DNOW Inc. - DNOW STOCK NEWS

NOW Inc. (NYSE:DNOW) announced an amendment to its senior secured credit facility with Wells Fargo as the administrative agent. Key changes include an extended maturity date to December 14, 2026, a $500 million global revolving credit facility potentially expandable to $750 million, and an increase in borrowing capacity through pledged cash deposits. Additionally, the interest rate on certain loans will decrease by 0.250% when the Fixed Charge Coverage Ratio is ≤1.50 to 1.00. CEO David Cherechinsky expressed optimism regarding the improved terms and strategic flexibility for growth.

NOW Inc. (NYSE: DNOW) reported Q3 2021 results with revenues of $439 million and net income of $5 million. Non-GAAP net income was $6 million, with diluted earnings per share at $0.05. The company achieved a 10% sequential revenue growth and generated $22 million in free cash flow. Although they expect 2021 revenue to remain stable, EBITDA is projected to improve to $90 million due to better margins and reduced costs, paving the way for a strong 2022 amidst global supply chain challenges.

NOW Inc. (NYSE:DNOW) will hold a conference call on November 3, 2021, at 8:00 am (CST) to discuss its third-quarter financial results, expected to be released before the market opens. The company, a leading distributor for energy and industrial markets with over 150 years of history, operates under the DistributionNOW and DNOW brands. With around 195 locations and 2,450 employees globally, NOW Inc. provides products and solutions across various energy sectors, including upstream, midstream, and downstream markets.

NOW Inc. (NYSE:DNOW) has appointed Sonya Reed to its Board of Directors effective August 11, 2021. Reed brings extensive experience, having held senior roles in human resources at Phillips 66 and General Cable. Her term will extend until the 2022 annual stockholders' meeting. This appointment aligns with the company's commitment to enhancing diversity on its board, which now comprises eight directors, including two women. The company operates as a leading distributor to energy and industrial markets, with a global presence of around 195 locations and 2,450 employees.

NOW Inc. (NYSE:DNOW) has announced the resignation of Wayne Richards from its board of directors, effective August 10, 2021, due to personal reasons. This resignation was described as amicable, with no disagreements on company matters. Dick Alario, Chairman of the Board, expressed gratitude for Richards' contributions to the company since its spin-off, acknowledging his significant role as a founding member and former Chairman. NOW Inc. remains a key player in the energy and industrial markets, operating approximately 195 locations globally.

NOW Inc. (NYSE: DNOW) reported a second-quarter revenue of $400 million for the period ending June 30, 2021. While they experienced a net loss of $2 million, the company achieved a sequential revenue growth of 11% and non-GAAP EBITDA of $6 million. Cash reserves stood at $293 million with no long-term debt. The President and CEO highlighted strategic gains leading to record gross margins and the potential for organic and inorganic growth, backed by total liquidity of $528 million.

NOW Inc. (NYSE:DNOW) will host a conference call on August 4, 2021, at 8:00 AM (CT) to discuss its second-quarter results for 2021. The financial results for the quarter ending June 30, 2021, will be released that morning before the market opens. Interested participants can access the call via the Investor Relations section on NOW Inc.'s website or by dialing in. NOW Inc. is a leading distributor to energy and industrial markets, operating approximately 195 locations globally with 2,450 employees.

NOW Inc. (NYSE: DNOW) reported its first-quarter results for 2021, highlighting revenue of $361 million and a net loss of $10 million. Non-GAAP net loss was $5 million with diluted loss per share at $0.09. The company achieved significant progress, reaching break-even EBITDA a quarter ahead of schedule. Cash and cash equivalents totaled $374 million with zero long-term debt, providing financial flexibility. A recent acquisition further supports growth strategies, including investments in DigitalNOW technologies.

NOW Inc. (NYSE: DNOW) finalized the acquisition of Flex Flow from GR Energy Services for $90 million, enhancing its product range in horizontal pumping solutions. The acquisition adds a fleet of 240 trailer-mounted H-pump units and strengthens DNOW's presence in key midstream markets including Permian and Canada’s Montney. The deal includes potential additional payments based on Flex Flow's profitability in the following year. The integration aims to provide comprehensive service offerings and improved customer solutions, bolstering DNOW's competitive position.