Slide 1: Key Takeaways Second Quarter 2024
© 2024 DNOW. All Rights Reserved Key Takeaways Second Quarter 2024
Slide 2: Disclosure Statement
Disclosure Statement Statements made in the course of this presentation that state the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future are forward-looking statements. It is important to note that the Company's actual results could differ materially fro
Slide 3: Key Takeaways 2Q24
Key Takeaways S e c o n d Q u a r t e r Presentation Key Takeaways 2Q24 Revenue of $633M for the second quarter, up $70M sequentially, primarily due to a full quarter contribution from the Whitco acquisition, against lower U.S. well completions and low U.S. natural gas prices GAAP Net Income attribu
Slide 4: Key Market Indicators
Key Takeaways S e c o n d Q u a r t e r Presentation Key Market Indicators WTI/Rig Counts U.S. Completions* U.S. DUCs* WTI avg of $82 per barrel for 2Q24 June ended with a DUC June ended with a U.S. completions • count of 909 wells in EIA regions count of 5,452 wells in EIA U.S. avg rig count of 603
Slide 5: 2Q24 Segment Results (Year-over-Year)
Key Takeaways S e c o n d Q u a r t e r Presentation 2Q24 Segment Results (Year-over-Year) United States Revenue increased from an acquisition completed in 1Q24; partially offset by the weakening of drilling and completions activity Operating profit remained relatively flat primarily due to an incre
Slide 6: Selected Quarterly Results
Key Takeaways S e c o n d Q u a r t e r Presentation Selected Quarterly Results Net Income attributable to DNOW Inc. excl. Revenue & Gross Margin Percent Other Costs (Non-GAAP) ($ in millions) ($ in millions) 24.1% 24.1% 23.7% 23.5% 23.4% 22.8% 22.9%* 22.6% * 21.8% $633 $34 $29 $29 $28 $28 $28 $594
Slide 7: Selected Quarterly Results
Key Takeaways S e c o n d Q u a r t e r Presentation Selected Quarterly Results EBITDA excl. Other Costs (Non- GAAP) Free Cash Flow* ($ in millions) ($ in millions) 9.2% 8.7% 8.6% 7.9% $103 8.0% 7.9% 7.9% 7.8% 6.9% $79 $80 $44 $53 $18 $50 $47 $47 $47 $47 $46 $44 $4 $39 $0 $(11) $(35) © 2024 DNOW. Al
Slide 8: Selected Quarterly Results
Key Takeaways S e c o n d Q u a r t e r Presentation Selected Quarterly Results Working Capital excl. Cash and as % of Revenue Total Liquidity at June 30, 2024 ($ in millions) ($ in millions) 17.7% 17.5% 17.6% 16.7% 15.8% 16.4% 15.6% 15.3% 14.3% $197 $416 $414 $579 million $410 $366 $371 $395 Total
Slide 9: Share Repurchases
Key Takeaways S e c o n d Q u a r t e r Presentation Share Repurchases $80 million share repurchase program Repurchase Program ($ in millions) Repurchased approximately $10M of shares during the quarter, with $67M accumulated $13 through 2Q24(1) Program authorized through December 2024 $80 million R
Slide 10: Wrap-Up Outlook
Key Takeaways S e c o n d Q u a r t e r Presentation Wrap-Up Outlook Full-year 2024 revenue expected to increase in the low-to-mid single digit percentage range compared to full-year 2023 revenue Full-year 2024 EBITDA as a percent of revenue could approximate 7.0% to 7.5% 3Q24 sequential revenue exp
Slide 11: Investor Relations
Investor Relations Brad Wise Vice President, Digital Strategy & Investor Relations Contact email: ir@dnow.com For the most recent investor presentation, please click here