Q3 25 EPS
$0.23
MISS 1.41%
Est. $0.23
Q3 25 Revenue
$634.0M
MISS 0.49%
Est. $637.1M
vs S&P Since Q3 25
-19.8%
TRAILING MARKET
DNOW -11.6% vs S&P +8.2%
Market Reaction
Did DNOW Beat Earnings? Q3 2025 Results
DNOW Inc. Fell just short of Wall Street's expectations in Q3 2025, posting earnings per share of $0.23 against a consensus estimate of $0.23, a miss of 1.41%, while revenue of $634 million trailed the $637.13 million estimate by 0.49%, sending share… Read more DNOW Inc. Fell just short of Wall Street's expectations in Q3 2025, posting earnings per share of $0.23 against a consensus estimate of $0.23, a miss of 1.41%, while revenue of $634 million trailed the $637.13 million estimate by 0.49%, sending shares lower in the immediate aftermath. Still, the underlying story carries genuine momentum: revenue grew 4.6% year-over-year, reaching the company's highest quarterly total since Q4 2019, powered chiefly by U.S. Segment revenue that climbed to $527 million from $482 million a year ago. The quarter was also shaped by roughly $4 million in transaction-related charges tied to the pending all-stock merger with MRC Global Inc., a deal valued at approximately $1.50 billion that both boards have unanimously approved and expect to close in Q4 2025, with projected annual cost synergies of $70 million. CEO David Cherechinsky signaled confidence in the path ahead, forecasting 2025 as the fifth consecutive year of revenue growth and the best full-year EBITDA result in the company's history as a public company, backed by $266 million in cash and zero long-term debt.
Key Takeaways
- • Highest level of revenue since Q4 2019
- • Strong U.S. segment revenue growth year-over-year
- • EBITDA excluding other costs margin improved to 8.0% from 6.9% YoY
- • Zero impairment charges in Q3 2025 vs $5 million in Q3 2024
- • Customer service focus and supply chain management innovation
DNOW YoY Financials
Q3 2025 vs Q3 2024, 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 proud of our DNOW team for the impressive results achieved in the third quarter, with $51 million in EBITDA, or 8.0% of revenue. We extended our strong performance into the third quarter, achieving our highest level of revenue since the fourth quarter of 2019.”
— David Cherechinsky, Q3 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% |