NYSE$DNOW
DNOW Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
DNOW reported first quarter 2024 results.
DNOW Inc. reported first quarter 2024 results with revenue of $563 million and net income of $21 million, or $0.19 per diluted share. The company completed the acquisition of Whitco Supply LLC for $185 million and generated strong free cash flow of $80 million towards its full-year target.
- Cash provided by operating activities was $81 million for the first quarter of 2024.
- Revenue was $563 million for the first quarter of 2024.
- Net income attributable to DNOW Inc. was $21 million, or $0.19 per diluted share, for the first quarter of 2024.
- Completed acquisition of Whitco Supply LLC for $185 million in cash.
Headline financials
Revenue & EPS history
NOW · Revenue · Quarterly
$563M
Forward guidance
DNOW is upgrading its 2024 full-year outlook to now grow revenue in the mid-to-high single digit percentage range, and sequentially expects second quarter revenue to increase ten to fifteen percent, assuming increased market activity.
Tailwinds
- Upgrading 2024 full-year outlook to grow revenue in the mid-to-high single digit percentage range.
- Expects second quarter revenue to increase ten to fifteen percent sequentially.
- Solid balance sheet
- Expanding diversified customer base
- Proactive approach to seizing value-enhancing acquisition opportunities
Headwinds
- Slow start to the first quarter
- Lower U.S. well completions
- Historically low natural gas prices
- Statements made in this press release that are forward-looking in nature are intended to be “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and may involve risks and uncertainties.
- These statements may differ materially from actual future events or results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+0.5%
Avg return
Earnings day
+1.0%
Avg return
5 days after
-0.8%
Avg return
30 days after
46%
23 / 50 earnings
Positive
+23.8%
Q4 2023
Best reaction
-19.2%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.3% | -1.0% | -2.1% | |
| Q4 2025 | -19.2% | -28.6% | -29.4% | |
| Q3 2025 | -0.3% | -10.1% | -4.5% | |
| Q1 2025 | -8.4% | -5.6% | -8.0% | |
| Q4 2024 | +20.1% | +24.4% | +5.4% | |
| Q3 2024 | +3.6% | +8.4% | +6.4% | |
| Q2 2024 | -8.8% | -11.3% | -14.4% | |
| Q1 2024 | -7.3% | -6.3% | -9.2% | |
| Q4 2023 | +23.8% | +29.1% | +47.1% | |
| Q3 2023 | -3.2% | -7.3% | -8.9% | |
| Q2 2023 | -10.0% | -5.1% | +2.1% | |
| Q1 2023 | -8.0% | -9.1% | -6.3% | |
| Q4 2022 | -6.9% | -11.0% | -27.9% | |
| Q3 2022 | -2.5% | -1.4% | -0.5% | |
| Q2 2022 | +1.7% | +1.4% | +5.9% | |
| Q1 2022 | -6.0% | -18.4% | -1.8% | |
| Q4 2021 | -1.2% | -1.9% | +3.1% | |
| Q3 2021 | +20.0% | +24.7% | +11.0% | |
| Q2 2021 | -17.8% | -20.0% | -21.7% | |
| Q1 2021 | +11.2% | +11.4% | +9.1% | |
| Q4 2020 | -6.6% | -2.8% | -1.2% | |
| Q3 2020 | +4.6% | +19.3% | +35.4% | |
| Q2 2020 | +3.9% | +7.5% | -16.4% | |
| Q1 2020 | -3.3% | +5.2% | +45.0% | |
| Q4 2019 | +0.8% | -7.9% | -41.0% | |
| Q3 2019 | +12.3% | +12.5% | +2.9% | |
| Q2 2019 | +3.8% | +5.9% | +4.0% | |
| Q1 2019 | +8.9% | +2.4% | -8.6% | |
| Q4 2018 | +10.5% | +12.0% | -0.1% | |
| Q3 2018 | +16.4% | +24.1% | +5.1% | |
| Q2 2018 | +17.7% | +18.1% | +16.9% | |
| Q1 2018 | +13.2% | +16.2% | +12.9% | |
| Q4 2017 | +5.0% | +0.0% | +7.0% | |
| Q3 2017 | -11.5% | -8.8% | -15.4% | |
| Q2 2017 | -16.2% | -16.9% | -24.7% | |
| Q1 2017 | -2.8% | +0.3% | -1.0% | |
| Q4 2016 | -9.0% | -10.2% | -25.8% | |
| Q3 2016 | -16.4% | -16.4% | +2.9% | |
| Q2 2016 | +10.1% | +15.0% | +14.6% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | +7.7% | — | — | |
| Q3 2015 | +4.1% | — | — | |
| Q2 2015 | +9.5% | — | — | |
| Q1 2015 | +2.1% | — | — | |
| Q4 2012 | -4.9% | — | — | |
| Q4 2014 | -4.1% | — | — | |
| Q3 2013 | -0.3% | — | — | |
| Q3 2014 | -1.9% | — | — | |
| Q2 2013 | +2.2% | — | — | |
| Q2 2014 | -8.1% | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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