DNOW Inc. Q1 Profit Decreases, Misses Estimates

(RTTNews) - DNOW Inc. (DNOW) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $23 million, or $0.19 per share. This compares with $31 million, or $0.28 per share, in last year's first quarter.

Excluding items, DNOW Inc. reported adjusted earnings of $23 million or $0.21 per share for the period.

Analysts on average had expected the company to earn $0.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.6% to $563 million from $584 million last year.

DNOW Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $23 Mln. vs. $31 Mln. last year. -EPS (Q1): $0.19 vs. $0.28 last year. -Revenue (Q1): $563 Mln vs. $584 Mln last year.