Houston-based NOW Inc. (NYSE: DNOW) reported sales for the third quarter ended Sept. 30, 2023, were $588 million, up 1.9%. Profit was $35 million.
Sales for the first nine months were $1.76 billion, up 11% from the prior year. Profit was $101 million.
David Cherechinsky, president and CEO of DNOW, said: “Our gross margins remain strong as we optimize product mix and proactively manage our pipe product lines. We are realizing the benefits of our energy evolution and market-adjacent strategies, as U.S. Process Solutions expanded, aided by demand for fluid handling equipment, and increased EcoVapor product sales used in renewable natural gas decarbonization projects.
DNOW is a supplier of energy and industrial products and packaged, engineered process and production equipment.