HOUSTON--(BUSINESS WIRE)--Feb. 20, 2026-- DNOW Inc. (NYSE: DNOW) announced results for the fourth quarter and year ended December 31, 2025.
Completed Merger with MRC Global Inc.
- On November 6, 2025, DNOW completed its acquisition of MRC Global in an all-stock transaction
- Annual merger cost synergies are ahead of plan, with first-year savings now projected at $23 million, or 35% above target, while maintaining our $70 million three-year synergy commitment
Full-Year 2025 Highlights
- Revenue was $2,820 million
- Gross profit was $478 million, or 17.0% of revenue, and adjusted gross profit was $651 million, or 23.1% of revenue
- Net loss attributable to DNOW Inc. was $89 million, or $(0.76) per diluted share, primarily due to transaction charges, and adjusted net income attributable to DNOW Inc. was $104 million, or $0.86 per diluted share
- Adjusted EBITDA was $209 million, or 7.4% of revenue
- Cash provided by operating activities was $155 million
- Repurchased $37 million of common stock
- Cash and cash equivalents was $164 million and long-term debt was $411 million at December 31, 2025 with total liquidity of approximately $588 million
Fourth Quarter 2025 Highlights
- Revenue was $959 million
- Gross profit was $68 million, or 7.1% of revenue, and adjusted gross profit was $217 million, or 22.6% of revenue
- Net loss attributable to DNOW Inc. was $147 million, or $(0.95) per diluted share, primarily due to transaction charges, and adjusted net income attributable to DNOW Inc. was $23 million, or $0.15 per diluted share
- Adjusted EBITDA was $61 million, or 6.4% of revenue
- Cash provided by operating activities was $83 million
- Repurchased $10 million of common stock
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 fifteen 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-fourth-quarter-and-full-year-2025-results
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