Filing Flows › Dnow (DNOW) › Q1 2025
Dnow (DNOW) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Dnow (DNOW) reported revenue of $599M for the first quarter 2025 (Q1 2025), +6% from a year earlier and +5% from the quarter before. Operating margin was 4.8%, net earnings $21.0M (3.5% of revenue).
Dnow, Q1 2025: revenue $599M (+6% year over year), operating margin 4.8%, net earnings $21.0M, operating cash flow −$16.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $599M | +5% | +6% |
| Gross profit | $138M | — | — |
| Operating profit | $29.0M | +16% | +4% |
| Net earnings | $21.0M | +5% | 0% |
| Operating cash flow | −$16.0M | — | — |
What changed
Revenue was $599.0M in Q1 2025, up 6% year over year and up 5% from the previous quarter.
Gross margin was 23.0%. Operating profit was $29.0M, a 4.8% margin (down 0.1 points year over year). Of the extra revenue versus a year earlier, 3% reached operating profit, below the 5% margin then. Net earnings were $21.0M, roughly flat year over year. The effective tax rate was 24.1%.
Operating cash flow was −$16.0M. Non-cash charges added back $11.0M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items used $53.0M. Capital expenditures of $6.0M exceeded it, leaving free cash flow of −$22.0M.
Questions
What was Dnow's revenue in the first quarter 2025?
Dnow (DNOW) reported revenue of $599M for the first quarter 2025 (Q1 2025), +6% from a year earlier and +5% from the quarter before.
Was Dnow profitable in the first quarter 2025?
Operating profit was $29.0M (4.8% of revenue) and net earnings $21.0M.
Source: Dnow 10-Q on SEC EDGAR.