NOW Inc. Reports $547 Million in 4Q Revenue - Modern Distribution Management

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NOW Inc. Reports $547 Million in 4Q Revenue

For all of 2022, the company reported $2.13 billion in revenue, according to NOW Inc.'s 4Q 2022 earnings announcement.

On Feb. 16, Houston-based NOW Inc. — a supplier of energy and industrial products and packaged, engineered process and production equipment that does business under its DistributionNOW brand — reported $547 million in revenue for the fourth quarter of 2022.

The revenue amount was a slight decrease from the $577 million reported in 2022’s third quarter, but it surpassed the $432 million reported in the fourth quarter of 2021.

For all of 2022, NOW Inc. reported more than $2.13 billion in total revenue, topping 2021’s total of $1.63 billion.

“I am thrilled about our strong fourth quarter results, which capped off a stellar, record year for DNOW on many fronts,” said David Cherechinsky, President and CEO of NOW Inc. “For the year, we achieved revenue growth of $504 million or 31% compared to 2021, without consuming cash from operations, as we turned working capital seven times, delivered impressive gross margins of 23.7% and generated $175 million in EBITDA excluding other costs, or 8.2% of revenue.”

For MDM’s 2022 list of Top Distributors, NOW Inc. ranked No. 20 for Industrial Distributors and No. 4 for PVF.

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