Filing Flows › Dnow (DNOW) › Q3 2026 › vs Q2 2026
Dnow (DNOW) Q3 2026 vs Q2 2026 (quarter over quarter)
Dnow's revenue rose $30.0M (+2%) from $1.3B in Q2 2026 to $1.3B in Q3 2026. The biggest changes: Upstream −$22.0M (-4%); Downstream and Industrial +$21.0M (+10%); Midstream +$20.0M (+7%). Gross margin 19.8% against 18.6% (+1.2 pts).
Dnow, Q3 2026: revenue $1.3B (+111% year over year), operating margin 2.5%, net earnings $26.0M, operating cash flow $120M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 19.8% | 18.6% | +1.2 pts |
| Operating margin | 2.5% | 0.1% | +2.4 pts |
| Net margin | 1.9% | -1.6% | +3.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Upstream | $486M | $508M | −$22.0M | -4% |
| Gas Utilities | $321M | $310M | $11.0M | +4% |
| Midstream | $292M | $272M | $20.0M | +7% |
| Downstream and Industrial | $238M | $217M | $21.0M | +10% |
| Revenue | $1.3B | $1.3B | $30.0M | +2% |
| Gross profit | $265M | $243M | $22.0M | +9% |
| Cost of revenue | $1.1B | $1.1B | $8.0M | +0.8% |
| Operating profit | $33.0M | $1.0M | $32.0M | 33× |
| Operating expenses | $232M | $242M | −$10.0M | -4% |
| Pre-tax earnings | $23.0M | −$9.0M | $32.0M | — |
| Other expense, net | $10.0M | $10.0M | $0 | 0% |
| Income tax benefit | $3.0M | −$12.0M | $15.0M | — |
| Net earnings | $26.0M | −$21.0M | $47.0M | — |
| Depreciation & amortization | $24.0M | $23.0M | $1.0M | +4% |
| Share-based compensation | $6.0M | $5.0M | $1.0M | +20% |
| Working capital & other | $64.0M | $126M | −$62.0M | -49% |
| Operating cash flow | $120M | $133M | −$13.0M | -10% |
Questions
How much did Dnow's revenue grow quarter over quarter in Q3 2026?
Dnow's revenue rose $30.0M (+2%) from $1.3B in Q2 2026 to $1.3B in Q3 2026.
What drove Dnow's revenue change in Q3 2026?
Upstream −$22.0M (-4%); Downstream and Industrial +$21.0M (+10%); Midstream +$20.0M (+7%).