Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Earnings To Watch: NOW (DNOW) Reports Q3 Results Tomorrow

DNOW Cover Image

Energy and industrial distributor NOW Inc. (NYSE:DNOW) will be reporting results tomorrow before market open. Here’s what you need to know.

NOW met analysts’ revenue expectations last quarter, reporting revenues of $633 million, up 6.6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is NOW a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting NOW’s revenue to grow 4.6% year on year to $614.9 million, improving from the 1.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.21 per share.

NOW Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. NOW has missed Wall Street’s revenue estimates three times over the last two years.

Looking at NOW’s peers in the industrial distributors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. MRC Global’s revenues decreased 10.2% year on year, meeting analysts’ expectations, and Watsco reported revenues up 1.6%, falling short of estimates by 3.6%. Watsco traded down 1.4% following the results.

Read our full analysis of MRC Global’s results here and Watsco’s results here.

There has been positive sentiment among investors in the industrial distributors segment, with share prices up 2.7% on average over the last month. NOW is down 2.3% during the same time and is heading into earnings with an average analyst price target of $15 (compared to the current share price of $12.15).

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.