DNOW Reports Second Quarter 2025 Results

August 06, 2025

Press Release Investor Relations

HOUSTON--(BUSINESS WIRE)--Aug. 6, 2025-- DNOW Inc. (NYSE: DNOW) announced results for the second quarter ended June 30, 2025.

Merger Agreement with MRC Global Inc. (NYSE: MRC)

On June 26, 2025, DNOW and MRC Global jointly announced a definitive merger agreement under which DNOW will acquire MRC Global in an all-stock transaction valued at approximately $1.5 billion
The transaction was unanimously approved by both the DNOW and MRC Global boards of directors and is currently anticipated to close in the fourth quarter of 2025, subject to shareholder approvals, regulatory approvals and other customary closing conditions

Financial Highlights

Revenue was $628 million for the second quarter of 2025
Net income attributable to DNOW Inc. was $25 million, or $0.23 per diluted share, for the second quarter of 2025
Non-GAAP net income attributable to DNOW Inc. excluding other costs was $29 million, or $0.27 per diluted share, for the second quarter of 2025
EBITDA excluding other costs was $51 million or 8.1% of revenue for the second quarter of 2025
Cash provided by operating activities was $45 million for the second quarter of 2025 and $225 million for the trailing four quarters ending June 30, 2025
Repurchased $19 million of common stock in the second quarter of 2025, and $27 million year-to-date ending June 30, 2025
Cash and cash equivalents was $232 million and long-term debt was zero at June 30, 2025, with total liquidity of approximately $582 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.”