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|Data as of 11/19/20 11:15 pm EST|
Data Provided by Refinitiv. Minimum 15 minutes delayed.
Gross margins improved sequentially due to increased pricing and product mix with favorable impact from lower, but elevated, inventory write downs
Completed rollout of order management system in U.S. and Canada. Yielding more efficient quote-to-order process resulting in higher employee productivity
Executed MRO agreements for several offshore and onshore drilling contractors and a water infrastructure management operator
Ecommerce customer implementation growth and users continue adding to digital commerce channel
Structural change towards a more centralized fulfillment model with smaller branches and reduced personnel and vehicles, square footage and inventory
Completed move of La Porte distribution center to existing warehouse, contributing to cost reduction
Reduced discretionary and infrastructure costs and headcount from 4,400 to 2,550 since the beginning of the year
Focused on cost transformation to align to market demand and preserve balance sheet
Leveraging technology to enhance employee productivity and increase operational efficiencies
Proactively evaluating M&A opportunities
Working capital, excluding cash, was 22% of revenue in 3Q20
Inventory turns at 3.3x
Cash on hand at September 30, 2020 of $325M