NYSE$DNOW
DNOW Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported resilient earnings with strong gross margins due to product mix optimization and proactive pipe product line management. Benefited from energy evolution and market-adjacent strategies, particularly U.S. Process Solutions expansion and increased EcoVapor product sales.
NOW Inc. reported third-quarter revenue of $588 million and net income of $35 million, or $0.32 per diluted share. Non-GAAP net income was $28 million, or $0.25 per diluted share. The company's earnings proved resilient, producing the best year-to-date earnings since becoming a public company.
- Revenue for Q3 2023 was $588 million.
- Net income attributable to NOW Inc. was $35 million.
- Diluted earnings per share attributable to NOW Inc. stockholders was $0.32.
- Cash and cash equivalents totaled $194 million with zero long-term debt.
Headline financials
Revenue & EPS history
NOW · Revenue · Quarterly
$588M
Forward guidance
The company anticipates growth in the U.S. market next year as customers reset their budgets and energy evolution projects accelerate, supported by strong oil prices averaging near $80 over the last twelve months.
Tailwinds
- U.S. market is expected to resume a growth path next year.
- Customers are resetting their budgets.
- Energy evolution projects are accelerating.
- Strong oil prices are averaging near $80 over the last twelve months.
- Focus is on leveraging debt-free balance sheet with $547 million of total liquidity.
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 Q3 2023
+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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