DistributionNOW Inc. (DNOW) Tops Q1 EPS by 4c, Revenues Beat

DistributionNOW Inc. (NYSE: DNOW) reported Q1 EPS of $0.12, $0.04 better than the analyst estimate of $0.08. Revenue for the quarter came in at $785 million versus the consensus estimate of $773.73 million.

First Quarter 2019 Financial Highlights

• Revenue was $785 million for the first quarter of 2019, up three percent year over year.
• Net income was $18 million for the first quarter of 2019, versus $2 million a year ago. Non-GAAP net income excluding other costs was $13 million for the first quarter of 2019 compared to $1 million a year ago.
• Diluted earnings per share was $0.16 for the first quarter of 2019 compared to $0.02 a year ago. Non-GAAP diluted earnings per share excluding other costs was $0.12 for the first quarter of 2019 compared to $0.01 a year ago.
• Non-GAAP EBITDA excluding other costs for the first quarter of 2019 was $31 million compared to $16 million a year ago.

"While land rig activity in North America has declined recently, the shift of budgets to completions, in addition to order bookings for midstream projects and pipeline pumps to be delivered later in the year, may offset some of the headwinds expected in North America.”

For earnings history and earnings-related data on DistributionNOW Inc. (DNOW) click here.

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