Filing Flows › Dnow (DNOW) › Q3 2026
Dnow (DNOW) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Dnow (DNOW) reported revenue of $1.3B for the third quarter 2026 (Q3 2026), +111% from a year earlier and +2% from the quarter before. Operating margin was 2.5%, net earnings $26.0M (1.9% of revenue).
Dnow, Q3 2026: revenue $1.3B (+111% year over year), operating margin 2.5%, net earnings $26.0M, operating cash flow $120M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +2% | +111% |
| Gross profit | $265M | +9% | +85% |
| Operating profit | $33.0M | 33× | +6% |
| Net earnings | $26.0M | — | +13% |
| Operating cash flow | $120M | -10% | +179% |
| Free cash flow | $106M | — | +172% |
What changed
Revenue was $1.3B in Q3 2026, up 111% year over year and up 2% from the previous quarter. Upstream was the largest line at 36% of revenue. Gas Utilities added $0.31B year over year (up 2818%), 44% of the total change.
Gross margin was 19.8%, down 2.7 points from Q3 2025. Operating profit was $0.03B, a 2.5% margin (down 2.4 points year over year). Of the extra revenue versus Q3 2025, 0% reached operating profit, below the 5% margin then. Operating expenses grew 107% against revenue growth of 111%. Net earnings were $0.03B, up 13% year over year. The effective tax rate was -13.0%.
Operating cash flow was $0.12B (up 179% year over year), 462% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.06B. After purchases of property, plant and equipment ($0.01B), free cash flow as the company reports it was $0.11B.
Questions
What was Dnow's revenue in the third quarter 2026?
Dnow (DNOW) reported revenue of $1.3B for the third quarter 2026 (Q3 2026), +111% from a year earlier and +2% from the quarter before.
Was Dnow profitable in the third quarter 2026?
Operating profit was $33.0M (2.5% of revenue) and net earnings $26.0M.
Source: Dnow 10-Q on SEC EDGAR.