New York, Feb 24, 2026, 09:53 (EST) — Regular session
- DNOW shares bounce, yet they’re still hanging just above a new 52-week low early in U.S. trading.
- ERP rollout snags in MRC Global’s U.S. operations prompted a Stifel analyst to cut his target price.
- Investors want sharper 2026 guidance—and some hint that the integration is finally finding its footing.
DNOW Inc (NYSE:DNOW) slipped to a fresh 52-week low Tuesday, then clawed back some ground as traders stayed cautious following a steep post-earnings drop. By around 9:50 a.m. EST, the stock had rebounded 1.6% to $12.04 after dipping to $11.69 earlier. Shares plunged 10.4% on Monday and tumbled 19.1% back on Feb. 20. 1
Churn’s a big deal at this stage, with DNOW still working through the integration of a significantly larger operation. Investors seem focused less on market demand and more on whether the company can actually pull off the execution.
Stifel’s Adam Farley cut his DNOW price target to $16 from $18, sticking with a “buy” call even as the firm cited ongoing fallout from an enterprise resource planning (ERP) rollout at MRC Global’s U.S. unit. According to Stifel, the ERP mess contributed to a Q4 earnings shortfall and forced DNOW management to push back on its 2026 guidance. The impacted U.S. segment accounts for about 40% of DNOW’s total sales, but Stifel described the problems as likely “transitory in nature.” 2
Enterprise resource planning, or ERP, is the backbone system linking up billing, inventory, and ordering behind the scenes. If the software slips up, shipments lag, invoices get delayed, and business can slip through unnoticed gaps.
DNOW wrapped up its all-stock buyout of MRC Global back on Nov. 6, according to a Feb. 20 SEC filing. The company is aiming for $23 million in cost synergies in the first year, still eyeing $70 million over three years. CEO David Cherechinsky pointed to “targeted actions” dealing with “persistent challenges” from the U.S. MRC Global ERP transition. For 2025, DNOW logged $2.82 billion in revenue, ending the year holding $164 million in cash and $411 million in long-term debt. 3
DNOW unveiled its plan to acquire MRC Global back in June 2025, tagging the deal at roughly $1.5 billion with debt factored in—a move that fits the recent wave of consolidation among suppliers to the energy and industrial sectors. Executives pitched $70 million in annual cost savings within three years. The tie-up is set to bump up DNOW’s presence across energy, gas utility, and industrial markets. 4
Traders are watching to see if DNOW can halt its slide to fresh lows as it grapples with U.S. systems problems and clarifies its 2026 strategy. A concrete timeline for ERP stabilization — showing exactly how much revenue “leakage” is at stake — could swing the stock harder than another quarter’s worth of steady demand would.
The bear case writes itself: if DNOW’s ERP headaches persist, sales could keep sliding and margins might take another hit—with investors left guessing, no fresh outlook to go on. After shares tumbled Feb. 20, one securities law firm announced it’s looking into possible claims, piling yet more noise onto the stock. 5
Eyes turn to DNOW’s upcoming quarterly report, where investors hope for more clarity around guidance and how integration is tracking. MarketBeat pegs April 30, before the bell, as the next likely earnings date, but DNOW hasn’t put out an official schedule yet. 6
