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Energy distributor DNOW Q3 profit beats estimates on growth across segments

By Reuters News


Overview

  • U.S. energy distributor's Q3 revenue was $1.34 bln, a slight miss versus analyst expectations

  • Adjusted EPS for Q3 beat analyst expectations

  • Company repurchased $17 mln in stock during the quarter


Outlook

  • Company sees improving end-market fundamentals and positive outlook across its business

  • DNOW says it is well positioned to gain market share and expand profitability

  • Company did not provide specific financial guidance for upcoming quarters or full year


Result Drivers

  • SEGMENT GROWTH - Co said sequential sales growth across all geographic segments, with downstream, industrial, midstream and gas utilities businesses contributing

  • WORKING CAPITAL VELOCITY - Co attributed strong cash flow to improved working capital velocity

  • BALANCE SHEET IMPROVEMENT - Co said reduced net debt leverage ratio improved financial flexibility


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Miss*

$1.34 bln

$1.35 bln (6 Analysts)

Q3 Adjusted EPS

Beat

$0.18

$0.14 (6 Analysts)

Q3 Adjusted Net Income

$34 mln

Q3 Net Income

$26 mln

Q3 Adjusted EBITDA

$76 mln

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Reuters Recommended Reads

  • Nov 3 - USA Compression Q3 revenue beats estimates on fleet expansion, higher pricing

  • Nov 2 - Canada's Gibson Energy Q3 adjusted EBITDA beats estimates, hits record

  • Nov 3 - Marathon Petroleum Q3 adjusted EPS beats estimates on higher crack spreads


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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