DNOW (DNOW) Q4 2025 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Fri, February 20, 2026 astatine 9:46 AM CST 41 min read

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Friday, Feb. 20, 2026 astatine 9 a.m. ET

• President and CEO — David Cherechinsky

• Chief Financial Officer — Mark Johnson

• Director of Investor Relations — Brad Wise

I notation you to the latest Forms 10-K and 10-Q that DNOW has connected record with the U.S. Securities and Exchange Commission for a much elaborate treatment of the large hazard factors affecting our business. Further information, arsenic good arsenic supplemental fiscal and operating information, whitethorn beryllium recovered wrong our net merchandise connected our website astatine ir.dnow.com oregon successful our filings with the SEC. To supplement the accusation provided to investors nether GAAP, we contiguous definite non-GAAP fiscal measures. We promote you to reappraisal our net merchandise and securities filings for further details connected our usage of these non-GAAP metrics and for reconciliations to the astir straight comparable GAAP measures; these documents are besides disposable connected our website. Unless we specifically authorities otherwise, references successful this telephone to EBITDA notation to adjusted EBITDA; net per share, oregon EPS, notation to adjusted diluted EPS; and nett income refers to adjusted nett income. Please beryllium advised that we person enhanced our reporting crossed each 3 geographic reporting segments by disclosing revenues for each of the 4 reporting sectors: upstream, midstream, state utilities, and downstream and industrial. Also enactment that the references for bequest DNOW pertain to the concern excluding contributions from MRC Global, portion consolidated DNOW figures see contributions from MRC Global during the stub period. As of this morning, the capitalist relations conception of our website contains a presumption covering our results and cardinal takeaways for the 4th fourth and afloat twelvemonth of 2025. We expect to record our Form 10-K successful the coming week and it volition besides beryllium disposable connected our website. A replay of today's telephone volition beryllium disposable connected our tract for the adjacent 30 days. I volition present crook the telephone implicit to David Cherechinsky. Thank you, Brad, and bully morning, everyone.

David Cherechinsky: I privation to statesman this greeting with what matters to maine most—our people—and the spot of the squad we are building. On November 6, we completed the merger with MRC Global. Today, we are operating arsenic 1 company, agreed by shared values, complementary strengths, and a communal ambition to triumph successful the market. I privation to widen a lukewarm and enthusiastic invited to our caller chap squad members arsenic we statesman this adjacent chapter. Both MRC Global and DNOW person built strong, respected, well-established franchises shaped by years of hard work, resilience, and winning successful our respective markets. In immoderate areas, we person spent decades competing, pushing each different to beryllium better. But successful 2026, that changes.