NOW Inc., which reported a loss of $30 million for the quarter and a loss of $361 million for the first six months of 2020, is enacting cost-reduction measures.
Latest In NOW Inc.
The company reported a loss of $331 million for the quarter, compared with a profit of $18 million a year ago.
For the first nine months, sales were reported at $2.3 billion, down 2.2% from the same period in 2018.
Dick Alario takes over as interim CEO, replacing Robert Workman, effective immediately.
Profit was $18 million for the quarter, compared with $2 million a year ago.
Distributor posts strong fourth quarter and full year, despite moderating economic conditions.
Year-to-date sales increase 19.4 percent.
Sales for the first six months increased 20.2 percent year-over-year.
Fourth quarter sales increase 24.3 percent.
Daniel Molinaro, currently CFO and senior vice president, will serve as executive vice president.
Sales for the first nine months increased 26.1 percent year-over-year.
Company reports loss of $17 million for the quarter.
First quarter U.S. sales up 22.9 percent year-over-year.
National Oilwell Varco, NOW Inc. also report positive outlook for activity, but remain cautious.
Fourth quarter sales decrease 16.5 percent.
Year-to-date sales down 33.7 percent year-over-year.
Company reports loss of $44 million for the quarter.
First quarter U.S. sales down 40.6 percent year-over-year.
Acquisition strengthens company's offerings.
Oil & gas slump decimates Houston distributors' 4Q revenues.
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