NOW Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 11:45 am
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NOW Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 594 million compared to USD 539 million a year ago. Net income was USD 34 million compared to USD 26 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.23 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.23 a year ago.
For the six months, sales was USD 1,178 million compared to USD 1,012 million a year ago. Net income was USD 65 million compared to USD 56 million a year ago. Basic earnings per share from continuing operations was USD 0.59 compared to USD 0.5 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.5 a year ago.
DNOW Inc. is a global supplier of energy and industrial products and packaged, engineered process and production equipment. It offers a set of supply chain solutions combined with a suite of digital solutions branded as DigitalNOW that provides technology for digital commerce, data, and information management. Its product and service offerings are consumed throughout all sectors of the energy industry, from upstream drilling and completion, exploration and production, midstream transmission, gas and crude oil processing infrastructure development to downstream petroleum refining and petrochemicals. Its global product offering includes consumable maintenance, repair and operating (MRO) supplies, pipe, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical, instrumentation, artificial lift, pumping solutions and modular process, production, measurement, and control equipment. It also offers sourcing, procurement, warehouse, and inventory management solutions.