Reports Q4 revenue $547M, consensus $531.32M. CEO David Cherechinsky said, "I am thrilled about our strong Q4 results, which capped off a stellar, record year for DNOW on many fronts. For the year, we achieved revenue growth of $504M 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 $175M in EBITDA excluding other costs, or 8.2% of revenue…Entering 2023, we are in a great place as a company, remain debt-free with ample liquidity and are well positioned for continued growth and success. The highly talented women and men of DNOW show dedication, enthusiasm, resilience and a competitive spirit toward positioning our company to win the market."
Published first on TheFly
