DNOW Inc. has reported significantly improved financial results for the second quarter of 2025. The company has demonstrated powerful cash generation abilities, which have contributed to improved earnings durability and a better free cash flow profile. DNOW maintains a strong balance sheet, boasting $232 million in cash and no debt, positioning it well to fund growth initiatives and an enhanced capital allocation program. The company has also authorized a new $160 million share repurchase program as part of its capital allocation strategy, with $19 million worth of shares repurchased during the second quarter of 2025, totaling $27 million year-to-date. In terms of business operations, DNOW has expanded its set of solutions for energy transition and industrial markets, contributing to additional revenue diversification. The company has also announced a merger agreement with MRC Global, which is expected to create a premier energy and industrial solutions provider by joining complementary footprints across key energy and industrial hubs in the U.S., enhancing global reach, and creating value through cost synergies. Additionally, DNOW closed the acquisition of Natron International in April 2025, further strengthening its market position.