Before today's opening bell, the Houston-based distributor to energy and industrial markets posted a net loss of 40 cents per share, narrower than the loss of 46 cents per share that analysts had projected.
Revenue for the quarter was $501 million, above analysts' estimates of $457 million.
"Oil prices surged in the second quarter compared to the first, generating an uptick in rig activity during the back half of the quarter. However, the market remains uncertain as oil prices have since retreated back into the $40 range," CEO Robert Workman said in a statement.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, poor profit margins and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: DNOW