DNOW Inc. (NYSE: DNOW), a leading supplier of energy and industrial products, saw its stock soar 27.30% in pre-market trading on Thursday, following the release of its impressive fourth quarter and full-year 2024 financial results.
The company reported revenue of $571 million for Q4 2024, up 2.88% year-over-year, beating analyst estimates of $553.9 million. Adjusted earnings per share came in at $0.25, significantly higher than the consensus estimate of $0.14 and a 13.6% increase from the prior year.
DNOW's strong performance was driven by several key factors:
For the full-year 2024, DNOW reported revenue of $2.373 billion and adjusted earnings per share of $0.91, reflecting the company's resilience and growth in a challenging economic environment.
In a positive sign of confidence in the company's future prospects, DNOW announced a new $160 million share repurchase program, double the size of the previous program successfully completed in 2024. This substantial increase underscores the company's strong cash generation capabilities and its commitment to enhancing shareholder value.
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