DNOW Inc. reports Q4 adjusted EPS 22c, consensus 16c

Reports Q4 revenue $555M, consensus $540.82M. CEO David Cherechinsky added, “I am excited by our strong fourth quarter finish, capping off another stellar year. In 2023, revenues grew $185M, or 9%, while generating $184M in EBITDA excluding other costs, a record performance since becoming a public company, or 7.9% of revenue. U.S. Process Solutions delivered significant full-year double-digit revenue growth in each of our Power Service, Odessa Pumps, Flex Flow and EcoVapor businesses. Adding to our impressive top-line increase, we produced $171M in free cash flow, more than twice our original guidance provided last February, and we are targeting to generate $150M in 2024. I am thrilled about the agreement we reached to acquire Whitco Supply and believe this partnership will delight our customers, enhance earnings, free cash flow and shareholder value.”