Q2 26 EPS
$N/A
Q2 26 Revenue
N/A
vs S&P Since Q2 26
-4.9%
TRAILING MARKET
DNOW -4.7% vs S&P +0.2%
Market Reaction
Did DNOW Beat Earnings? Q2 2026 Results
DNOW Inc. Delivered a mixed first quarter for fiscal 2026, posting a substantial revenue beat while falling well short on earnings as integration costs from its MRC Global acquisition weighed heavily on the bottom line. Revenue surged 97.5% year-over… Read more DNOW Inc. Delivered a mixed first quarter for fiscal 2026, posting a substantial revenue beat while falling well short on earnings as integration costs from its MRC Global acquisition weighed heavily on the bottom line. Revenue surged 97.5% year-over-year to $1.18 billion, clearing the $1.07 billion consensus estimate by 10.90%, as the MRC Global combination effectively doubled the company's scale. Profitability, however, told a different story: adjusted EPS came in at just $0.01, missing the $0.06 consensus by 83.33%, dragged down primarily by $41.00 million in inventory step-up amortization charges tied to the MRC Global deal, a $16.00 million LIFO reserve increase, and SG&A expenses that more than doubled to $243.00 million from $109.00 million a year ago. On a GAAP basis, DNOW recorded a net loss of $44.00 million, compared to net income of $21.00 million in Q1 2025. Adjusted EBITDA margin compressed to 3.3% from 7.7%, though management indicated synergy capture is running ahead of schedule.
Key Takeaways
- • First full quarter with MRC Global, roughly doubling the company's revenue base
- • Sequential revenue growth in midstream and gas utility sectors
- • Early traction from new data center related awards
- • Integration synergies captured ahead of schedule
DNOW YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
DNOW Revenue by Segment
With YoY comparisons, source: SEC Filings
DNOW Revenue by Geography
With YoY comparisons, source: SEC Filings
“I am pleased with our achievements in the quarter as we completed our first full quarter with MRC Global. We advanced the integration of our upstream and midstream operations, delivered sequential revenue growth in the midstream and gas utility sectors and are beginning to see early traction from new data center related awards.”
— David Cherechinsky, Q2 2026 Earnings Press Release
DNOW Earnings Trends
DNOW vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DNOW EPS Trend
Earnings per share: estimate vs actual
DNOW Revenue Trend
Quarterly revenue: estimate vs actual
DNOW Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 MISS | $0.06 | $0.01 | -83.33% | $1.18B | +10.90% |
| Q4 25 BEAT FY | $0.15 | $0.15 | +0.00% | $959.0M | -1.08% |
| FY Full Year | — | $0.86 | — | $2.82B | — |
| Q3 25 MISS | $0.23 | $0.23 | -1.41% | $634.0M | -0.49% |
| Q2 25 BEAT | $0.21 | $0.27 | +26.58% | $628.0M | +2.50% |
| Q1 25 BEAT | $0.17 | $0.22 | +26.95% | $599.0M | +2.02% |