Revenue Update on NOW Inc(NYSE:DNOW)

NOW Inc(NYSE:DNOW) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Company reported revenue of $501.00M. Analysts estimated a revenue of $456.96M. Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.46.

NOW Inc (DNOW) shares turned negative on Fridays trading session with the shares closing down -0.56 points or -2.66% at a volume of 7,37,190. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $21.03. The peak price level was also seen at $21.03 while the days lowest was $20.4. Finally the shares closed at $20.47. The 52-week high of the shares is $21.328 while the 52-week low is $12.03. According to the latest information available, the market cap of the company is $2,200 M.

NOW Inc. (NOW) is a global distributor to energy and industrial markets. The Company operates through three segments: United States (U.S.) Canada and International. The Company operates primarily under the DistributionNOW and Wilson Export brands. Its energy product offering is needed throughout all sectors of the oil and gas industry from upstream drilling and completion exploration and production (E&P) midstream infrastructure development to downstream petroleum refining as well as in other industries. It also provides supply chain management to drilling contractors E&P operators midstream operators downstream energy and industrial manufacturing companies around the world. The Company’s global product offering includes consumable maintenance repair and operating (MRO) supplies pipe valves fittings flanges electrical artificial lift solutions mill tools safety supplies and spare parts to support customers’ operations.

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