DNOW (DNOW) Announces $160M Share Buyback

DNOW Inc. (NYSE: DNOW) announced today that its Board of Directors authorized the Company’s new share repurchase program (“repurchase program”) pursuant to which the Company may purchase up to $160 million of DNOW Inc.’s common stock, effective immediately. The Company has successfully completed its previously announced $80 million repurchase program.

David Cherechinsky, President and CEO of DNOW Inc., commented, “We are excited to announce our new share repurchase program, which is double in size from our previous program. The continued execution of our strategy and accompanying growth initiatives supports our confidence in DNOW’s continued cash flow generation capabilities and improved earnings profile. This substantial increase in the share repurchase program further demonstrates the strength in our business, complements our acquisition focus and illustrates our continued commitment to a disciplined capital allocation strategy, delivering attractive full cycle returns and maximizing value to our shareholders.”

Under this program, the Company may from time to time enter into Rule 10b5-1 trading plans to facilitate the repurchase of its common stock pursuant to its repurchase program. The Company cannot predict when or if it will repurchase any shares of common stock as such repurchase program will depend on several factors, including share price, general business and market conditions and alternative investment opportunities. The share repurchase program does not obligate the Company to repurchase shares and may be suspended or discontinued at any time at the Company’s discretion. Information regarding share repurchases will be available in the Company’s periodic reports on Form 10-Q and 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.

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