NOW(US:DNOW)2025-05-07 12:11Financial Performance - First quarter revenue reached $599 million, a 5% sequential increase and a 6% year-over-year increase[9] - GAAP Net Income attributable to DNOW Inc was $22 million for the first quarter, with GAAP diluted EPS at $0.20[9] - Non-GAAP Net Income was $24 million for the first quarter, with Non-GAAP diluted EPS at $0.22[9] - EBITDA reached $46 million, representing 7.7% of revenue for the first quarter[9] - Gross margins for 1Q25 were 23.2%[9] Capital Allocation - The company repurchased $8 million in shares during the first quarter and $16 million year-to-date, as part of a newly authorized $160 million share repurchase program[9] - Total liquidity stood at $567 million as of March 31, 2025[29, 32] Market Indicators - DNOW annualized revenue per rig was $1.4 million for 1Q25[11] - U.S completions totaled 2,801 in 1Q25, a 2% sequential decrease[12] Segment Results (Year-over-Year) - United States revenue increased due to acquisitions, offsetting weaker drilling and completion activity[13, 17] - Canada revenue decreased by 6% year-over-year[17] - International revenue increased by 2% year-over-year[17] Outlook - The company expects 2Q25 revenue to increase flat-to-up in the mid-single-digits percentage range sequentially and EBITDA approaching 8% of revenue[49] - Full-year 2025 revenue is expected to be flat-to-up in the high-single-digit percent range from 2024, with EBITDA approaching 8% of revenue and free cash flow targeted at $150 million[49]