Filing Flows › Dnow (DNOW) › Q2 2026
Dnow (DNOW) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 6, 2026
Dnow (DNOW) reported revenue of $1.3B for the second quarter 2026 (Q2 2026), +108% from a year earlier and +10% from the quarter before. Operating margin was 0.1%, net loss $21.0M (1.6% of revenue).
Dnow, Q2 2026: revenue $1.3B (+108% year over year), operating margin 0.1%, net loss $21.0M, operating cash flow $133M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +10% | +108% |
| Operating profit | $1.0M | — | -97% |
| Net earnings | −$21.0M | — | -184% |
| Operating cash flow | $133M | — | +196% |
| Free cash flow | $124M | — | +202% |
What changed
Revenue was $1.3B in Q2 2026, up 108% year over year and up 10% from the previous quarter. Upstream was the largest line at 39% of revenue. Gas Utilities added $0.30B year over year (up 2483%), 44% of the total change.
Gross margin was 18.6%, down 1.9 points from Q2 2025. Operating profit was $1.0M, a 0.1% margin (down 2.6 points year over year). Operating profit fell $0.02B even though revenue rose $0.68B versus Q2 2025, so costs grew faster than sales. Operating expenses grew 116% against revenue growth of 108%. The quarter ended with a net loss of $0.02B, narrower than the previous quarter's $0.04B loss.
Operating cash flow was $0.13B (up 196% year over year). Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.13B. After purchases of property, plant and equipment ($0.01B), free cash flow as the company reports it was $0.12B.
Questions
What was Dnow's revenue in the second quarter 2026?
Dnow (DNOW) reported revenue of $1.3B for the second quarter 2026 (Q2 2026), +108% from a year earlier and +10% from the quarter before.
Was Dnow profitable in the second quarter 2026?
Operating profit was $1.0M (0.1% of revenue) and net loss $21.0M.
Source: Dnow 10-Q on SEC EDGAR.