Zita rangu ndinonzi Sheryl uye ndichange ndiri mushandisi wako nhasi.Panguva ino, vatori vechikamu vose vari mukuteerera-chete.Gare gare, tichava nechikamu chemibvunzo nemhinduro [Manotsi kuVashandi].
Ini zvino ndichaendesa kufona kuna Brad Wise, VP weDhijitari Strategy uye Investor Relations.Wakachenjera, unogona kutanga.
Waita hako Shirley.Mangwanani uye tinokugamuchirai kune NOW Inc.'s Fourth Quarter and Full Year 2021 Earnings Conference Call.Ndinokutendai nekubatana nesu uye nekufarira kwenyu NOW Inc.Ndineni nhasi ndiDavid Cherechinsky, Mutungamiriri uye Chief Executive Officer, naMark Johnson, Mutevedzeri weMutungamiriri Mukuru uye Chief Financial Officer.Tinoshanda zvakanyanya pasi pehurukuro yeDNOWNOW uye DistributionNOW tinzwei hurukuro yedu yeDNOWNOW W uye DNOW, inova yedu NYSE tickers.
Tapota cherechedzai kuti zvimwe zvekutaura kwatinoita panguva yemusangano, kusanganisira mhinduro kumibvunzo yenyu, zvinogona kunge zvine fungidziro, fungidziro uye fungidziro, kusanganisira asi kwete kugumira pane zvekutaura nezve bhizinesi rekambani yedu. Aya mazwi ekutarisa mberi mukati mezvinoreva mitemo yeUS federal security, zvichienderana neruzivo rushoma kubva nhasi, uye zvinogona kushanduka. Izvi zvinogona kukonzeresa uye zvisingatarisike pane izvo zvinokonzeresa uye zvisingatarisike pazvingango siyana. zvirevo zvicharamba zviripo muchikamu chekota kana kuti gare gare mugore. Hatiite chisungo chekuvandudza pachena kana kudzokorora chero chirevo chekutarisa mberi kune chero chikonzero. Pamusoro pezvo, iyi nhare yemusangano ine ruzivo rwenguva uye inoratidza kutonga kwakanaka kwemaneja panguva yekufona kwemusangano. Ndokumbira utarise kuNOW Inc.'s ichangoburwa yeFomu 10-K uye 10-K uye 10-yekuchinjisa mafaera eExchange uye 10-Q faira reSecurities rine chekuita neSecurities yeQ faira zvino kuita bhizinesi redu.
Ruzivo rwekuwedzera uye ruzivo rwekuwedzera rwemari uye rwekushanda runogona kuwanikwa mukuburitswa kwemari yedu kana pawebhusaiti yedu pa ir.dnow.com kana mumafaira edu neSEC.Kupa vanoisa mari rumwe ruzivo rwakanangana nekuita kwedu sezvakatemwa maererano neUS GAAP, unozoona kuti isu tinoburitsawo akasiyana siyana asiri eGAAP matanho emari, anosanganisira EBITDA, tisingasanganisi mamwe mitengo, dzimwe nguva inonzi EBITDA;Net mari, kusasanganisa mamwe mari;mihoro yakadzikiswa pachikamu chimwe nechimwe, tisingabatanidzi zvimwe zvinodhura. Imwe neimwe haisanganisi kukanganiswa kweimwe mari uye nekudaro haina kuverengerwa zvinoenderana neGAAP.Kuti wirirane nemanejimendi kuongororwa kwemashandiro ekambani uye kufambisa kuenzaniswa kwekuita kwedu nekuita kwemakambani evezera mukota yechina uye gore rakazara rakapera Zvita 31, 2021, EBIT isingasanganisire mitengo yeDA.Inosanganisira isiri-cash stock-based compensation cost.Nhambo dzapfuura dzakashumwa dzakagadziridzwa kuti dzienderane nezvinoitwa panguva ino.
Ndokumbira utarise kuyananiswa kweimwe neimwe yeaya asiri eGAAP matanho emari kune ayo anonyanya kuenzaniswa eGAAP chiyero chemari, pamwe neruzivo rwekuwedzera rwakapihwa pakupera kwekuburitswa kwemari yedu. Kubva mangwanani ano, chikamu cheInvestor Relations chewebhusaiti yedu chinosanganisira mharidzo inovhara mhedzisiro yedu yekota uye yakazara-gore 2021 uye zvakakosha zvekutora. Fomu 10-K nhasi, iyo ichave iripo zvakare pane yedu webhusaiti.
Ndatenda, Brad, uye mangwanani mese. Pakufona kwataitambira gore rapfuura, patakazopora kubva pagore iro indasitiri yakanga yatsungirira misika nemamiriro ezvinhu akaipisisa, DNOW yakapindura nekukurumidza uye zvine mutsindo kudzivirira kwayo pasi uye kugadzira danho rekubudirira mune ramangwana.Base.Tinotenda kuti musika uye mashandisiro atinoita vatengi zvakachinja panguva iyoyo, uye danho rakasimba rinodiwa kutsanangurazve mupi wedu, vatengesi uye bhuku rekutamba revatengi, uye kugadzirisa modhi yedu yekushandisa kuti ipindure sezvo hupfumi hunotanga kusimba.Flourish.Kuderera kwehupfumi kunokurudzira shanduko, uye ndakaona pano mangwanani ano, ndichishamiswa neDNOW vane tarenda, vakadzi vanotarisa mutengi nevarume vasina kungogamuchira chete, asi vakafambisa shanduko. Migumisiro yezvisarudzo zvedu mumakore maviri apfuura inooneka kwete chete mukuvandudzika kwemasikati neusiku mukushanda kwemari, asiwo mukukwanisa, chido chekushingaira mukupa rubatsiro rwevatengi vedu mukugadzirisa kushushikana kwehutano hwedu uye kugovera nharaunda yedu chido chekugadzirisa.
Muchikamu chekutanga chegore rino, takatanga kushanda paPermian Supercenter yedu itsva muOdessa, Texas.Iyi nzvimbo inowedzera nzvimbo yedu nekudyara mukati meimwe yenzvimbo dzakabatikana zvikuru dzinogadzira oiri muUnited States.Kuvapo kwakasimba munzvimbo yedu yesimba uye kusimba kweasset yeOdessa Pumps, Flexible Flow, Power Services uye TSNM yakasimba yemhando yevatengi , tinoronga kuzarura nzvimbo itsva yekutaura munharaunda kuti titsigire vatengi vedu sezvo chirongwa chavo chekuchera chinowedzera.Iyi nzvimbo ichave inonyanya kutsigirwa neSupercenter senzira yekuzadzika kwenharaunda uye kuwedzera kubudirira uye kuwedzera kushamwaridzana nevatengi vanotarirwa.
Ikozvino, tichienderera mberi nemhedzisiro yedu, mari yechina yekota yaive yadzika 2% kusvika $432 miriyoni pakupera kwenhungamiro yatakapa parunhare rwedu rwekupedzisira.Gore rakazara 2021 mari yaive $1.632 bhiriyoni, kuwedzera kwemadhora gumi nematanhatu kana 0.8% muna 2020 zvichienzaniswa negore rapfuura, zvichibatsira ku2020 tichifunga nezvekuita kwakasimba kwekutanga kweCOVID-40 mune imwe 6Q miriyoni isingakodzeri 1. mazwi, kwemwedzi mipfumbamwe yakapera Zvita 31, 2021, tisingatarise mari yekutanga yegore rega rega yakakwira $256 miriyoni, kana 25%, kubva pagore rapfuura.Mu 4Q21, gross margin yakawedzera zvakare kusvika pakakwirira-nguva yese ye23.4%, yakakwira 150bps sequentially. s margins kwegore rakazara 2021.Tiri munzvimbo ye inflation uye tinobatsirwa nayo.Asi kuita uku kunokonzerwa nekunyatsosarudza maitiro, uye takavaka hukama nevashambadziri vanoremekedzwa vanoita zvigadzirwa zvemhando yepamusoro uye ruremekedzo uye mubairo wekudzorera sezvatinoita.Kuwanda kwekutenga kwatinogona kubatanidza nekugovera kune vatinogovera vatinogovera, tinowana rubatsiro rwakanyanya kubva kune zvigadzirwa zvedu, uye tinowana rubatsiro rwakanyanya kubva kune zvigadzirwa zvedu, uye tinowedzera kubatsirwa kwechigadzirwa. plenishment environment yakawanda.
Uye nekuti isu tiri kusarudza kuti ndezvipi mitsara yezvigadzirwa, mabhizinesi, nzvimbo nevatengesi vachatsigira uye vatengi vanozotevera. Mukati mekota uye muna 2021, takaenderera mberi nekutarisa nekukura chikamu chedu chevashandi vega nekupa mavharuvhu epombi uye mafittings ekubatanidza zvakanaka uye matangi ebhatiri. zviitiko zvemitambo kune akati wandei eE&P vagadziri.
Kufambisa kukura kusvika muna 2022, takachengetedza zvibvumirano zvitsva zvePVF mukati mekota, kusanganisira mugadziri mukuru akazvimiririra ane midziyo muPermian, uye kushanda kwakananga-kune-kondirakiti ine mukana wekukwira kubva padanho rekutanga.Lithium Extraction Business Supply Agreement.Kumaodzanyemba kwakadziva kumabvazuva, takagamuchira order kubva kune yakazvimirira sherufu inogadzira muGulf of Mexico ine mugadziri anoyerera kuenda kune ayo pombi zvinhu zvakakuvadzwa neHurricane Ida August. , tinotarisira kuona kuenderera mberi kwechimbichimbi sekuchera uye kuunganidza zvirongwa, kuwedzera midstream takeaway capacity utilization, kutyaira mari yakawanda mumidstream kugadzirisa uye capex project.Our midstream mutengi mashandisirwo ainyanya kutariswa gasi rechisikigo uye yakabatana yakabudiswa mapurojekiti emvura, iyo yaiva pivot muzvikamu zvakapfuura.
Mumitambo yeMarcellas, Utica naHaynesville, takapa vagadziri vegasi vakati wandei vane akanyatsobatanidzwa akabatana skid ekugadzira kits uye transmitter receiver kits.Isu tinopa actuated mavharuvhu e akati wandei NGL transmission line mapurojekiti ekuwedzera apo isu tinopa rutsigiro rwehunyanzvi hwekushandisa chigadzirwa uye rutsigiro rwebasa remumunda kuisirwa mavharuvhu, kuyedza, kutanga uye kutumira. Tichitendeukira kuUS Process Solutions, takaona kuti vamwe vevatengi vedu vanofarira kuchera nekupedzisa izvo zvave kuderedza kudiwa kwemidziyo yedu inotenderera uye yekugadzira nekuda kweiyo iripo yekuchinjisa uye kugadzirisa kugona.Zvisinei, isu tiri kutanga kuona kukwidziridzwa kwemaodha sezvo vatengi vanobatana zvirongwa zvinoenda kunzvimbo dzine zvishoma zviripo. yeakakwira alloy yekuzviparadzanisa nevamwe uye ekudzora mavharuvhu epurojekiti yedu yemugodhi wetrona kumaodzanyemba kwakadziva kumadokero kweWyoming.
Chiitiko muPowder River Basin chakatanga kuenderera mberi sezvatakapa nhamba yezvikamu zvitatu zvekuparadzanisa nemavharuvhu uye instrumentation kune mukuru akazvimirira opareta uye brine kurapwa pasuru kune mumwe E&P opareta.Kudiwa kwedu mudziyo compressed mweya uye dryer kits inoramba irambe yakakwirira sezvo opareta kutsiva pneumatic masisitimu ane compressed mhepo masisitimu kuti abvise greenhouse pombi racks kubudiswa kwepombi hombe, isu takaputira mapombi akawanda. opareta uye akatiparadzanisa kubva kune yedu Tomball Texas kugadzira nzvimbo uye akagamuchira mirairo yakawanda yezvitsva zvinopisa, processor midziyo uye separators.Takabudirira kuwedzera yedu hydraulic jet pup renti, kutsiva ESP mafomu nekuwedzera kwekuita pane mamwe anochinjika ekurenda sarudzo sezvo vashandisi vakagamuchira mhinduro yedu.
KuCanada, takaona kuhwina kwakakosha mukati mekota, nemirairo yePVF kubva kune vagadziri vejecha remafuta eCanada makuru, majekiseni emvura kubva kuAlberta vanogadzira kumaodzanyemba kwakadziva kumabvazuva kweSaskatchewan, uye kune Artificial lift zvigadzirwa zvekugadzirisa capex mabasa pakati peCanada. s.Activity iri kuwedzera kune mapurojekiti madiki, ayo anofanirwa kutanga kuwana traction sezvo kwakawanda rig restarts kunoitika kuMiddle East.Mukuwedzera, basa rehurongwa hwekubhukidza rakawedzera kune mazhinji eEPCs atinogara tichiita nawo bhizinesi.Zvimwe zvinohwina zvinohwina chikamu ichi zvinosanganisira kupa nhamba huru yemavharuvhu emagedhi, globe uye cheki mavharuvhu, tambo dzemagetsi uye fittings for the cogeneration powerplants in the UK Mabhoti kuWest Africa.
Zvakare checherechedzo, takapa pombi dzekugadzirisa uye zvirongwa zvepurojekiti kuNOC muOman uye mutsara wegedhi bhora uye cheki mavharuvhu enzvimbo yekugadzira gasi muKurdistan. Mumabasa edu eUAE, tinopa mavharuvhu emagetsi emagetsi ekudzoreredza emethylene muIndia refineries uye EPCs emapurojekiti ekugadzira triethylene glycol muIraq. .Indasitiri yedu yanga ichibata nekukwira kwemitengo yezvinhu uye kukanganisa kuwanikwa kwechigadzirwa kunokonzerwa nekushomeka kwemagetsi uye kunonoka.Chikwata chedu chekugovera cheni chakatarisana nekuderedza kuvhiringika nekuona kuti tine chigadzirwa chakakwana kutsigira vatengi vedu.Tinowedzera mari yedu yepasi rose nevatengesi vedu kuti tive nechokwadi chekuti tinokwanisa kukoshesa mavhoriyamu aripo, uku tichienzanisa nekuisa njodzi uye kugovera zvinhu zvemumba zvakakodzera dzimwe nzira dzevatengi vari kuramba vachivimba neDNOW kuti vawane mhinduro dzinozadzisa zvavanoda.Izvi zvakonzera kuti vamwe vatengi vedu vawedzere mazita evagadziri vakatenderwa vachishandisa AML yeDNOW.
Tendeukira kuchirongwa chedu cheDigitalNOW.Mari yedu yedhijitari sechikamu chemari yese yeSAP yaive 42% yekota.Ticharamba tichishanda nevatengi vedu vekubatanidza dhijitari kuti tiwedzere kusimudzira ruzivo rwavo rwe-e-commerce nekugadzirisa zvinyorwa zvezvigadzirwa zvavo uye kugadzira zvigadziriso zvekufamba kwechinyakare kuburikidza neyedu shop.dnow.com chikuva. vazhinji vevatengi vedu vanogadzira uye eSpec air compressor uye dryer mapakeji kuti akubvumire kutsiva pneumatic masisitimu mukutsigira kudiwa kweanoshanda kuderedza greenhouse gasi kubuda.Kuwedzera, mamwe emakambani edu epurojekiti yevatengi anoshandisa eSpec kubatsira kuvaka nekuvaka mabhidhi epurojekiti, nepo vamwe vachiishandisa kune saizi yekutanga uye yekugamuchira mapakeji ekutaura.Pakupedzisira, takatangisa muAccessory control yevatengi. ZVINO zvigadzirwa zvinosanganisira makamera, masensa, makiyi akangwara, mabarcode, RFID uye otomatiki yekuunganidza data mhinduro dzinogonesa vatengi vedu kubata zvirinani uye kudzora hesiti yavo pasina kuunza mutengo wenzvimbo yemunhu.
Ikozvino, ndinoda kutaura zvimwe zvine chekuita nekuchinja kwesimba.KuUS Gulf Coast, takapa duplex simbi isina venous pombi kits yebiodiesel refinery inoshandura mafuta emhuka kuita biodiesel, uye biopumps yemagetsi ekugadzira marori emagetsi muTexas.MuCanada, takahwina maodha akawanda e zero-emission actuation, mapurojekiti akaitwa muAlbertdriation actuation mapurojekiti muAlbertdri anobata zvakanaka mavharuvhu ekuchengetedza kabhoni uye mavharuvhu ekuchengetedza eAlbertdri rs kutora helium yepamusoro-soro yekuongorora makambani ekupedzisira misika.Kubudirira uku kunoratidza kuti zvingani zvezvigadzirwa zviripo zvatinopa zviri kuwedzera mumisika yekukura yakadai se carbon capture uye high-tech industrial industry.Tinoramba tichitarisa uye tichitarisa kuwedzera kwehuwandu hwemabasa ekuchinja simba.Chikwata chedu chekusimudzira bhizinesi chave chichibata maRFI akasiyana-siyana uye RFPs kune vatengi vakawanda vane chokuita nekugadzirisa dhiziri, carbon dioxide uye carbon dioxide inochengetedza, inogadzirisa carbon dioxide uye kuchengetedza air, air capture, air cap, carbon dioxide uye dura rekuchengetedza mhepo, carbon dioxide uye kutakura mhepo yakananga. mapurojekiti ekuchengetera.Patinoongorora mabhiri uye zvinhu muchirongwa chedu chekuchinja kwesimba remagetsi, tinoshanda nechikamu chedu chekugadzira kuti tive nechokwadi chekuwana huwandu hwakakura hwezvigadzirwa zvakakodzera izvo zvichashandira aya ekupedzisira misika iri kuwedzera.Nezvo kunze kwenzira, regai ndizviise kuna Mark.
Maita basa Dave nemangwanani mose.Kuna kwechina 2021 mari inosvika $432 miriyoni yakadzikira 2% kubva pachikamu chechitatu, zvakanyanya nekuda kwekudzikira kwemwaka kwakakonzerwa nezororo uye mashoma emazuva ekushanda ayo kutungamira kwedu kwaitarisira zvirinani.Kuna kota 2021 mari yeUS yaive $303 miriyoni, yakaderera $9 miriyoni kana 3% kubva pachikamu chechitatu cheMagetsi eUS yakaderera chikamu chechitatu cheCentre 9%.O 4% zvakateerana, uye mari yeUS process Solutions yakawedzera 2% zvakateerana.
Kuendesa kuCanada chikamu.Chikamu chechina cheCanada 2021 mari yaive $72 miriyoni, kuwedzera kwemadhora 4 miriyoni kana 6% pamusoro pekota yechitatu.Kuenzaniswa nekota yechina ya2020, mari yakakwira yakakwira madhora mamirioni makumi maviri nemana kana makumi mashanu muzana gore negore.Chikwata chechina chakasimba cheCanada chakafambiswa nekuwedzera kudiwa mumusika wemagetsi weCanada, pamwe chete nevatengi vedu vakavimbika vanopa uye kugovera tekinoroji. miriyoni, zvichidzika zvishoma zvakatevedzana uye zvichidzika madhora miriyoni maviri kana kuti yakati sandara zvichienzaniswa nechikamu chechitatu, zvichipiwa kukanganiswa kwemari yekunze isina kusimba kana ichienzaniswa nedhora rekuAmerica. Mari yepasi rose yechina yakawedzera 21%, kana kuti madhora miriyoni gumi, zvichienzaniswa nenguva imwe cheteyo muna 2020. Gross margin yakavandudza 150 basis points kubva pachikamu chechitatu kusvika pa23.4. chetatu chesequential gross margin basis point kunatsiridza kana madhora miriyoni maviri yaive nhanho nekuda kwemadhora anosvika miriyoni imwe neimwe mumitengo yekufambisa uye mari yekutenga mukota yechina, zvese zviri kutarisirwa kudzoka paavhareji muchikamu chekutanga Level.
Kumwe kuita kwakanakira migero muchikamu chechina kwakakonzerwa nekuwedzera kwedanho rekutariswa kwevatengesi, izvo zvatisingatarisire kudzokorora pamwero wakafanana mukota yekutanga ya2022 sezvo pachikumbaridzo chehuwandu hwekutenga huwandu huchiiswa patsva. mazhinji emamwe mitsara yezvigadzirwa zvedu, apo isu takasarudza kutamira kune zvigadzirwa nemhinduro zvinopa kukosha kukuru kuDNOW nevatengi vedu. Kutengesa mudura uye mari yekutonga yakawedzera madhora 91 miriyoni mukota, ichikwira madhora 5 miriyoni zvakateerana, nekuda kwezvivakwa, kutama uye kubhadhara kwekubvisa kwemadhora 3 miriyoni, zviri nani-kupfuura-inotarisirwa mubhadharo weUS $ 19 miriyoni nekukurumidza. Sidies, pamwe nekudyara kwedu nemaune muzviwanikwa uye vanhu vari mumusika wakatsikirirwa wevashandi, kuti vajairane neDNOW kutenderera uku kwekukura. Sezvo matanho edu ekusimba ari kuramba achibereka zvibereko, tinogona kuona shanduko yakafanana mukuvaka kweWSA kunanga mukota yekutanga ya2022.
Kubva 2019, takadzikisa mutengo wepagore wekutengesa uye wekutonga nemadhora mazana maviri emamiriyoni, saka basa rechikwata chedu kushandura purofiti yedu yekusingaperi modhi kuburikidza nemacycles riri kubhadhara. Kuenda kumberi, tinotarisira kuti WSA ichadzikira mukota yekutanga, pedyo nechikamu chedu chechitatu, sezvo tichiona zvirongwa izvi zvichitora danho padanho repamusoro remari yemadhora uye kubhadharisa mari inosvika mamirioni matatu. zvine chekuita nekubuda kwezvinhu zvidiki uye zvekambani panguva iyo takabatanidza zvivakwa gumi neshanu muchikamu chechina. Mari yeGAAP yechikamu chechina yaive madhora miriyoni gumi nemaviri kana $0.11 pachikamu, uye mari isiri yeGAAP isingabatanidzi mimwe mitengo yaive $8 miriyoni kana $0.07 pachikamu. 3.9%.Sezvakataurwa naBullard, kuyananisa kwedu EBITDA yazvino neyeramangwana kunowedzera kune isiri-cash stock-based compensation cost per period.Stock-based compensation cost inosvika $2 million per quarter muna 2021.Tanga takatarisana nekuramba tichiona nekuita zvirongwa zvekuvandudza maitiro edu ekushanda uye kuwedzera kukosha kwedu kune vatengi vedu zvemari. Mari ye2021 yemadhora mazana mana nemakumi mana nemaviri emamiriyoni emadhora yaive 35% yakakwira kupfuura chikamu chechina 2020, uye kuyerera kweEBITDA kwaive makumi matatu nepfumbamwe muzana, kana kuti kota EBITDA $44 miriyoni gore negore.Kuyerera kwakasimba uku musanganiswa wenzvimbo yedu yakagadziridzwa yekuverenga, miganho yezvigadzirwa zvepamusoro uye kushanda nesimba, zvichikonzera kukosha kukuru kune vatengi vedu uye mutsetse wedu wepasi.
Kana tichitarisa EBITDA yegore rose, takachinja kubva mukurasikirwa nemamiriyoni makumi mana nemanomwe emadhora muna 2020 kuenda kune yakanaka EBITDA yemamiriyoni makumi mana nemashanu emadhora muna 2021 kana kuvandudzwa kweEBITDA kwemwedzi gumi nemiviri yemadhora 92 miriyoni nemari yakafanana. Kumwe kubudirira muchikamu chechina kunosimudzira sarudzo dzedu dzeramangwana kugadziridzwa kwedu kwechikwereti chechikwereti chevakuru vasina kudhonzwa, icho chawedzerwa kusvika muna Zvita 2026, uye kuwedzera pamari yedu yazvino $313 miriyoni Ipa mari yakakwana pamusoro penzvimbo dzemari. Chikwereti chose chakaramba chiri zero, kusanganisira zero drawdowns mukati mekota, 3 miriyoni yemadhora uye 3 miriyoni $51, uye mamwe miriyoni makumi matatu nemadhora mazana maviri emadhora, uye 31 miriyoni $5. 8 miriyoni munzvimbo dzechikwereti dziripo.Maakaundi anogamuchirwa aive madhora mazana matatu nemazana mana emadhora, akakwira 2% kubva muchikamu chechitatu, nhamba yaive madhora mazana maviri nemakumi mashanu emamiriyoni, yakakwira madhora 6 miriyoni kubva muchikamu chechitatu, uye chikamu chetatu chechikamu chetatu, uye nhanho dzekota dzakatendeuka dzakapetwa ka5.3.Maakaundi anobhadharwa aive madhora mazana maviri nemakumi matatu nemashanu, pasi ne3% kubva muchikamu chechitatu cha2021.
Mari yekushanda, isingabatanidzi mari, sechikamu chechikamu chechina chemari yegore negore yaive 11.6% kubva muna Zvita 31, 2021. Isu tinotarisira kuti mari yekushanda iyi iwedzere zvishoma sezvo isu tichida kufambisa kukura kuburikidza nekuwanikwa kwechigadzirwa kutsigira vatengi vedu. ye35% yekukura kwemari mukota yechina kana madhora zana nemakumi matatu emamiriyoni mukukura kwemari zvichienzaniswa nekota yechina ya2020, takagadzira madhora mazana maviri neshanu emamiriyoni emadhora mukuyerera kwemahara muna 2021, inova yedu yakajairika Nguva yenguva yaizoshandisa mari padanho iri rekukura. , uye isu tine tarenda, zviwanikwa uye simba rekukura mutsara wedu, kukura bhizinesi rinokurumidza uye kugadzira kukosha kunoenderera kune vatengi vedu uye vanogovana.
Maita basa Mark.Zvino, mamwe emashoko ekubatanidzwa uye kutora, iyo inonyanya kukosha pakugoverwa kwemari inoramba iri mikana yekuwedzera purofiti.Kuburikidza nekubatanidzwa uye kutora, chinangwa chedu ndechekusimbisa nekuwedzera bhizinesi rezvigadzirwa, geographies kana mhinduro dzatinopa vatengi vedu, uye kuita kuti masangano aya awane mari mukudzoreredza kwemusika uye kuvaka mikana yekuvandudza bhizinesi apo tinozoenderera mberi nekuita mibairo. Strategic focus areas, kunyanya muprocess solutions and different product lines, pamwe nemisika yemaindasitiri.Pane every transaction tarisiro, kune mapato maviri anobatanidzwa.Saka, zvinotora nguva nehunyanzvi kusvika pamhedziso yekuti nemitengo yemafuta mu$90s uye nehupfumi hwese hwakasimba, tarisiro yemutengesi yawedzera, asi isu tiri kutsvaga kusimba uye kwakasimba kwemari kwekambani. mupombi yedu, uye isu ticharamba tichisarudza uye nehunyanzvi apo isu tinotevera uye pakupedzisira kuyambuka mutsetse wekupedzisira.
Mukati mezvikamu zvitanhatu zvapfuura, vagadziri veoiri vakanetseka kudzikisa huwandu hwemafuta epasi rose, kuburikidza nekubatanidzwa kweNorth America E&P capital discipline uye OPEC + kuderedzwa kwekupa. Hunhu uhwu hwakonzera kukwira kwemitengo yezvinhu, kuvandudzwa kwemashizha uye kuita zvirinani kwemari kune vazhinji vevatengi vedu. Ini ndine tarisiro yekuti kupora kwazvino uye kumhanya kucharamba kuchiwedzera kudiwa kwezvigadzirwa zvedu nemasevhisi uku tichivandudza purofiti.Kune chikamu chedu cheUS, ndinotarisira kukura kwakasimba kwegore negore sezvo zvakakosha zvemusika zvichiramba zvichivandudzika.
Isu tinotarisirawo kuti bhizinesi redu rekuCanada richakura gore negore muna 2022. Tiri kuona zvimwe zviitiko muchikamu chemagetsi chichikuchidzira mapurojekiti epasi rose. Panguva imwecheteyo, nekuda kwekunonoka kupora kwebhizinesi redu repasi rese, tiri kugadzirisa tsoka yedu tichiona kusakanganiswa kwemazinga ebasa. Isu tinotarisira gore rinouya, 2022, kuona kukura mubhizinesi redu repasi rose. uye nyaya dzine chekuita nemamiriro ekunze muna Ndira, tinotenda kuti mari yeQ1 2022 ichakwira zvakatevedzana pakati pemadhijiti imwe chete muzana. 022. Isu tinotarisira gore rakazara 2022 EBITDA mari inowedzera kukura muchikamu chepwere, ichitungamirwa nekuenderera mberi kwemusika, gross margins, yakafanana neyegore rakazara 2021 percentage levels.Apo COVID, geopolitical issues uye supply chain volatility zvakagadzira yakadzama mamiriro ezvinhu muUS$220 miriyoni uye isu tinotenda kuti mari inodarika madhora mazana maviri emadhora eUS inogona kudarika madhora mazana maviri nemakumi maviri emadhora.
Ikozvino, ndichaongorora patiri padanho rekutanga rekuwedzera kwemusika kwenguva refu. Gore rapfuura, taitarisira gore rakazara 2021 mari yaizodzikira, tichipihwa simba remari isati yatanga denda muQ1'20. Naizvozvo, tarisiro yedu iri pakugadzira mauto epasi rese ekutengesa, kugadzira yedu yekuzadzika modhi yekuvandudza kuwanikwa kwechigadzirwa uye basa revatengi, uye nekudzikisa kuderedzwa kwemutengo wemari. kutarisisa zviwanikwa zvedu zvakakosha, kubvumira vatengi kuona kukosha uye kuvandudza zvakanyanya mihoro uye kubuda kwemari mahara. Tichitarisa kumashure, kubva pakukura kwakasimba kwemari kusvika pakurekodha gross margins, rekodhi inventory turns, rekodha yekushanda capital turns, isu takapfuura zvatinotarisira mumaakaundi ese uye zvino tinotarisira kuti 2022 ive Kupinda mugore rechishanu rinoteedzana rezvakanaka yemahara ekuyerera kwemari, isu takadadisa kwazvo makore maviri ekupinda munhoroondo ye20. 2022.Ndinodada kuti tine zero chikwereti uye yakakwana yakazara liquidity inopa hunyanzvi kuchinjika kubhadharira organic kukura uye kubata inorganic mikana.Ini ndinotenda isu hatizosangana nekumanikidzwa kwemari nekuda kwechikwereti chebasa remubereko.Ndiri kufara nekushandurwa kwemodhi yedu yekushandisa uye kuti hypercenter yedu uye zvirongwa zvedunhu zvichatipa mukana wekuenderera mberi nekuvandudza mashandiro edu emari.
Ndiri kufara nekugona kwesangano redu uye kuti tiri kubatsira sei kugadzirisa matambudziko ezvekutengesa zvinhu uye zvipingamupinyi zviri kuitika nevatengi vedu.Ndiri kufara pamusoro pekugona kwedu kuwana zvigadzirwa kana dzimwe nzira.Ndinofara zvikuru nemanzwisisiro atinoita vashandi nevatengi vedu kukosha kwatinopa uye zviri kuratidza pamusoro pemiganhu yakawanda. Ndinodada nehutungamiriri hwedu, kudzidziswa uye zvirongwa zvebudiriro, nemikana yevashandi vedu kuti vagadzirise hunyanzvi hwavo. Ndinodada nekudyidzana kwedu nemakambani akakosha, uye tiri kutsvaga matekinoroji epamusoro kubva kunyanzvi kuti abatanidze mubhizinesi redu. Ndinodada kuti tine timu yekutengesa yakanakisa uye yakakomba, isinganeti, inoisa vatengi muindasitiri yedu kuita kuti vatengi vatarise vashandi vedu. shanda uye ubudirire.
Pakupedzisira, kunze kwezvinhu zvose, zvikomborero uye kubudirira, tine simba rinoshamisa paDNOW.Ndinoda kuti vashandi vedu nemhuri dzavo vazive kuti tiri kufamba kubva pakudzivirira, kudzivirira uye kuzeza kuenda kune proactive, kukunda, kuzvikudza uye kufara. vatengi vachitsvaga mhinduro uye ruzivo rwekubatana Izvi zvichatibatsira kuti tirambe tichihwina musika.Tiri papi, isu tiri zvatiri nekuda kwako.Nezvo kunze kwenzira, ngativhure kudanwa kumubvunzo.
Uyu ndiAdam Farley wekuNathan. Yekutanga igross margin, inflation inogona kukwira muhafu yekutanga yegore, DNOW inotarisira kuti gross margin ikwire nekufamba kwenguva paine kudzvanyirirwa kwegross margin, izvo zvinowanzoita kuti inflation inonoke?
Zvakanaka, zvinoenderana nemutsara wechigadzirwa chakakodzera. Isu takave neimwe yemitsara yakabudirira kwazvo yechigadzirwa maererano nekukura kwemariji, kunyangwe mutengo wedu wakakura kwazvo kunze kwepombi.Pipe ndiyo pombi yatichiri kuchengetedza mutengo wepombi isina musono, pombi isina musono ndiyo huru pombi yatinotengesa, uye pombi yesimbi inogona kuwedzera ruzivo mushure mehafu yekutanga yegore. inogona kugamuchira zvimwe zvigadzirwa gare gare gore rino, kwete isu chete, hongu, asi vakwikwidzi vedu uye vatengi vedu.Izvo zvinogona kukudza mibairo yatinotarisira kuona pamitsetse yezvigadzirwa.
Isu tinoona kukwira kwemitengo kwakakura kuchienderera mberi.Munyaya yako, Adam, izvi zvinogona kudzikira nepakati pegore.Asi nemapombi kunyanya, handizivi kana zviri izvo, uye kune mazhinji emitsara yechigadzirwa yatinotsigira, nguva dzekutungamira dzichiri dzakareba.Saka ndinofunga takatungamira 2022 gross margin kusvika padanho repamusoro, iro rakanyanya kufanana nerekodha ye20's inoteedzana. nguva yekugamuchira.Inoenderana nekuti yakasimba sei musika wedu uye kana inflection point inoitika.Ndinoreva, ndakambotaura nezve kunonoka kutanga kwaNdira, uye ndinofunga kuti zvinhu zvichawedzera kupisa pano, izvo zvinoreva kushaikwa kwakawanda muhafu yekutanga, pamwe muhafu yechipiri.
Uye tobva tasimuka kuti tibude mumutsara wechigadzirwa chepasi-pasi, tave kubuda mubhizinesi repasi-pasi paDNOW.Pachine basa rakawanda rinofanira kuitwa here, kana kuti kusimudza kunorema kwakanyanya kuitwa?
Zvakanaka, tatove munzira, ndichataura izvi. Saka kwandiri, tine kushanda kwakasimba kwemari mumatunhu edu, matunhu nekuda kwekufamba, mabhajeti evatengi, uye kubatanidzwa kwevatengi, izvo zvese zvinokanganisa kubudirira kwevatengi venzvimbo yechigadzirwa, nezvimwewo, izvo zvinogara zvichichinja. Kwandiri, ibasa rekurima gadheni, kuve nechokwadi chekuti tiri kuisa pfungwa dzedu pazvinhu zvishoma, kuitira kuti tive nechokwadi chekuti tinokwanisa kugovera zvinhu zvedu zvakanaka, kuitira kuti tigovane mari shoma kuitira kuti tigovane zvinhu zvedu. gadzirira ramangwana uye ramba uchikura kambani.Saka ndinongofunga kuti ichokwadi chinoenderera mberi chebhizinesi kuti zvisinei kuti uri muindasitiri ipi, unogara uchizoda kuisa fetereza nemasora uye kudyara zvakare uye kugara uchiisa bhizinesi munzvimbo yakanakisa muindasitiri.
Saka chingori chinhu chirikuenderera mberi.Panyaya yekuchinja kukuru kwezvimiro, ndinofunga kuti tapedza.Ndinofunga kuti tabuda mumaitiro ekudzikisa mutengo.Tiri mune yandinodaidza kuti kuzadzikiswa kwekufamba kwechikamu apo tinoda kuisa chikamu chekuzadzika kwedu kumatunhu makuru emikana, sekumira munzvimbo dzakaita saWilliston, Houston, Odessa, uye Casper. mune bhizinesi, bhizinesi rezuva nezuva, mapurojekiti makuru, fungidziro.Tinoda kuita matunhu.Tinoda tarenda repamusoro kuti titarise cheni idzi dzekugovera, tinoda mamwe akasiyana-siyana emanodhi kana nzvimbo dzekutumira kana nzvimbo diki dzemunharaunda dzine hukama hwepedyo nevatengi.Saka ndiri kuona izvi zvichiri kuitika, asi zviri kukurumidza zvino uye zvirikufadzwa nazvo.
Dave, ndinoda kutanga neWSA, zvinonzwika sekutungamira kwekota yekutanga kwakajeka, zvichida mukati mechikamu chechitatu chegore rapera. Ndanga ndichishamisika kana iwe unogona kuvandudza huzivi hwedu hwepamusoro-soro pano, ndinofunga kuti iwe wakataura chikamu chekupedzisira kuti pamadhora ose emari iwe waitsvaga kuwedzera kweWSAs ye $ 0.03 kusvika ku $ 0.05. Saka kana iwe uchikwanisa kutipa iyo sequential mutsara wekuvandudza gore rose kana iwe uchikwanisa kutipa iyo sequential mutsara wekuvandudza kwegore rose. zvingabatsira.
Saka ndinofunga pakufona kwekupedzisira, ndakataura zvinhu zvishoma, tichine rondedzero yemapurojekiti atiri kushanda nawo kuti bhizinesi rifambe zvakanaka. Ndakati tinoronga kudzikisa WSA kusvika pagumi nembiri kusvika gumi nemashanu renji muna 2022. Sezvatakambotaurawo - ndakataurawo kuti pamadhora ega ega emari pamusoro pemazinga egore rapfuura, isu tichabvisa madhora 0.0 kusvika ku $0. t panguva imwecheteyo, kunyanya mumwedzi mishoma yapfuura, ndinofunga kuti pave nemazuva anopfuura zana kubva patakataura kune veruzhinji, uye kune rumwe rutivi, takabatsirwa zvakanyanya. Ndinotenda kuti mazhinji acho izano redu rekusimudzira uye kutarisa pazvinhu zvakanaka kuti tiwedzere mitengo, izvo zvinobva mukukwira kwemitengo yezvinhu, kushomeka kwechigadzirwa, kushaikwa kwekuwanikwa. Saka izvi, isu takawana zvakare mutengo wekutengesa pamusika mutsva. tichisangana negwara redu ra2022. Asi huzivi hwedu ndehwekudzikisa zvakanyanya WSA sechikamu chemari uye kuenderera mberi munzira yekuwedzera kugona.
Tinogona kudzikisa WSA sechikamu chemari neanosvika mazana maviri mapoinzi kubva 2021 kusvika 2022. Sezvandambotaura munzvimbo dzinoverengeka, tiri mukuvaka mode.Tiri mukukura mode.Tiri kukoshesa kukura pane inodhura, asi isu - sezvandakataura mukupindura kumubvunzo wekupedzisira, isu takatarisana nekuchinja modhi yedu, uye isu takaita nhanho yekutanga yemadhora mazana masere. 'Kune hutsinye kuenda kumberi nekuti isu tiri - kunyangwe isu tine gwara pane izvozvo, ndinofunga kuti yakasimba mukutungamira kwedu kwese pamusoro petraffic nemari nezvimwe zvakadaro.Asi isu tichatarisa pakuva nevanhu vepamusoro muindasitiri.Tinotarisa kukunda makwikwi.Takatarisana nekukura. kudzikisa mutengo wekuita bhizinesi.Asi, sezvandakataura, isu tiriwo padanho rakasimba kota ino.Tiri kuisa mari mumichina mitsva yeramangwana kuti ikure bhizinesi uye izvo zvichabvisa mutengo.Asi isu tinonzwisisa kuti zvakakosha sei Lean, kuti ichatibatsira munguva dzakanaka uye dzakaipa, uye isu zvirokwazvo tiri kuenda pasi nenzira iyoyo.
Dave, sekunge iwe wakatevera pamusoro peiyo supercenter comment ipapo.Iwe uri mumusika wekukura izvozvi, uye uri kuratidza kuti iwe uchawana kuwedzera uye kuwedzera kurudziro muWSA lineup nekuti iwe uri kuisa mari ikoko.Saka ini ndiri kuda kuziva nezvehuzivi kana iwe uchibvumidza izvi zvekuisa mari, sezvawakangoshevedzera kune iyo supercenter, ndeapi mamiriro aungada kuita mune yekuvimba kuti uenderere mberi nekutsvaga mari?
Semuenzaniso, iyo Permian Basin, kwandiri, DNOW ine chiremba chakasimba kwazvo muPermian Basin, kwete chete kubva kune bhizinesi rebazi ratiri kukura, asi sezvandakataura, kubva pakuyerera kwepombi yeOdessa, TSNM Fiberglass uye Power Services. muPermian kuita shanu, muchikamu chimwe chePermian.Tinofunga, tichava nehuwandu hwehuwandu hwevatengi vedu.Tichakwanisa kutarisira zvinhu kubva munzvimbo shoma, kubva kune vanhu vanoshandura zvakawanda, tichava nemari yakaderera padhora remari, tinenge tisina kugovera inventory risk, iyo yandinoti exponential inventory risk kana iwe uchiparadzira zvishomanana inventory, iwe uchave nehuwandu hwehuwandu hwehuwandu hunotevera. Bhizinesi rakanaka
Dave anotarisira kuti handina kunyanya kugamuchirwa pano.Asi panguva yawataura, saka tora Permian semuenzaniso.Kana iwe - bvisa zvese zvawangotsanangura uye supercenter pro forma, zvakanaka here kutaura kuti mari yemushandi nemushandi wega wega uye mari inowanikwa paskweya tsoka yedenga remba inofanira kunge yakakwira kupfuura kusati kwaderera, zvisinei nekuti, Sezvawakataura kuti wakabatanidza matavi gumi kusvika mashanu?
Ndinobvuma.Zvino, maonero epadenga, handina chokwadi.Tinogona kunge tine nzvimbo yakawanda nhasi.Saka handisi kuzotaura pamusoro pazvo, asi tinofanira kuona kuvandudzwa, kunyatsovandudzwa kwemari pamushandi wega wega.Nekuti ini ndinonyanya kufarira mugumisiro wemari yatinoita kana kusarudza kurega kudarika mutsara wepamusoro.Asi kazhinji, mutsara wepamusoro unofanira kuuya nokukurumidza, asi ini ndiri kunyanya kufarira wa.
Saka mubvunzo wekutanga wangodzokera kumucheto.Nhungamiro inoita kunge inoreva kuti une muganho unosvika 21x mukota yekutanga, uye ndizvo zvauri kuvavarira kuwiriranisa gore rino ne 2021.Saka ndiri kuda kuziva kuti iwe unoona sei mafambiro ekumapeji?Kubva pane tarisiro iyoyo, zvinoita sekunge zvisingashamisi.Zvisinei, mutengo wako wakanyanya kubva munaGunyana. imwe yepombi bloat. Uye zvino kana inoenderana ne21.9%, ndinofungidzira, patinopinda mu23 ne24, unofunga kuti unogona kuchengetedza iyo gross margin level kwemakore.
Ndinoda.Ndiri kureva, saka 2021 igore redu rakanakisa remagineti akakura. Gross margins yavandudzika zvakatevedzana kota yega yega.Saka tirikutarisira kusvika parunhare rwe22% muna 2022, takangwarisa nezvekutungamira pamagineti akazara nekuti takabudirira zvakanyanya muchikamu chepakati cheR20. gore, ndinofunga kuti pachava nekugadziriswa gare gare mugore rose, pamwe kunyange gare gare mugore repombi.Asi maererano nekuzvichengetedza munguva refu, ndinotenda kuti tinogona.Ndizvo zvandiri kureva.Hatina kutaura nezvazvo mumashoko akagadzirirwa, uye hatina kutaura nezvazvo muQ & A.Asi chaizvoizvo, muna 2021, takabuda muchikamu che2 kusvika ku20 yakabatanidzwa. Vashandi vashoma zana nemakumi maviri nevashanu pane zvataiva pakupera kwa2020, muchidimbu nekuti takasiya mamwe mabhizinesi akaderera. Hatisi kuona kuti tiri kuyedza kuvandudza kushanda kwekambani. Kuedza kwevanhu ava hakuna kuburitsa purofiti. Saka takasiya mari inosvika mamiriyoni makumi matatu emadhora mubhizinesi. Izvi zvinoreva kuti, takarega vanhu vedu kuti vatarise pazvinhu zviri nani kubva kune zvakatipoteredza kuti tiite zvinhu zviri nani. izvo zvakaoma kuita, tinofanira kutarisana nekukwira kwemari yevashandi uye kugadzirisa inflation.
Saka ndinofunga, idambudziko - haisi misika chete iri kufambisa basa redu repamusoro.Kutaura chokwadi, ndakashanda zvakanyanya pane izvi parunhare rwekupedzisira, uye miganho yezvigadzirwa zvedu yakavandudzwa gore nepamusoro pemakore mashanu apfuura. Kana iri dambudziko kwandiri, kurima nekuchenjerera zvausingaite mumusika kuti uve nechokwadi chekuti vanhu vanotarisisa pane izvo zvakanaka. maererano nekuyerera kwegore, ndinofunga kuti tinofanira kungotarisa, ndinofunga kuti - kana zvimwe zvezvigadzirwa zvedu zvepamusoro-soro zvisingawaniki, saka chokwadi, tichaona musanganiswa wezvinhu zvinoderedza purofiti.Asi isu takatungamira miganho yakasimba kwazvo.
Kushandura zvishoma, ndinofunga kuti ndicho chinhu chinonyanya kukosha.Saka iwe unotungamira '22 kuti uwane mari shoma sevechiri kuyaruka.Kwandiri, izvi zvinoratidzika zvishoma.Ndinoreva kuti, rig count irikukwira 30% gore negore, uye US ingangodaro inotora 70% yebhizimisi rako.Saka, zvichibva pane izvo chete, iwe uri kumusoro kwe20%.Zvino, ndinoziva zvishoma uye zvakavanzika zvepasi rose, uye kune imwe nyika inofanirawo kuitika, asi kune imwe nyika inofanirawo kuitika kune veruzhinji. be up in 2022.Ndinoda kuziva kana iwe uchikwanisa kundibatsira kuona kana iyo 2022 mari yekutarisa yechikamu chenhare mudunhu ichave mune yakaderera pwere?
Saka isu tinobva pane zvatakaona mumazuva ekutanga e45 yekota. Isu tinobva pane zvatakaona maererano nekuwanda kwechigadzirwa.Tiri kutarisa kune vamwe vezera redu uye kuti vanoona sei misika, zvichienderana nezvatinoudzwa nevatengi vedu. Uye isu tinofunga kuti - handifungi - tiri kupa huwandu hwemitoro uye vechidiki muhuwandu hwehuwandu hwehuwandu hwehuwandu hwehuwandu hwehuwandu hwehuwandu hwehuwandu hwehuwandu huripo. neCanada, uyezve kukura kune mwero pasi rose.Asi kana ukatarisa kuverengerwa nekupedzwa uye zvimwe zvezvinhu zvatakanga takatarisa pazviri, mabhajeti evatengi akaderedzwa kubva kunhamba idzodzo kwezvikamu zvishoma. kukosha, tabuda pamadhora mazana matatu emamiriyoni emari.Saka izvo zvichatiisa muna 2022 Yakawana mari inosvika 2% kana 3% yakakwira, asi isu hatibatsirwe kubva pazasi.Saka ndinofunga kuti imhando yakanaka zvichienderana nekuti makore anofamba sei, saka ndinofunga tichaomerera kune izvozvo.Handifungi kuti inochengetedza.Ndinofunga inofanira kunge iri nhamba yakasimba kwazvo.
Yekupedzisira kwandiri ndeyekuti unotarisira kuburitsa mari yemahara muna 2022. Unofunga kuti unogona kuita zvirinani kupfuura mamirioni makumi maviri neshanu muna 25? Kushandiswa kwevhavha yekushandisa kunokanganisa sei maonero aya?
Ndinofunga kuti iri munharaunda iyoyo.Ndinoreva, pane kadhi yemusango muzvigaro uye nguva yezvinyorwa - ndicho chinhu chimwe chete mune zvinotyaira, zvingave zvakanyanya kana zvisingasviki mamiriyoni makumi maviri nemashanu emadhora, asi ndinofunga kuti tinogona kukunda $ 25 mamiriyoni.
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