DNOW Inc., a global distributor of energy and industrial products, began the year with a solid first-quarter performance, delivering strong results despite slower market activity in parts of the energy sector. The company continued to grow its business by focusing on execution, maintaining financial discipline, and investing in strategic areas.
Revenue for the first quarter reached $599 million, up 5% from the previous quarter and unchanged from the same period last year, when sales were $601 million. Net income for the quarter was $22 million, compared to $21 million in the first quarter of 2024, an increase of about 5% year-over-year.
President and CEO David Cherechinsky said the results came in ahead of expectations and reflected the company’s ability to perform in uncertain conditions. “We expected softer market activity in North America, particularly in U.S. energy and completions,” Cherechinsky said. “But we stayed focused and executed well across the business. We also continued investing in areas that are growing and showing long-term promise.”
One of those growth areas was DNOW’s Process Solutions business, which packages and engineers equipment for industrial and energy customers. That segment grew 12% compared to the previous quarter, with rising demand and stronger pricing helping to boost results. The company’s international operations also performed well, continuing a pattern of consistent improvement outside the U.S.
“These parts of the business continue to shine,” Cherechinsky said. “Our Process Solutions team delivered another excellent quarter, and our international operations remained a steady contributor.”
While energy markets in the U.S. showed signs of slowing—fewer active drilling rigs and completions, for example—DNOW’s wide product offering and customer diversity helped soften the impact. The company also benefited from its focus on efficiency and thoughtful inventory planning, which allowed it to meet customer needs without overextending resources.
“We’re in a great position to be selective and patient,” Cherechinsky said. “We’re able to move when the right opportunities come along, whether that’s expanding into new markets or deepening our capabilities where we already operate.”
In April, DNOW completed the acquisition of Natron International Pte. Ltd., a Singapore-based supplier of electrical products. The deal expands DNOW’s reach in the Asia Pacific region and strengthens its MacLean International brand, which supports both traditional and renewable energy customers, as well as infrastructure and commercial industries.
“This acquisition is a smart extension of our strategy in the region,” said Cherechinsky. “It gives us more tools to support our customers in fast-growing markets and complements the work we’re already doing under the MacLean brand.”
Looking ahead, Cherechinsky said the company remains cautious but optimistic. While energy markets may remain unpredictable due to oil price fluctuations and potential trade disruptions, DNOW’s strong balance sheet, experienced team, and focus on digital and sustainable solutions give it a competitive edge.
“We’ve built a company that performs well through ups and downs,” he said. “Our investments in digital tools, sustainability, and low-carbon markets are gaining traction. And our people continue to do excellent work supporting customers and growing the business.”
DNOW Inc. supplies energy and industrial products and equipment to customers worldwide. Headquartered in Houston, Texas, and operating through a global network, DNOW provides supply chain services and digital tools under its DigitalNOW® platform. The company serves oil and gas, refining, utilities, mining, manufacturing, water, and renewables markets.
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