NOW Inc. (NYSE:DNOW) Q3 2023 Earnings Call Transcript November 2, 2023 9:00 AM ET

Company Participants

Brad Wise - VP of Digital Strategy and IR

David Cherechinsky - President and CEO

Mark Johnson - SVP and CFO

Conference Call Participants

Nathan Jones - Stifel

Cole Couzens - Stephens

Jeff Robertson - Water Tower Research

Operator

Hello, good morning. My name is Jeremy, and I will be your conference operator today. At this time, I would like to welcome everyone to the DNOW Third Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. Mr. Brad Wise, Vice President of Digital Strategy and Investor Relations, you may begin your conference.

Brad Wise

Thank you, Jeremy. Good morning and welcome to DNOW's third quarter 2023 earnings conference call. We appreciate you joining us and thank you for your interest in DNOW. With me today is David Cherechinsky, President and Chief Executive Officer, and Mark Johnson, Senior Vice President and Chief Financial Officer.

We operate under the DNOW brand, which is also our New York Stock Exchange ticker symbol. Please note that some of the statements we make during this call, including responses to your questions, may contain forecasts, projections and estimates, including but not limited to, comments about our outlook for the company's business. These are forward-looking statements within the meaning of the US federal securities laws based on limited information as of today, November 2nd, 2023, which is subject to change. They are subject to risks and uncertainties, and actual results may differ materially. No one should assume these forward-looking statements remain valid later in the quarter or later in the year. We do not undertake any obligation to publicly update or revise any forward-looking statements for any reason.

In addition, this conference call contains time-sensitive information that reflects management's best judgment at the time of the live call. I refer you to the latest Forms 10-K and 10-Q that DNOW has on file with the US Securities and Exchange Commission for more detailed discussion of the major risk factors affecting our business. Further information, as well as supplemental financial and operating information, may be found within our earnings release or our website at ir.dnow.com or in our filings with the SEC.

In an effort to provide investors with additional information relative to our results as determined by US GAAP, you'll note that we also disclose various non-GAAP financial measures, including EBITDA excluding other costs, sometimes referred to as EBITDA, net income attributable to NOW Inc., excluding other costs, and diluted earnings per share attributable to NOW Inc., excluding other costs. Each excludes the impact of certain other costs and therefore have not been calculated in accordance with GAAP. Please refer to a reconciliation of each of these non-GAAP financial measures to its most comparable GAAP financial measure and the supplemental information available at the end of their earnings release.