2024-05-23 02:12:17 ET
Summary
- DNOW Inc's Canada segment saw a double-digit decline in Q1 2024 due to unfavorable weather events, but delayed projects are expected to drive sales in the future.
- The U.S. segment remains strong, and the addition of Whitco Supply should boost the company's overall revenue in 2024.
- DNOW's long-term margin outlook is promising, with expected volume growth and a focus on operational efficiencies and margin expansion.
- The company's stock is available at an attractive discount to its historical levels.
The Thesis
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DNOW: Good Long Term Driven By Energy Transition Projects