DistributionNOW Inc. (DNOW) Tops Q4 EPS by 5c

DistributionNOW Inc. (NYSE: DNOW) reported Q4 EPS of $0.11, $0.05 better than the analyst estimate of $0.06. Revenue for the quarter came in at $764 million versus the consensus estimate of $773.9 million.

Robert Workman, President and CEO of NOW Inc., added, “We are encouraged about delivering solid top line, bottom line and free cash flow results in 2018, in a market that has seen, for the most part, an uneven recovery. During the fourth quarter, we were able to sustain gross margin percent gains, improve operating efficiencies, generate $69 million in free cash flow and reduce net debt to $16 million.

For 2019, many in the industry are forecasting a year softer than last, especially in Canada. However, we expect the investments we made in completions- and LNG-levered acquisitions during the downturn, will help us offset these declines with 2019 revenue levels near our 2018 results to down slightly in the low single-digit range. We enter the year with a clean balance sheet, positioned to allocate capital towards further differentiating us from our competitors, should the opportunities present themselves in these uncertain market conditions.”

Prior to the earnings conference call a presentation titled “NOW Inc., Fourth Quarter 2018 Review & Key Takeaways” will be available on the Company’s Investor Relations website.

For earnings history and earnings-related data on DistributionNOW Inc. (DNOW) click here.

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