Now Inc ( (DNOW) ) has released its Q3 earnings. Here is a breakdown of the information Now Inc presented to its investors.
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DNOW Inc. is a global supplier of energy and industrial products, offering engineered process and production equipment, with a significant presence in digital commerce solutions under the brand DigitalNOW®. With headquarters in Houston, Texas, the company serves various sectors including energy transition and renewables.
In the third quarter of 2024, DNOW Inc. demonstrated robust financial performance despite industry challenges. The company reported a revenue of $606 million and a net income of $13 million, equating to $0.12 per diluted share. Excluding certain costs, non-GAAP net income was reported at $22 million or $0.21 per diluted share.
Key financial highlights for the quarter included an EBITDA of $42 million, constituting 6.9% of the revenue, and an impressive cash flow from operations amounting to $74 million. The company also engaged in a share repurchase program, buying back $7 million worth of stock, and ended the quarter with $261 million in cash and no long-term debt, reflecting strong liquidity and financial stability.
Looking ahead, DNOW Inc. is poised for growth with a clear strategy involving capital deployment and efficiency improvements. The management remains optimistic about continuing to deliver value to shareholders through strategic initiatives, including completing an $80 million share repurchase program by the end of the year.
