Filing Flows › Dnow (DNOW) › Q2 2025
Dnow (DNOW) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Dnow (DNOW) reported revenue of $628M for the second quarter 2025 (Q2 2025), -0.8% from a year earlier and +5% from the quarter before. Operating margin was 5.1%, net earnings $25.0M (4.0% of revenue).
Dnow, Q2 2025: revenue $628M (-0.8% year over year), operating margin 5.1%, net earnings $25.0M, operating cash flow $45.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $628M | +5% | -0.8% |
| Gross profit | $129M | -7% | — |
| Operating profit | $32.0M | +10% | -3% |
| Net earnings | $25.0M | +14% | 0% |
| Operating cash flow | $45.0M | — | +114% |
| Free cash flow | $41.0M | — | +128% |
What changed
Revenue was $628.0M in Q2 2025, down 1% year over year and up 5% from the previous quarter.
Gross margin was 20.5%. Operating profit was $32.0M, a 5.1% margin (down 0.1 points year over year). Net earnings were $25.0M, up 4% year over year. The effective tax rate was 21.9%.
Operating cash flow was $45.0M (up 114% year over year), 180% of net earnings. Non-cash charges added back $10.0M of depreciation and amortization and $4.0M of share-based compensation. Working capital and other items added $6.0M. After purchases of property, plant and equipment ($4.0M), free cash flow as the company reports it was $41.0M.
Questions
What was Dnow's revenue in the second quarter 2025?
Dnow (DNOW) reported revenue of $628M for the second quarter 2025 (Q2 2025), -0.8% from a year earlier and +5% from the quarter before.
Was Dnow profitable in the second quarter 2025?
Operating profit was $32.0M (5.1% of revenue) and net earnings $25.0M.
Source: Dnow 10-Q on SEC EDGAR.