Posted May 3, 2017

NOW Inc. sales up 15 percent

NOW Inc. reported revenues of $631 million for the first quarter of 2017, up 17 percent sequentially and 15 percent year over year.

Net loss was $23 million for the first quarter of 2017, versus losses of $71 million in the fourth quarter of 2016 and $63 million a year ago. 

"We are excited that rig count improvements from late last year materialized into tank battery facility construction in the quarter, driving our largest sequential revenue gains since before the downturn. We anticipate continuing momentum from North America rig count additions, offset slightly by normal seasonal Canadian break-up in the second quarter,” said Robert Workman, president and CEO of NOW Inc.