Houston, TX, January 9, 2024 – NOW Inc. (NYSE: DNOW) announced today plans to change its corporate legal name to 'DNOW Inc.', effective January 19, 2024. The company's ticker symbol, 'DNOW', will remain unchanged.
"The decision to harmonize our name and brand is underpinned by our commitment to elevate and distinguish DNOW as a solutions-based products and services provider. We are widely recognized as DNOW and the change of the company's corporate legal name is a natural step in unifying our identity in the marketplace," stated David Cherechinsky, President and CEO of DNOW.
DNOW is a worldwide supplier of energy and industrial products and packaged, engineered process and production equipment with a legacy of over 160 years. Headquartered in Houston, Texas, with approximately 2,475 employees and a network of locations worldwide, the company offers a broad set of supply chain solutions combined with a suite of digital solutions branded as DigitalNOW® that provide customers world-class technology for digital commerce, data, and information management. Their locations provide products and solutions to exploration and production companies, midstream transmission and storage companies, refineries, chemical companies, utilities, mining, municipal water, manufacturers, engineering and construction companies, as well as companies operating in the decarbonization, energy transition, and renewables end markets.
In today's trading session, DNOW's stock moved 0.7%, reaching a price of $10.12 per share.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $3,127 | $2,951 | $1,619 | $1,632 | $2,136 | $2,313 |
| Revenue Growth | n/a | -5.63% | -45.14% | 0.8% | 30.88% | 8.29% |
| Operating Margins | 2% | -3% | -26% | 1% | 6% | 6% |
| Net Margins | 2% | -3% | -26% | 0% | 6% | 6% |
| Net Income (MM) | $52 | -$97 | -$427 | $5 | $128 | $132 |
| Net Interest Expense (MM) | $9 | $5 | $1 | $3 | $8 | -$2 |
| Depreciation & Amort. (MM) | $41 | $41 | $28 | $23 | $19 | $24 |
| Earnings Per Share | $0.47 | -$0.89 | -$3.91 | $0.05 | $1.13 | $1.19 |
| EPS Growth | n/a | -289.36% | -339.33% | 101.28% | 2160.0% | 5.31% |
| Diluted Shares (MM) | 109 | 109 | 109 | 110 | 111 | 108 |
| Capital Expenditures (MM) | $11 | $5 | $8 | $5 | $9 | $17 |
| Current Ratio | 2.76 | 2.69 | 3.17 | 2.39 | 2.32 | 2.44 |
