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Headquarters: Houston, TX
2015 Revenues: $3 billion
Change in Sales from 2014: -26.7%
Acquisitions: Machine Tools Supply; Oaasis Group; North Sea Cables Norge AS; Odessa Pump & Equipment; Challenger Industries Inc.; Updike Supply Company; John MacLean & Sons Electrical
Key Executives: Robert R. Workman, president & CEO; Daniel L. Molinaro, CFO
NOW Inc.'s annual results are heavily impacted by the number of oil rigs active throughout its markets. In 2015, the worldwide average oil rig count declined 35 percent; in the U.S., it fell 47.5 percent. As a result, sales fell more than 26 percent for the year.
Even with the declines, NOW Inc. – operating as DistributionNOW – saw opportunities to make strategic acquisitions, many of which were focused on diversification.
"Given the lack of visibility into when this market will recover, our approach to 2016 will be to focus on what we can control," NOW Inc. management wrote in its 2015 10-K filing. "We plan to manage DistributionNOW based on market conditions, while also continuing to advance our long-term strategic goals."
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