NOW Inc. Sales Down 19.9% in 1Q - Modern Distribution Management

Log In

NOW Inc. Sales Down 19.9% in 1Q

First quarter U.S. sales down 15 percent year-over-year.
Author
Date

NOW Inc. (NYSE: DNOW), Houston, TX, reported sales for the first quarter of $863 million, down 19.9 percent year-over-year. The company reported a loss of $10 million for the quarter, compared to a profit of $41 million in the prior year quarter.

First quarter sales in the U.S. were $601 million, down 15 percent year-over-year, while sales in Canada decreased 39 percent to $116 million. International sales were down 20 percent to $146 million.

"The first quarter of 2015 was a period of rapid decline in North American rig count, and as a result, the Company’s revenues and product margins were impacted accordingly," said Robert Workman, president and CEO.

In the first quarter, the company also completed the acquisition of UK-based John MacLean & Sons Electrical, a distributor of marine and industrial electrical products, lighting systems and cables. Now Inc. also acquired U.S.-based Machine Tools Supply, a cutting tool and machine shop specialist providing comprehensive inventory management programs.

The company has made seven acquisitions since its spin-off in 2014, adding over 450 employees.

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.