Now (DNOW) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Apr 30, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.14

Last Year’s EPS

0.22

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 2 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 20, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presents a mixed but cautiously constructive outlook. Positive takeaways include the completed merger that materially expands scale and addressable markets, full-year revenue growth (+19% YoY) and strong adjusted EBITDA ($209M), record legacy DNOW profitability (EBITDA $199M, 8.2% margin), healthy liquidity and positive operating cash flow. Early cost-synergy realization ($23M year-one) and traction on revenue synergies (cross-selling, data center entry) are encouraging. Offsetting these positives are material and ongoing operational disruptions from an Oracle ERP implementation at legacy MRC Global U.S. that have driven sequential revenue declines, significant Q4 merger-related charges (net loss of $147M) and elevated working capital/inventory levels, which led management to delay 2026 guidance. Management has mobilized remediation teams, is fast-tracking system stabilizations and is executing tactical mitigations (routing projects through DNOW systems, help desk support, temporary staffing), but uncertainty remains until ERP issues are resolved. Overall, the fundamentals (cash, scale, margin track record, synergy upside) are supportive, yet near-term execution risk from ERP and integration-related costs tempers confidence.

Company Guidance

DNOW said it is delaying sequential and full‑year 2026 guidance due to persistent ERP issues in legacy MRC Global U.S. operations and the early stage of integration, and will reinstate guidance once MRC U.S. operations achieve operational stability and predictability; in the meantime management provided several quantifiable planning metrics: a three‑year cost‑synergy target of $70.0M with an updated expectation of $23.0M in cost savings by the end of year one (versus the prior $17.0M for 2026), a projected 2026 effective tax rate of roughly 26%–27%, modeled working capital (ex‑cash) to approach ~25% of revenue (versus 29.7% at year‑end 4Q and legacy ~15.0%–15.8%), target deleveraging toward net cash from a year‑end net debt of $247.0M (1.2x leverage) and total debt of $411.0M, ample liquidity of $588.0M (cash $164.0M + $424.0M available on the credit facility), expected 2026 cash generation in the ~$100M–$200M range, and continued capital discipline (FY‑2025 cash from operations $155.0M, capex $25.0M); they also highlighted FY‑2025 and Q4 results that shape near‑term expectations—FY‑2025 revenue $2.8B, Q4 revenue $959.0M, adjusted EBITDA FY‑2025 $209.0M (7.4% of revenue) and Q4 $61.0M (6.4%), legacy DNOW record EBITDA $199.0M (8.2% of revenue), adjusted Q4 net income $23.0M ($0.15/share) versus a GAAP Q4 net loss of $147.0M (including ~$50.0M transaction costs, $12.0M CTA charge and $135.0M inventory step‑up with ~$41.0M remaining), inventory $1,192.0M (4Q annualized turns ~3x), A/R $174.0M (DSO 83 days; legacy DNOW DSO 63 days), A/P $603.0M, and a reactivated $160.0M share repurchase program (prior $100.0M program had $37.0M repurchased, including $10.0M in 4Q).

Merger with MRC Global Completed and Strategic Scale Expansion

Merger closed on November 6, 2025, materially increasing scale, geographic footprint and sector diversification (upstream, midstream, gas utilities, downstream, industrial). Management expects long-term value creation from combined purchasing power, expanded addressable market and operational efficiencies; cost synergy target remains $70,000,000 over three years with accelerated year-one savings now expected to reach $23,000,000 (vs prior $17,000,000 plan for 2026).

Full-Year Revenue Growth

Consolidated full-year 2025 revenue of $2,800,000,000, up $447,000,000 or 19% year-over-year. Fourth-quarter revenue reported as $959,000,000, up ~51% (driven by $388,000,000 MRC Global stub period contribution). This represents DNOW's fifth consecutive year of revenue growth (with and without MRC contribution).

Strong Adjusted EBITDA and Record Legacy DNOW Profitability

Adjusted EBITDA for full-year 2025 was $209,000,000 (7.4% of revenue). Fourth-quarter adjusted EBITDA was $61,000,000 (6.4% of revenue). Legacy DNOW (standalone) delivered a record full-year EBITDA of $199,000,000 and EBITDA margin of 8.2%, its best annual profitability since going public.

Healthy Liquidity and Manageable Leverage

Year-end liquidity of $588,000,000 (cash $164,000,000 plus $424,000,000 available on the credit facility). Net debt of $247,000,000 and leverage ratio of 1.2x with total debt of $411,000,000. Credit facility capacity of $850,000,000 extends into November 2028.

Positive Cash Generation and Capital Allocation Discipline

Full-year cash provided by operating activities of $155,000,000 (Q4 operating cash flow $83,000,000). Full-year capital expenditures $25,000,000. Management reactivated a $160,000,000 share repurchase authorization and repurchased $10,000,000 in Q4 (cumulative repurchases $37,000,000 under prior $100,000,000 program).

International Growth and New End-Market Wins (Data Centers)

Legacy MRC Global International achieved four consecutive years of growth averaging ~10% annual growth to 12/31/2025 and delivered its strongest year since 2018. DNOW expanded into data centers (entered Jan 2025) and is supplying core PVF and pump products to 11 customers across four data center markets, creating incremental industrial opportunities.

Early Revenue Synergies and Cross-Sell Traction

Post-merger cross-selling and inventory access are already generating benefits: improved win rates driven by expanded in-house inventory, reduced lead times via in-house valve automation, and initial process solutions engagement (pumps, valve actuation, measurement & instrumentation) targeting downstream, midstream and gas utility opportunities.

Now (DNOW) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DNOW Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 30, 2026	2026 (Q1)	0.14 / -	0.22	―	―	―
Feb 20, 2026	2025 (Q4)	0.15 / 0.15	0.25	-40.00% (-0.10)
Sep 30, 2025	2025 (Q3)	0.23 / 0.26	0.21	23.81% (+0.05)	―	―
Aug 06, 2025	2025 (Q2)	0.21 / 0.27	0.25	8.00% (+0.02)
May 07, 2025	2025 (Q1)	0.17 / 0.22	0.21	4.76% (+0.01)
Feb 13, 2025	2024 (Q4)	0.13 / 0.25	0.22	13.64% (+0.03)
Nov 07, 2024	2024 (Q3)	0.21 / 0.21	0.25	-16.00% (-0.04)
Aug 07, 2024	2024 (Q2)	0.24 / 0.25	0.25	0.00% (0.00)
May 10, 2024	2024 (Q1)	0.23 / 0.21	0.25	-16.00% (-0.04)
Feb 15, 2024	2023 (Q4)	0.17 / 0.22	0.25	-12.00% (-0.03)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DNOW Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 20, 2026	$16.36	$13.23	-19.13%
Sep 30, 2025	$15.24	$15.25	+0.07%
Aug 06, 2025	$15.24	$14.10	-7.48%
May 07, 2025	$16.03	$14.66	-8.55%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Now (DNOW) report earnings?

Now (DNOW) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).

What is Now (DNOW) earnings time?

Now (DNOW) earnings time is at Apr 30, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is DNOW EPS forecast?

DNOW EPS forecast for the fiscal quarter 2026 (Q1) is 0.14.