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DNOW Inc. Reports Fourth Quarter and Full-Year 2023 Results

February 15, 2024

HOUSTON--(BUSINESS WIRE)--Feb. 15, 2024-- DNOW Inc. (NYSE: DNOW) announced results for the fourth quarter and full-year ended December 31, 2023.

Financial Highlights

  • Cash provided by operating activities was $105 million for the fourth quarter of 2023 and $188 million for the full year 2023
  • Revenue was $555 million for the fourth quarter of 2023
  • Net income attributable to DNOW Inc. was $147 million, or $1.35 per diluted share, for the fourth quarter of 2023, which included a non-cash deferred tax benefit of $126 million from the release of valuation allowances on deferred tax assets
  • Non-GAAP net income attributable to DNOW Inc., excluding other costs, was $24 million, or $0.22per diluted share, for the fourth quarter of 2023
  • EBITDA, excluding other costs, was $44 million or 7.9% of revenue for the fourth quarter of 2023
  • Cash and cash equivalents were $299 million, and long-term debt was zero on December 31, 2023, with total liquidity of approximately $626 million

Where to Hear Earnings

The conference call will be accessible through the Investor Relations link on DNOW Inc.'s website at Attendees are encouraged to log in before the call to register for the webcast. A call replay will also be available online thirty days after the conference.

For direct participation, attendees within North America can dial 1-888-660-6431, while international participants can use 1-929-203-2118, with the Access Code 7372055. It's recommended to join the call five to ten minutes before the scheduled start time and request the “DNOW Inc. Earnings Conference Call.”

Where to Download Earnings Presentation

Before the earnings conference call, a presentation titled “DNOW Fourth Quarter and Full-Year 2023 Key Takeaways” will be available on the Company’s Investor Relations website.

Press Release Source

View the full press release on our investor website: