Q1 25 EPS
$0.22
BEAT +26.95%
Est. $0.17
Q1 25 Revenue
$599.0M
BEAT +2.02%
Est. $587.2M
vs S&P Since Q1 25
-41.3%
TRAILING MARKET
DNOW -10.6% vs S&P +30.7%
Market Reaction
Did DNOW Beat Earnings? Q1 2025 Results
DNOW Inc. Kicked off 2025 with a notably strong first quarter, posting non-GAAP adjusted diluted EPS of $0.22 against a consensus estimate of $0.17, a beat of roughly 26.95%, while revenue of $599.00 million topped forecasts by 2.02% and grew 6.4% ye… Read more DNOW Inc. Kicked off 2025 with a notably strong first quarter, posting non-GAAP adjusted diluted EPS of $0.22 against a consensus estimate of $0.17, a beat of roughly 26.95%, while revenue of $599.00 million topped forecasts by 2.02% and grew 6.4% year-over-year. The primary engine behind the results was a resurgent U.S. Segment, which generated $474.00 million in revenue compared to $435.00 million a year earlier, reflecting broad-based demand across the company's distribution network. EBITDA excluding other costs reached $46.00 million, or 7.7% of revenue, the company's second-best first-quarter margin on record. A deliberate $33.00 million inventory build weighed on operating cash flow but is designed to position DNOW favorably amid tariff-driven supply chain uncertainty. With $219.00 million in cash, zero long-term debt, and roughly $567.00 million in total liquidity, CEO David Cherechinsky acknowledged the difficult-to-predict environment around oil prices and trade disruptions, while expressing confidence in the company's capacity to pursue both organic growth and acquisitions from a position of financial strength.
Key Takeaways
- • 5% sequential revenue growth despite fewer operating rigs and completions
- • Second-best first-quarter EBITDA excluding other costs of $46 million at 7.7% of revenue
- • Strong U.S. segment revenue growth of 9% year-over-year
- • Strategic inventory investment of $33 million for anticipated organic growth
DNOW YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
DNOW Revenue by Segment
With YoY comparisons, source: SEC Filings
DNOW Revenue by Geography
With YoY comparisons, source: SEC Filings
“Following our second-best fourth quarter in history, we beat first-quarter expectations with revenue growth of 5% sequentially to $599 million, and delivered our second-best first-quarter EBITDA of $46 million, in a market with fewer operating rigs and completions.”
— David Cherechinsky, Q1 2025 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% |