DNOW Inc. Reports First Quarter 2024 Results

HOUSTON--(BUSINESS WIRE)--May 10, 2024-- DNOW Inc. (NYSE: DNOW) announced results for the first quarter ended March 31, 2024.

Financial Highlights

• Cash provided by operating activities was $81 million for the first quarter of 2024 and $275 million for the trailing four quarters ending March 31, 2024
• Revenue was $563 million for the first quarter of 2024
• Net income attributable to DNOW Inc. was $21 million, or $0.19 per diluted share, for the first quarter of 2024
• Non-GAAP net income attributable to DNOW Inc. excluding other costs was $23 million, or $0.21 per diluted share, for the first quarter of 2024
• EBITDA excluding other costs was $39 million or 6.9% of revenue for the first quarter of 2024
• Completed acquisition of Whitco Supply LLC for $185 million in cash, enhancing capabilities and position primarily in the U.S. midstream market
• Cash and cash equivalents was $188 million and long-term debt was zero at March 31, 2024 with total liquidity of approximately $564 million

Where to Hear Earnings

The conference call will be accessible through the Investor Relations link on DNOW Inc.'s website at ir.dnow.com. 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.”

Press Release Source

View the full press release on our investor website: https://ir.dnow.com/news-releases/news-release-details/dnow-reports-first-quarter-2024-results.

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