DNOW Inc. on Thursday reported a loss in its second quarter — the third consecutive quarterly net loss for the company after its late-2025 takeover of MRC Global.
Company leaders, however, said that DNOW saw "significantly improved performance” during the latest three-month window, including stronger volumes and record cash flow.
DNOW posted $1.31 billion in revenue in the quarter, up from $628 million for the pre-merger company in the second quarter of 2025. DNOW President and CEO David Cherechinsky noted that revenue was 10% higher than the combined company’s first quarter of the year — its first full reporting period after closing the MRC deal.
DNOW also reported a net loss of $21 million in the quarter; the company reported net income of $14 million in its previous second quarter, but the latest loss was down from a $44 million net loss in the first quarter.
Gross profit in the second quarter came in at $243 million, while operating profit was reported at $1 million.
In addition to its cash flow and volume increases, Cherechinsky pointed to $60 million in adjusted EBITDA, which he said reflected both stronger volumes and its “execution of integration and cost management initiatives.” DNOW’s midstream revenues, he added, exceeded $1 billion on an annualized basis for the first time.
“Our actions are producing encouraging results, and we continue to take decisive steps to position DNOW for long-term success,” Cherechinsky said in the company’s earnings statement.
