Investor Relations

DistributionNOW will be recognized as the market leader in Supply Chain Management through superior customer service by leveraging the strengths of our employees, processes, suppliers, and information.

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Our Strategy to Unlock Value

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Deliver Margin Discipline IconDeliver Margin

Activity increase in North America, resulting from revenue growth in Canada, with the U.S. being relatively flat as order pipeline improved offset by seasonality and declines Internationally

Gross margins down sequentially due to elevated inventory charges attributed to structural and customer preference changes resulting in non-cash inventory charges of $24M during the quarter

Expanding maintenance capex revenue from select E&P customers with few to no drilling rigs

Retain market share on several contract renewals and expand with a notable midstream contract win



Optimize Operations IconOptimize Operations

Structural change towards a more centralized fulfillment model with smaller branches and reduced personnel and vehicles, square footage and inventory

Reduced discretionary and infrastructure costs and headcount from approximately 4,400 to 2,500 during the year

Kitting and shipments of large project orders from Houston based super center

Focused on cost transformation to better adapt to market demand and preserve balance sheet

Leveraging technology to enhance employee productivity and increase operational efficiencies



Drive Growth Through Acquisitions IconDrive Growth Through Acquisitions

Completed small acquisition in February 2021

  • Expands DNOW’s engineering, design and construction services capability based in West Texas with midstream customers
  • Reporting under U.S. Process Solutions
  • M&A pipeline active, proactively evaluating opportunities
  • Approximately $584 million in total liquidity


Approach to Capital Allocation IconMaximize Working Capital Velocity

Working capital, excluding cash, was 16% of fourth quarter 2020 annualized  revenue

Inventory turns at 4.2x

Cash balance at December 31, 2020 of $387M

Zero debt





2021 SEC Q&K Filings

Annual report to the Securities and Exchange Commission (SEC) which provides a comprehensive overview of the company for the past year.