Companies /Industrials

NOW Inc

NYSE: DNOW Industrial Distribution
$16.28
â–² $0.29 (+1.81%) today
Markets closed · 8:09pm ET

Q3 2025 Earnings

Reported Nov 5, 2025, 6:54am ET · SEC source
$0.23
Miss −1.41%
EPS · est. $0.23
$634.0M
Miss −0.49%
Revenue · est. $637.1M
−6.0%
Trailing market
DNOW vs S&P since report
1 quarter
Consecutive EPS beats

Market Reaction

% change · around the report
−6%0+6%+12%Nov 5Nov 6report 6:54am ETearnings−0.4%−3.9%
−6%0+6%+12%Nov 5Nov 6earnings−0.4%−3.9%
DNOW −3.9%S&P 500 −0.4%
−6%0+6%+12%Nov 5Nov 6report 6:54am ETearnings−0.5%−3.9%
−6%0+6%+12%Nov 5Nov 6earnings−0.5%−3.9%
DNOW −3.9%NASDAQ −0.5%
−10%−5%0+5%Nov 4Nov 12report 6:54am ETearnings+1.1%−11.2%
−10%−5%0+5%Nov 4Nov 12earnings+1.1%−11.2%
DNOW −11.2%S&P 500 +1.1%
−10%−5%0+5%Nov 4Nov 12report 6:54am ETearnings+0.3%−11.2%
−10%−5%0+5%Nov 4Nov 12earnings+0.3%−11.2%
DNOW −11.2%NASDAQ +0.3%
−0.27%
Day of report
−6.80%
Next session
−10.99%
One week
−5.15%
30 days

S&P 500 over the same 30 days: +0.89%.

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 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

“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.”

DNOW CEO, on the earnings call

Forward Guidance & Outlook

DNOW expects 2025 to represent its fifth consecutive year of growth and is forecasting its best full-year earnings ever as a public company in terms of total EBITDA results. The proposed merger with MRC Global Inc. is anticipated to close in Q4 2025, subject to closing conditions.

DNOW YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$200.0M$400.0M$600.0M$606.0M$634.0MRevenue$135.0M$145.0MGross Profit$23.0M$33.0MOperating Income$13.0M$25.0MNet Income
$0$200.0M$400.0M$600.0MRevenueGross ProfitOperating IncomeNet Income

DNOW Revenue by Segment

United States$527.0M
International$54.0M
Canada$53.0M

DNOW Revenue by Geography

United States$527.0M
Rest of World$54.0M
Canada$53.0M

Figures from SEC filings and company reports. Not investment advice.