DNOW Inc.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
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9. Business Segments
The Company hasthree reportable segments – United States, Canada and International. These segments were determined primarily based on geographic markets. The Chief Operating Decision Maker (“CODM”) uses operating profit to evaluate segment performance and allocate resources. Operating profit is revenue less cost of products, warehousing, selling and administrative expenses and impairment and other charges. The Company’s Chief Executive Officer has been identified as the CODM. The Company has disclosed for each reportable segment the significant expense categories that are reviewed by the CODM in the tables below and there are no additional significant expenses within the expense categories presented.
The following table presents results of operations of the Company’s reportable segments(in millions):
| United States · Canada · International · Total | |||||
|---|---|---|---|---|---|
| Revenue | $527 | $53 | $54 | $634 | |
| Less: | |||||
| Cost of products | 407 | 39 | 43 | 489 | |
| Warehousing, selling and administrative expenses | 92 | 12 | 8 | 112 | |
| Operating profit (loss) | $28 | $2 | $3 | 33 | |
| Other income (expense) | (1) | ||||
| Income before income taxes | $32 | ||||
| Revenue | $1,529 | $163 | $169 | $1,861 | |
| Less: | |||||
| Cost of products | 1,177 | 121 | 135 | 1,433 | |
| Warehousing, selling and administrative expenses | 272 | 36 | 25 | 333 | |
| Operating profit (loss) | $80 | $6 | $9 | 95 | |
| Other income (expense) | (1) | ||||
| Income before income taxes | $94 | ||||
| Revenue | $482 | $65 | $59 | $606 | |
| Less: | |||||
| Cost of products | 373 | 49 | 49 | 471 | |
| Warehousing, selling and administrative expenses | 84 | 13 | 10 | 107 | |
| Impairment and other charges | — | — | 5 | 5 | |
| Operating profit (loss) | $25 | $3 | $(5) | 23 | |
| Other income (expense) | (1) | ||||
| Income before income taxes | $22 | ||||
| Revenue | $1,429 | $187 | $186 | $1,802 | |
| Less: | |||||
| Cost of products | 1,107 | 141 | 152 | 1,400 | |
| Warehousing, selling and administrative expenses | 246 | 38 | 29 | 313 | |
| Impairment and other charges | — | — | 5 | 5 | |
| Operating profit (loss) | $76 | $8 | $— | 84 | |
| Other income (expense) | — | ||||
| Income before income taxes | $84 | ||||
The following table presents depreciation and amortization of the Company’s reportable segments(in millions):
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Depreciation and amortization | ||||
| United States | $10 | $7 | $30 | $21 |
| Canada | — | 1 | 1 | 2 |
| International | 1 | — | 1 | 1 |
| Total | $11 | $8 | $32 | $24 |
The following table presents property, plant and equipment, net and total assets of the Company’s reportable segments(in millions):
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Property, plant and equipment, net | ||
| United States | $129 | $135 |
| Canada | 10 | 11 |
| International | 10 | 11 |
| Total | $149 | $157 |
| Total assets | ||
| United States | $1,345 | $1,299 |
| Canada | 174 | 177 |
| International | 141 | 145 |
| Total | $1,660 | $1,621 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.