Every 10-Q that DNOW Inc. (DNOW) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DNOW and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DNOW filings page.
DNOW Inc. reported much higher scale in 2026 but weaker profitability. Revenue reached $1,307 million in the second quarter and $2,490 million for the first half, compared with $628 million and $1,227 million a year earlier, reflecting the November 2025 MRC Global acquisition and growth across upstream, gas utilities, downstream and midstream customers. Gross profit increased to $243 million in the quarter and $436 million year to date.
Selling, general and administrative expenses rose to $238 million in the quarter and $481 million for the first half, and an impairment charge plus higher other expense led to a net loss attributable to DNOW of $21 million in the quarter and $65 million year to date, versus net income of $14 million and $35 million in 2025; diluted EPS was a loss of $0.11 for the quarter and $0.35 for the first half. Cash declined to $114 million at June 30, 2026 while long‑term debt under the amended $850 million asset‑based credit facility increased to $474 million, with about $358 million of availability. Operating cash flow was $38 million in the first half, alongside $61 million used in investing activities and $24 million used in financing, including $75 million of share repurchases covering 6.1 million shares. DNOW also acquired Edge Controls for approximately $46 million, recording $27 million of goodwill and expanding its automation and controls offering, and continues to manage asbestos‑related and unclaimed‑property matters using accruals and insurance consistent with current assessments.
DNOW Inc. reported a sharp scale-up and a profit swing in the quarter ended March 31, 2026. Revenue nearly doubled to $1.18 billion from $599 million, mainly from the late‑2025 acquisition of MRC Global, with U.S. sales rising to $985 million.
Despite this growth, gross margin compressed to 16.3% and inventory-related transaction charges plus higher costs under the LIFO method pushed operating results to a $50 million loss and a $44 million net loss, versus prior‑year profit. Adjusted EBITDA declined to $39 million, while operating cash flow turned to a $95 million use, alongside higher debt and a $50 million share repurchase and a $46 million Edge Controls acquisition.
DNOW Inc. reported Q3 2025 results with revenue of $634 million and net income of $25 million ($0.23 diluted EPS), up from $606 million and $13 million a year ago. Operating profit rose to $33 million from $23 million.
Year to date, revenue reached $1.861 billion with net income of $72 million ($0.66 diluted EPS). The United States segment led with $527 million Q3 revenue and $28 million operating profit; Canada declined to $53 million revenue and $2 million operating profit; International delivered $54 million revenue and $3 million operating profit, improving versus last year when restructuring charges impacted results.
Liquidity remained strong with $266 million in cash and no borrowings on the $500 million revolver, leaving approximately $487 million in availability. Share repurchases are paused in connection with the pending all‑stock acquisition of MRC Global, in which MRC shareholders would receive 0.9489 DNOW shares per MRC share, anticipated to close in Q4 2025, subject to customary conditions.
DNOW Inc. (NYSE: DNOW) Q2-25 10-Q highlights: Revenue slipped 0.8% YoY to $628 M, but 1H-25 sales rose 2.6% to $1.227 B. Cost controls kept operating profit essentially flat at $32 M (5.1% margin) and net income attributable to DNOW grew 4% to $25 M; diluted EPS improved to $0.23 from $0.21. A lower 21.9% effective tax rate and share buybacks supported the EPS gain.
Balance sheet & liquidity: Cash was $232 M with zero revolver borrowings; $445 M of ABL availability yields ample liquidity. Working-capital investment drove operating cash flow down to $29 M vs. $102 M LY. Equity stood at $1.161 B and the current ratio at 2.4x. Capex was modest at $10 M; a $8 M Singapore electrical-supply acquisition added $3 M of goodwill.
Strategic actions: On 26 Jun 25 DNOW signed a $1.5 B all-stock merger agreement with MRC Global (0.9489 DNOW shares per MRC share), expected to close Q4-25. The company secured an incremental $250 M ABL commitment (total potential $750 M) to support the deal and has paused its new $160 M share-repurchase program until closing. Year-to-date buybacks total $27 M (1.7 M shares at $15.66).
Segment trends: U.S. revenue +3% YoY on 2024 acquisitions; Canada -14% and International -20% on weaker project activity and FX. Gross margin held steady as product cost declines offset softer volume. Outlook commentary flags commodity-price volatility and rig count weakness, but management expects the MRC transaction and energy-transition exposure to broaden growth drivers.