By Sabela Ojea
Shares of Dnow on Thursday jumped to a new 52-week high after the company's fourth-quarter adjusted earnings and revenue came ahead of Wall Street expectations.
The stock was up 20% to $16.98 in midday trading. Shares are up 30% year to date, and have surged 45% over the past 12 months.
The stocking supplier of energy and industrial solutions, products and engineered equipment packages posted a net profit of $23 million, or 21 cents a share, compared with $147 million, or $1.35 a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at 25 cents. Analysts polled by FactSet had forecast adjusted earnings of 13 cents a share.
Revenue rose 2.9% to $571 million, beating Wall Street expectations of $553.9 million, according to FactSet.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 13, 2025 13:11 ET (18:11 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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