Slide 1: Key Takeaways First Quarter 2024
© 2024 DNOW. All Rights Reserved Key First Quarter 2024 Takeaways ™
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
Key Takeaways F i r s t Q u a r t e r Presentation Key Takeaways 1Q24 Net cash provided by operating activities was $81M for the first quarter of 2024 Revenue of $563M for the first quarter, up $8M sequentially, on lower U.S. well completions and steep decline in U.S. natural gas prices GAAP Net Inc
Slide 4: Key Market Indicators
Key Takeaways F i r s t Q u a r t e r Presentation Key Market Indicators WTI/Rig Counts U.S. Completions* U.S. DUCs* WTI avg of $78 per barrel for March ended with a DUC 1Q24, flat sequentially March ended with a U.S. completions count of 859 wells in EIA regions count of 4,522 wells in EIA • U.S. a
Slide 5: 1Q24 Segment Results (Year-over-Year)
Key Takeaways F i r s t Q u a r t e r Presentation 1Q24 Segment Results (Year-over-Year) United States Revenue increase from an acquisition completed in 1Q24; partially offset by the weakening of drilling and completions activity Operating profit remained flat Canada Revenue lower primarily due to a
Slide 6: Selected Quarterly Results
Key Takeaways F i r s t Q u a r t e r Presentation Selected Quarterly Results Net Income attributable to DNOW Inc. excl. Revenue & Gross Margin Percent Other Costs (Non-GAAP) ($ in millions) ($ in millions) 24.1% 24.1% 23.7% 23.5% 23.4% 22.8% 22.9% 22.6% 22.6% $577 $584 $594 $588 $539 $547 $555 $563
Slide 7: Selected Quarterly Results
Key Takeaways F i r s t Q u a r t e r Presentation Selected Quarterly Results EBITDA excl. Other Costs (Non- GAAP) Free Cash Flow* ($ in millions) ($ in millions) 9.2% 8.7% 8.6% 8.0% $103 7.9% 7.8% 7.9% 6.9% $79 $80 5.9% $44 $53 $47 $47 $47 $47 $46 $44 $4 $39 $0 $28 $(11) $(22) $(35) © 2024 DNOW. Al
Slide 8: Selected Quarterly Results
Key Takeaways F i r s t Q u a r t e r Presentation Selected Quarterly Results Working Capital excl. Cash and as % of Revenue Total Liquidity at March 31, 2024 ($ in millions) ($ in millions) 17.7% 17.6% 17.5% 16.7% 15.6% 15.8% 15.3% 14.3% 13.6% $188 $416 $564 million $410 $366 $371 $395 Total Liquid
Slide 9: Share Repurchases
Key Takeaways F i r s t Q u a r t e r Presentation Share Repurchases $70 $80 million share repurchase program Cumulative $56 $57 $58 $60 Share $51 Repurchases $50 $43 $40 ($ in millions) $30 Repurchased $1M of $20 shares during the $4 $7 $10 quarter, with $58M accumulated through $0 3Q22 4Q22 1Q23 2
Slide 10: CEO Wrap-Up
Key Takeaways F i r s t Q u a r t e r Presentation CEO Wrap-Up 1Q24 Revenue of $563M, a growth of 1% sequentially Closed acquisition of Whitco Supply, expands and diversifies customer midstream customer base Generated $80M of free cash flow for 1Q24 and $262M for the trailing four quarters ending Ma
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