The following is a summary of the Dnow, Inc. (DNOW) Q4 2023 Earnings Call Transcript:

Financial Performance:

• DNOW reported an increase in revenues to $2.32 billion for the full year 2023, which is a 9% increase year-over-year.

• DNOW's Q4 2023 revenues stand at $555 million, which represents a 1% increase year-over-year.

• The company's gross margin percentage for 2023 was 23.1%, making it the second best in its history.

• Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for 2023 was at 7.9% of revenues.

• DNOW surpassed its cash flow projections by generating $171 million in free cash flow in 2023.

• The company ended Q4 with no debt and a cash position of $299 million, and a total liquidity of $626 million.

Business Progress:

• The U.S. Process Solutions of the company achieved significant double-digit revenue growth across all units for the full year.

• EcoVapor Zero 2 solutions, directed towards the renewable fuels market, demonstrated sales growth.

• Plans to acquire Whitco Supply are underway which could boost earnings and free cash flow.

• DNOW is increasing its focus on carbon capture and storage markets due to significant capital investments from their current customers.

• Developments are being made to existing businesses and new revenue streams to increase earnings and free cash flow.

• For the first quarter of 2024, DNOW has predicted a sequential revenue increase in the 0% to 5% range when compared to Q4 2023.

More details: DNOW Inc IR

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