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Headquarters: Houston, TX
2016 Revenues: $2.1 billion
Change in Sales from 2015: -30%
2016 Acquisitions: Power Service
Key Executives: Robert R. Workman, president & CEO; Daniel L. Molinaro, CFO & vice president
Rig counts are up in the U.S., boosting DistributionNOW's optimism for the year ahead. While 2016 was a significant struggle, the distributor started seeing signs of a turnaround in the second half of the year, with global sales up sequentially in both the third and fourth quarters.
Sales in Canada were up 9 percent sequentially in the fourth quarter, the strongest growth posted by its geographic segments. The U.S. was up 2 percent sequentially.
Now that the top line is turning up, DistributionNOW says it will continue to focus on strengthening the bottom line, as well.