NOW Inc (DNOW) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $-0.40 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $-0.46. The company posted revenue of $501.00 million in the period, compared to analysts expectations of $458.37 million. The company’s revenue was down -33.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.
NOW Inc opened for trading at $18.13 and hit $18.27 on the upside on Tusday, eventually ending the session at $18.1, with a gain of 0.95% or 0.17 points. The heightened volatility saw the trading volume jump to 16,91,886 shares. Company has a market cap of $1,944 M.
NOW Inc. (NOW) is a global distributor to energy and industrial markets. The Company operates through three segments: United States (U.S.) Canada and International. The Company operates primarily under the DistributionNOW and Wilson Export brands. Its energy product offering is needed throughout all sectors of the oil and gas industry from upstream drilling and completion exploration and production (E&P) midstream infrastructure development to downstream petroleum refining as well as in other industries. It also provides supply chain management to drilling contractors E&P operators midstream operators downstream energy and industrial manufacturing companies around the world. The Company’s global product offering includes consumable maintenance repair and operating (MRO) supplies pipe valves fittings flanges electrical artificial lift solutions mill tools safety supplies and spare parts to support customers’ operations.