DNOW Inc
NYSE:DNOW

  • LAST PRICE
    14.3700
  • TODAY'S CHANGE (%)
    -0.2200 (-1.5079%)
  • Bid / Lots
    14.1000/ 7
  • Ask / Lots
    14.6100/ 6
  • Open / Previous Close
    14.6400 / 14.5900
  • Day Range
    14.2900
    14.7300
  • 52 Week Range
    9.4400
    15.6450
  • Volume
    519,395

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  • Nov 7, 2024

      Show headlines and story abstract

    • 6:48AM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: DNOW
      06:48 AM EST, 11/07/2024 (MT Newswires) -- ...

    • 6:48AM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: DNOW
      06:48 AM EST, 11/07/2024 (MT Newswires) -- ...

    • 6:45AM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: DNOW
      June September 30, 30, September 30, ------------- ------- ------------------- 2024 2023 2024 2024 2023 ---- ----- ------ ----- ------- Revenue: United States $ 482 $ 448 $ 512 $ 1,429 $ 1,331 Canada 65 68 56 187 217 International 59 72 65 186 218 ---- ----- ------ ----- ------- Total revenue $ 606 $ 588 $ 633 $ 1,802 $ 1,766 ==== ===== ====== ===== ======= DNOW INC. SUPPLEMENTAL INFORMATION (CONTINUED) U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) TO NON-GAAP RECONCILIATIONS NET INCOME ATTRIBUTABLE TO DNOW INC. TO NON-GAAP EBITDA EXCLUDING OTHER COSTS RECONCILIATION (UNAUDITED) (In millions) Three Months Ended Nine Months Ended ------------------------------- -------------------- September 30, June 30, September 30, -------------------- --------- -------------------- 2024 2023 2024 2024 2023 ---- ---- ---- ---- ---- GAAP net income attributable to DNOW Inc. (1) $ 13 $ 35 $ 24 $ 58 $ 100 Net income attributable to noncontrolling interest (2) - - 1 1 1 Interest expense (income), net (1) (2) (1) (4) (3) Income tax provision 9 2 8 25 6 Depreciation and amortization 8 7 9 24 19 Other costs: Stock-based compensation 3 4 4 9 11 Other (3) 10 - 5 18 6 ---- ---- ---- ---- ---- EBITDA excluding other costs $ 42 $ 46 $ 50 $ 131 $ 140 ==== ==== ==== ==== ==== EBITDA % excluding other costs (4) 6.9% 7.8% 7.9% 7.3% 7.9% NET INCOME ATTRIBUTABLE TO DNOW INC. TO NON-GAAP NET INCOME ATTRIBUTABLE TO DNOW INC. EXCLUDING OTHER COSTS RECONCILIATION (UNAUDITED) (In millions) Three Months Ended Nine Months Ended ----------------------------- ------------------ September 30, June 30, September 30, ----------------- ---------- ------------------ 2024 2023 2024 2024 2023 ----- ---- ------ ---- ---- GAAP net income attributable to DNOW Inc. (1) $ 13 $ 35 $ 24 $ 58 $ 100 Other, net of tax (5) (6) 9 (7) 4 15 (17) ----- ---- ------ ---- ---- Net income attributable to DNOW Inc. excluding other costs (6) $ 22 $ 28 $ 28 $ 73 $ 83 ===== ==== ====== ==== ==== DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO DNOW INC. STOCKHOLDERS TO NON-GAAP DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO DNOW INC. STOCKHOLDERS EXCLUDING OTHER COSTS RECONCILIATION (UNAUDITED) Three Months Ended Nine Months Ended -------------------------- ------------------- September 30, June 30, September 30, -------------- ---------- ------------------- 2024 2023 2024 2024 2023 ---- ----- ------ ---- ----- GAAP diluted earnings per share attributable to DNOW Inc. stockholders (1) $0.12 $ 0.32 $ 0.21 $ 0.53 $ 0.90 Other, net of tax (5) (6) 0.09 (0.07) 0.04 0.14 (0.15) ---- ----- ------ ---- ----- Diluted earnings per share attributable to DNOW Inc. stockholders excluding other costs (6) $0.21 $ 0.25 $ 0.25 $ 0.67 $ 0.75 ==== ===== ====== ==== ===== (1) In an effort to provide investors with additional information regarding our results as determined by GAAP, we disclose various non-GAAP financial measures in our quarterly earnings press releases and other public disclosures. The non-GAAP financial measures include: (i) earnings before interest, taxes, depreciation and amortization (EBITDA) excluding other costs, (ii) net income attributable to DNOW Inc. excluding other costs and (iii) diluted earnings per share attributable to DNOW Inc. stockholders excluding other costs. Each of these financial measures excludes the impact of certain other costs and therefore has not been calculated in accordance with GAAP. A reconciliation of each of these non-GAAP financial measures to its most comparable GAAP financial measure is included in the schedules herein. (2) Net income attributable to noncontrolling interest represents the income retained by the noncontrolling party of a joint venture in our international segment which we consolidate into our financials as we are the primary beneficiary and controlling member. (3) Other includes certain income and expenses and does not include stock-based compensation expense. For the three months ended September 30, 2024, Other was primarily related to the International restructuring charges of $8 million, of which approximately $5 million of foreign currency translation losses included in impairment and other charges, approximately $2 million of inventory write-downs included in cost of products and $1 million of other exit costs included in warehousing, selling and administrative; additionally, Other also included transaction-related charges of approximately $2 million recorded in warehousing, selling and administrative. For the nine months ended September 30, 2024, Other included the International restructuring charges of $8 million mentioned above as well as transaction-related charges of approximately $10 million, of which $5 million were included in cost of products and approximately $5 million included in warehousing, selling and administrative. Transaction-related charges include transaction costs, inventory fair value step-up, retention bonus accruals and integration expenses associated with acquisitions. (4) EBITDA % excluding other costs is defined as EBITDA excluding other costs divided by Revenue. (5) Other, net of tax includes certain income and expenses and does not include stock-based compensation expense. For the three and nine months ended September 30, 2024, Other, net of tax, included approximately $9 million and $15 million, respectively, related to transaction-related and International restructuring charges. (6) Totals may not foot due to rounding.

    • 6:45AM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: DNOW
      June September 30, 30, September 30, ------------- ------- ------------------- 2024 2023 2024 2024 2023 ---- ----- ------ ----- ------- Revenue: United States $ 482 $ 448 $ 512 $ 1,429 $ 1,331 Canada 65 68 56 187 217 International 59 72 65 186 218 ---- ----- ------ ----- ------- Total revenue $ 606 $ 588 $ 633 $ 1,802 $ 1,766 ==== ===== ====== ===== ======= DNOW INC. SUPPLEMENTAL INFORMATION (CONTINUED) U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) TO NON-GAAP RECONCILIATIONS NET INCOME ATTRIBUTABLE TO DNOW INC. TO NON-GAAP EBITDA EXCLUDING OTHER COSTS RECONCILIATION (UNAUDITED) (In millions) Three Months Ended Nine Months Ended ------------------------------- -------------------- September 30, June 30, September 30, -------------------- --------- -------------------- 2024 2023 2024 2024 2023 ---- ---- ---- ---- ---- GAAP net income attributable to DNOW Inc. (1) $ 13 $ 35 $ 24 $ 58 $ 100 Net income attributable to noncontrolling interest (2) - - 1 1 1 Interest expense (income), net (1) (2) (1) (4) (3) Income tax provision 9 2 8 25 6 Depreciation and amortization 8 7 9 24 19 Other costs: Stock-based compensation 3 4 4 9 11 Other (3) 10 - 5 18 6 ---- ---- ---- ---- ---- EBITDA excluding other costs $ 42 $ 46 $ 50 $ 131 $ 140 ==== ==== ==== ==== ==== EBITDA % excluding other costs (4) 6.9% 7.8% 7.9% 7.3% 7.9% NET INCOME ATTRIBUTABLE TO DNOW INC. TO NON-GAAP NET INCOME ATTRIBUTABLE TO DNOW INC. EXCLUDING OTHER COSTS RECONCILIATION (UNAUDITED) (In millions) Three Months Ended Nine Months Ended ----------------------------- ------------------ September 30, June 30, September 30, ----------------- ---------- ------------------ 2024 2023 2024 2024 2023 ----- ---- ------ ---- ---- GAAP net income attributable to DNOW Inc. (1) $ 13 $ 35 $ 24 $ 58 $ 100 Other, net of tax (5) (6) 9 (7) 4 15 (17) ----- ---- ------ ---- ---- Net income attributable to DNOW Inc. excluding other costs (6) $ 22 $ 28 $ 28 $ 73 $ 83 ===== ==== ====== ==== ==== DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO DNOW INC. STOCKHOLDERS TO NON-GAAP DILUTED EARNINGS PER SHARE ATTRIBUTABLE TO DNOW INC. STOCKHOLDERS EXCLUDING OTHER COSTS RECONCILIATION (UNAUDITED) Three Months Ended Nine Months Ended -------------------------- ------------------- September 30, June 30, September 30, -------------- ---------- ------------------- 2024 2023 2024 2024 2023 ---- ----- ------ ---- ----- GAAP diluted earnings per share attributable to DNOW Inc. stockholders (1) $0.12 $ 0.32 $ 0.21 $ 0.53 $ 0.90 Other, net of tax (5) (6) 0.09 (0.07) 0.04 0.14 (0.15) ---- ----- ------ ---- ----- Diluted earnings per share attributable to DNOW Inc. stockholders excluding other costs (6) $0.21 $ 0.25 $ 0.25 $ 0.67 $ 0.75 ==== ===== ====== ==== ===== (1) In an effort to provide investors with additional information regarding our results as determined by GAAP, we disclose various non-GAAP financial measures in our quarterly earnings press releases and other public disclosures. The non-GAAP financial measures include: (i) earnings before interest, taxes, depreciation and amortization (EBITDA) excluding other costs, (ii) net income attributable to DNOW Inc. excluding other costs and (iii) diluted earnings per share attributable to DNOW Inc. stockholders excluding other costs. Each of these financial measures excludes the impact of certain other costs and therefore has not been calculated in accordance with GAAP. A reconciliation of each of these non-GAAP financial measures to its most comparable GAAP financial measure is included in the schedules herein. (2) Net income attributable to noncontrolling interest represents the income retained by the noncontrolling party of a joint venture in our international segment which we consolidate into our financials as we are the primary beneficiary and controlling member. (3) Other includes certain income and expenses and does not include stock-based compensation expense. For the three months ended September 30, 2024, Other was primarily related to the International restructuring charges of $8 million, of which approximately $5 million of foreign currency translation losses included in impairment and other charges, approximately $2 million of inventory write-downs included in cost of products and $1 million of other exit costs included in warehousing, selling and administrative; additionally, Other also included transaction-related charges of approximately $2 million recorded in warehousing, selling and administrative. For the nine months ended September 30, 2024, Other included the International restructuring charges of $8 million mentioned above as well as transaction-related charges of approximately $10 million, of which $5 million were included in cost of products and approximately $5 million included in warehousing, selling and administrative. Transaction-related charges include transaction costs, inventory fair value step-up, retention bonus accruals and integration expenses associated with acquisitions. (4) EBITDA % excluding other costs is defined as EBITDA excluding other costs divided by Revenue. (5) Other, net of tax includes certain income and expenses and does not include stock-based compensation expense. For the three and nine months ended September 30, 2024, Other, net of tax, included approximately $9 million and $15 million, respectively, related to transaction-related and International restructuring charges. (6) Totals may not foot due to rounding.

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