NOW(US:DNOW)2025-02-13 11:56Revenue Performance - DNOW reported fourth quarter revenue of $571 million, a 2.9% increase from $555 million in the same quarter of 2023[7]. - Full-year revenue for 2024 was $2,373 million, up 2.2% from $2,321 million in 2023[7]. Cash Flow and Liquidity - Free cash flow for 2024 was $289 million, nearly double the projections from the previous year[4]. - Cash provided by operating activities was $122 million for the fourth quarter and $298 million for the full year[7]. - As of December 31, 2024, DNOW had cash and cash equivalents of $256 million and zero long-term debt, with total liquidity of approximately $556 million[7]. - Net cash provided by operating activities for Q4 2024 was $122 million, up from $81 million in Q4 2023, resulting in a free cash flow of $119 million[24]. - For the year ended December 31, 2024, total free cash flow reached $289 million, compared to $171 million in 2023, indicating a significant increase[24]. - Free cash flow for Q3 2024 was $72 million, an increase from $18 million in Q2 2024[24]. - The company’s net cash used in operating activities for Q3 2024 was $74 million, compared to $105 million in Q3 2023[24]. Profitability Metrics - Fourth quarter EBITDA was $45 million, representing 7.9% of revenue, exceeding expectations due to improved gross margins and cost control[4]. - Net income for the fourth quarter was $23 million, or $0.21 per diluted share, compared to $147 million, or $1.35 per diluted share in the same quarter of 2023[7]. Acquisitions and Investments - The company completed the acquisition of Trojan Rentals, LLC for $114 million in cash, enhancing its pump rental and industrial automation capabilities[7]. - DNOW announced a new $160 million share repurchase authorization, double the size of the previous program, reflecting confidence in its cash generation capabilities[5]. Expenses and Tax Benefits - Other expenses for Q4 2024 included transaction-related charges of approximately $2 million and international restructuring charges of about $1 million[25]. - For the year ended December 31, 2024, Other expenses totaled $9 million, with $6 million attributed to foreign currency translation losses[28]. - The company incurred approximately $12 million in transaction-related charges for the year ended December 31, 2024, with $5 million included in cost of products[28]. - The company reported a tax benefit of $126 million for Q4 2023 from the release of valuation allowances against deferred tax assets[30]. - For the year ended December 31, 2023, the tax benefit from the release of valuation allowances was $149 million[33]. - Other expenses for Q3 2024 included international restructuring charges of $8 million, with $5 million related to foreign currency translation losses[27]. Future Outlook - The company aims for continued growth in 2025, potentially marking the fifth consecutive year of growth[6].