NOW Inc (DNOW) Q4 2019 Earnings Call Transcript

NOW Inc (DNOW) Q4 2019 Earnings Call Transcript

[Operator Instructions] And I will now turn the call over to Senior Vice President and Chief Financial Officer, Dave Cherechinsky.. Good morning and welcome to the NOW Inc. fourth quarter and full-year 2019 earnings conference call.. With me today is Dick Alario, Interim Chief Executive Officer.. 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, excluding other costs; and diluted EPS, excluding other costs.. While the efforts have produced material positive results, it's clear that market conditions require that we do more to rationalize our cost structure in order to yield a greater productivity result than the Company has historically delivered.. Distribution companies like ours generally feel the impacts of a slowdown early as customers reduce or stop spending and seek to conserve cash.. In a year that has seen our customers exercise greater capital discipline, we persisted in optimizing our business by recalibrating our footprint and embracing technology to more efficiently service our customers.. We achieved material cost reductions and facility consolidations during the fourth quarter and we will continue to do so as the market rebalances, better positioning our Company to service our customers