财务数据和关键指标变化 - 第三季度营收3.26亿美元，环比下降12%，优于公司预期的中低双位数降幅[20] - 毛利率环比提升60个基点至19%，主要受益于产品组合优化和定价策略调整[21][44] - 自由现金流5700万美元，现金储备创纪录达3.25亿美元且无负债[24][49] - 净亏损2200万美元，非GAAP调整后亏损1700万美元[49] 各条业务线数据和关键指标变化 - 美国能源业务收入环比下降7%，主要因客户推迟项目和钻探活动减少[41] - 美国工艺解决方案业务收入环比下降28%，受客户库存消化影响[41] - 加拿大业务收入环比增长17%（剔除一次性项目后）[43] - 国际业务收入环比下降13%，受中东和欧洲疫情限制影响[44] 各个市场数据和关键指标变化 - 美国市场收入2.28亿美元，环比下降12%[39] - 加拿大市场收入4200万美元，环比增长3%[43] - 国际市场收入5600万美元，环比下降19%[44] 公司战略和发展方向和行业竞争 - 战略聚焦三大方向：终端市场扩张、数字化颠覆、运营模式转型[14] - 通过并购整合机会扩大上游市场份额，近期6起行业并购中涉及3家核心客户[19][85] - 数字化平台DigitalNOW贡献约1/3全球营收，大客户渗透率达56%[94] - 推出eSpec数字产品配置工具和生命周期资产管理方案等新功能[36][37] 管理层对经营环境和未来前景的评论 - 判断美国油服行业已在第三季度触底，但需求复苏仍受疫情不确定性影响[12][56] - 预计第四季度收入季节性环比下降高个位数百分比，符合历史规律[55][72] - 目标2021年上半年实现盈亏平衡，长期EBITDA利润率目标5%+[66][69] - 行业面临区域性竞争对手的激进定价压力，但判断为短期现象[22][83] 其他重要信息 - 发布首份可持续发展报告，强化ESG披露[11] - 年内累计关闭45个设施，员工总数从4400人缩减至2550人[48] - 出售英国区域照明业务完成资产剥离[46][58] - 获得市政水务、采矿等新兴领域订单，非能源业务占比不足3%[25][75] 问答环节所有的提问和回答 毛利率展望 - 预计年末前库存减值维持高位，正常水平应为营收0.5%-1%[62][63] - 长期毛利率基准20%+，但短期受区域竞争和项目减少影响[64][83] 成本结构优化 - 全年WS&A指引3.95亿美元，较2019年削减超1.4亿美元[48][89] - 计划通过中心化履约模式进一步优化分支网络[66][93] 业务多元化进展 - 市政水务和采矿业务当前占比小但增长潜力显著[75] - 泵设备后市场服务成为新增长点，获大型E&P预防性维护订单[26] 资本管理 - 工作资本占营收比例从2019年80%降至22%，仍有改善空间[78] - 保持并购审慎态度，当前评估多个标的但强调估值纪律[57][58]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36325 NOW INC. (Exact name of registrant as specified in its charter) Delaware 46-4191184 (State or other jurisdiction of (I.R.S. Employer incorporation or or ...

NOW Inc. (NYSE:DNOW) Q2 2020 Earnings Conference Call August 5, 2020 9:00 AM ET Company Participants Brad Wise - Vice President, Marketing and Investor Relations Dave Cherechinsky - President and Chief Executive Officer Mark Johnson - Senior Vice President and Chief Financial Officer Conference Call Participants Vaibhav Vaishnav - Scotiabank Nathan Jones - Stifel Steve Barger - KeyBanc Capital Markets Sean Meakim - JPMorgan Doug Becker - Northland Capital Jon Hunter - Cowen Operator Good morning, and welcom ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36325 NOW INC. (Exact name of registrant as specified in its charter) Delaware 46-4191184 (State or other jurisdiction of (I.R.S. Employer incorporation or organiz ...

NOW Inc. (NYSE:DNOW) Q1 2020 Earnings Call May 6, 2020 9:00 AM ET Company Participants David Cherechinsky - Senior Vice President and Chief Financial Officer Dick Alario - Interim Chief Executive Officer Conference Call Participants Jon Hunter - Cowen Steve Barger - KeyBanc Sean Meakim - JPMorgan Blake Hirschman - Stephens Andres Menocal - Evercore ISI Operator Good morning and welcome to the First Quarter 2020 Earnings Conference. My name is Brandon and I'll be your operator for today. At this time, all pa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36325 NOW INC. (Exact name of registrant as specified in its charter) Delaware 46-4191184 (State or other jurisdiction of (I.R.S. Employer incorporation or organi ...

NOW Inc. (NYSE:DNOW) Q4 2019 Earnings Conference Call February 19, 2020 9:00 AM ET Company Participants Dave Cherechinsky - SVP and CFO Dick Alario - Interim CEO Conference Call Participants Blake Hirschman - Stephens Inc. Walter Liptak - Seaport Global Sean Meakim - JPMorgan Steve Barger - KeyBanc Capital Markets Jon Hunter - Cowen Operator Welcome to the DistributionNOW Fourth Quarter 2019 and Year End Earnings Call. My name is John, and I'll be your operator for today's call. At this time, all participan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE YEAR ENDED DECEMBER 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-36325 NOW INC. (Exact name of registrant as specified in its charter) Delaware 46-4191184 (State of Incorporation) (IRS Identification No.) 7402 North Eldridge Parkway, Houst ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36325 NOW INC. (Exact name of registrant as specified in its charter) Delaware 46-4191184 (State or other jurisdiction of (I.R.S. Employer incorporation or or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-36325 NOW INC. (Exact name of registrant as specified in its charter) Delaware 46-4191184 (State or other jurisdiction of (I.R.S. Employer incorporation or organiz ...