NOW Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 06:45 am EDT
Share
NOW Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 588 million compared to USD 577 million a year ago. Net income was USD 35 million compared to USD 40 million a year ago. Basic earnings per share from continuing operations was USD 0.32 compared to USD 0.35 a year ago. Diluted earnings per share from continuing operations was USD 0.32 compared to USD 0.35 a year ago.
For the nine months, sales was USD 1,766 million compared to USD 1,589 million a year ago. Net income was USD 100 million compared to USD 96 million a year ago. Basic earnings per share from continuing operations was USD 0.91 compared to USD 0.85 a year ago. Diluted earnings per share from continuing operations was USD 0.9 compared to USD 0.85 a year ago.
DNOW Inc. is a global supplier of energy and industrial products and packaged, engineered process and production equipment. It offers a set of supply chain solutions combined with a suite of digital solutions branded as DigitalNOW that provides technology for digital commerce, data, and information management. Its product and service offerings are consumed throughout all sectors of the energy industry, from upstream drilling and completion, exploration and production, midstream transmission, gas and crude oil processing infrastructure development to downstream petroleum refining and petrochemicals. Its global product offering includes consumable maintenance, repair and operating (MRO) supplies, pipe, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical, instrumentation, artificial lift, pumping solutions and modular process, production, measurement, and control equipment. It also offers sourcing, procurement, warehouse, and inventory management solutions.