrating its expertise in deploying Generative AI solutions.
- The partnership with Google is a strategic growth engine, delivering 12 new client projects in H1 2025 and managing 20 enterprise accounts with Google Cloud-enabled solutions.
- NowVertical recently secured a Google Cloud-based data modernization program in EMEA with a global media and entertainment leader, driving growth in North America and EMEA.
Nov 11, 2025, 1:00 PM
DNOW Completes Acquisition of MRC Global
DNOW
M&A
Debt Issuance
- DNOW Inc. completed its acquisition of MRC Global Inc. on November 6, 2025, creating a premier solutions provider to the energy and industrial markets.
- Under the terms of the merger agreement, each share of MRC Global's common stock was converted into the right to receive 0.9489 shares of DNOW's common stock.
- The acquisition is projected to deliver $70 million of annual cost synergies within three years and expand DNOW's operations to approximately 5,000 team members across more than 350 service and distribution locations in over 20 countries.
- MRC Global's stock will be delisted from the NYSE, and it will no longer have reporting obligations under the Securities Exchange Act of 1934.
- In connection with the acquisition, DNOW entered into an Amended and Restated Credit Agreement, establishing an $850 million revolving credit facility with a maturity date of November 30, 2030, with proceeds to be used, in part, to pay off MRC Global's existing indebtedness.
Nov 6, 2025, 9:30 PM
DNOW Announces Q3 2025 Results and Provides Full-Year Outlook
DNOW
Earnings
M&A
Guidance Update
- DNOW reported Q3 2025 revenue of $634 million, a 5% increase year-over-year, with GAAP net income of $25 million and non-GAAP diluted EPS of $0.26.
- The company announced a merger agreement with MRC Global on June 26, 2025, anticipated to close in Q4 2025, which is expected to significantly increase scale and scope.
- DNOW maintains a strong balance sheet with no debt and $629 million in total liquidity as of September 30, 2025. The $160 million share repurchase program is currently paused due to the pending merger.
- For full-year 2025, DNOW expects EBITDA approaching 8% of revenue and free cash flow approaching $150 million.
Nov 5, 2025, 2:00 PM
DNOW Reports Q3 2025 Results and Provides Full-Year Outlook
DNOW
Earnings
Guidance Update
M&A
- DNOW reported Q3 2025 revenue of $634 million, marking the highest revenue quarter in almost six years, and EBITDA of $51 million, or 8% of revenue.
- The company generated $39 million in free cash flow for Q3 2025, bringing year-to-date free cash flow to $58 million, with a full-year 2025 expectation to approach $150 million.
- DNOW maintains a strong balance sheet with zero debt and $266 million in cash, contributing to a total liquidity of $629 million at the end of Q3 2025.
- The merger with MRC Global has received shareholder and regulatory approvals and is expected to close in the coming days, with anticipated $70 million in annual cost synergies within three years.
- For the full year 2025, DNOW expects EBITDA to approach 8% of revenues and forecasts its best full-year earnings ever as a public company in terms of total EBITDA results.
Nov 5, 2025, 2:00 PM
DNOW Inc. Reports Q3 2025 Results and Progress on MRC Global Merger
DNOW
Earnings
M&A
Guidance Update
- DNOW Inc. reported Q3 2025 revenue of $634 million, with net income attributable to DNOW Inc. of $25 million ($0.23 per diluted share) and EBITDA excluding other costs of $51 million (8.0% of revenue).
- The company announced a definitive merger agreement to acquire MRC Global in an all-stock transaction valued at approximately $1.5 billion, which is anticipated to close in Q4 2025.
- As of September 30, 2025, DNOW maintained a strong financial position with $266 million in cash and cash equivalents and zero long-term debt.
- Management projects 2025 to be the fifth consecutive year of growth and anticipates the best full-year earnings ever as a public company based on total EBITDA results.
Nov 5, 2025, 11:54 AM
NowVertical Group Reports Rapid Growth in Strategic Account Program
DNOW
Revenue Acceleration/Inflection
New Projects/Investments
- NowVertical Group Inc. announced that a UK-based Strategic Account, secured in Q2 2025, achieved over US $1 million in contracted revenue within six months, representing the fastest scale-up in the Strategic Account Program's history.
- The Strategic Account Program has generated US $37.3 million in revenue over the past 18 months.
- In 2024, 8 separate Strategic Accounts delivered greater than US $1 million in revenue, an increase from 3 in 2023.
- The Strategic Account Program now contributes 70% of H1 total revenue, up from less than 45% before the program's launch.
Oct 22, 2025, 12:00 PM
NowVertical Group Reports Second Quarter 2025 Financial Results
DNOW
Earnings
Demand Weakening
New Projects/Investments
- NowVertical Group Inc. reported Q2 2025 revenue of $8.2 million, a 13% decrease from Q2 2024, while H1 2025 revenue increased 4% to $18.6 million.
- Despite the Q2 revenue decline, Income from Operations increased 41% to $0.6 million in Q2 2025 and 622% to $2.1 million in H1 2025.
- Adjusted EBITDA for Q2 2025 was $1.0 million, a 29% decrease, but for H1 2025, it increased 36% to $3.6 million.
- The company noted that strategic accounts grew 44% year-over-year, now representing over 70% of H1 2025 revenue, despite Q2's revenue dip due to restructuring and deferred deals.
- NowVertical secured up to $26 million USD in financing with HSBC on May 30, 2025, to fuel growth.
Aug 27, 2025, 9:00 PM
Quarterly earnings call transcripts for DNOW.
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