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.Nhasi ndiina David Cherechinsky, Mutungamiriri uye Chief Executive Officer, naMark Johnson, Mutevedzeri weMutungamiriri Mukuru uye Chief Financial Officer.Tinoshanda zvakanyanya pasi pehurukuro yeDNOWNOW uye tinzwei muhurukuro yedu yeDNOWNOW uye neDNOWNOW kuDistributionNOW uye DNOW, ayo ari edu NYSE tickers.
Tapota cherechedzai kuti zvimwe zvemashoko atinoita panguva yemusangano, kusanganisira mhinduro kumibvunzo yenyu, zvinogona kunge zvine fungidziro, fungidziro uye fungidziro, kusanganisira asi kwete kuganhurirwa kune zvakataurwa pamusoro pezvingaitwa bhizinesi rekambani yedu. Aya zvirevo zvemberi mukati mezvinorehwa nemitemo yeUS federal security, zvichienderana neruzivo rushoma kubva nhasi, uye zvinogona kushanduka. zvirevo zvemberi izvi zvicharamba zvichishanda gare gare mukota kana kuti gare gare mugore. Hatiiti chisungo chekuvandudza pachena kana kudzokorora chero chirevo chekutarisa mberi kune chero chikonzero. Pamusoro pezvo, iyi nhare yemusangano ine ruzivo rwenguva uye inoratidza kutonga kwakanakisisa kwevatungamiri panguva yekudana kwemusangano wehupenyu. Ndokumbira utarise kune NOW Inc.'s most recent Forms 10-Q yeExchanged file uye Securities Commission ikozvino yakawanda uye Securities faira ikozvino yeSecurities Commission. nhaurirano yezvakanyanya njodzi zvinhu zvinokanganisa 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 naizvozvo haina kuverengerwa zvinoenderana neGAAP.Kuti wirirane zvirinani nemaneja maonerwo emashandiro ekambani uye kufambisa kuenzaniswa kwekuita kwedu nemashandiro emakambani 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 anofananidzwa neGAAP 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 ra2021 uye zvakakosha zvekutora. 2021 Fomu 10-K nhasi, 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.Economic downturns inokurudzira shanduko, uye ndakaona pano mangwanani ano, ndichishamiswa neDNOW's vane tarenda, vakadzi vakatarisa vatengi 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 kwechikwata chedu chekupa chishuvo chekupa vatengi vedu mukugadzirisa kwechido chedu uye kugovera nharaunda yedu. chain stress.
Muchikamu chekutanga chegore rino, takatanga kushanda paPermian Supercenter yedu itsva muOdessa, Texas.Iyi nzvimbo inowedzera nzvimbo yedu uye kudyara mukati meimwe yenzvimbo dzakabatikana zvikuru dzinogadzira mafuta muUnited States.Kuvapo kwakasimba munzvimbo yedu yesimba uye kusimba kweasset kweOdessa Pumps, Flexible Flow, Power Services uye TSNM yakasimba inokwezva mutengi. Permian.Mukati mekota, tinoronga kuvhura nzvimbo itsva yekutaura mudunhu kuti titsigire vatengi vedu sezvo chirongwa chavo chekuchera chinowedzera.Iyi nzvimbo ichave inotsigirwa zvakanyanya neSupercenter senzira yekuzadzika kwenharaunda uye kuwedzera kushanda nesimba uye kuwedzera hukama hwepedyo nevatengi vanotarisirwa.
Ikozvino, tichienderera mberi nemhedzisiro yedu, mari yechina yechina yaive yadzika 2% kusvika $432 miriyoni pakupera kwegwaro ratakapa parunhare rwekupedzisira.Gore rakazara 2021 mari yaive $1.632 bhiriyoni, kuwedzera kwemadhora gumi nematatu emamiriyoni kana 0.8% muna 2020 zvichienzaniswa negore rakapfuura, zvichibatsira muna 2020 tichifunga nezvekuita kwakasimba kwekutanga kweCCIDID0 miriyoni makumi matatu nemakumi matatu emadhora mazana matanhatu emadhora mazana matanhatu nemakumi matatu emadhora. Nemamwe mazwi, kwemwedzi mipfumbamwe yakapera Zvita 31, 2021, tisingatarise mari yegore rega rega yakakwira $256 miriyoni, kana 25%, kubva pagore rapfuura. Kuwedzera kwe21.9% kwemari yakawandisa kwegore rose ra2021. Tiri mumamiriro ezvinhu ekukwira kwemitengo uye tinobatsirwa nawo. Asi kuita uku kunokonzerwa nesarudzo yakangwarira, uye takavaka hukama nevashambadziri vanozivikanwa vanoita zvigadzirwa zvemhando yepamusoro uye ruremekedzo nekupa mubairo sezvatinoita. Kuwanda kwatingatenga kwatinogona kubatanidza uye kugovera vadyidzani kwakawanda, kunowedzera kushaikwa kwechigadzirwa chedu. uye mutengo wechigadzirwa, uye vatengi vedu vanobatsirwa nekuwanikwa munzvimbo yakasimba yekuzadzazve.
Uye nekuti isu tiri kusarudza kuti ndeapi mitsara yechigadzirwa, mabhizinesi, nzvimbo uye vatengesi vachatsigira uye vatengi vachatevera. Mukati mekota uye muna 2021, takaenderera mberi kutarisa uye kukura chikamu chedu chevashandi vega vega nekupa mavharuvhu epombi uye mafittings ekubatanidza zvakanaka uye matangi ebhatiri zvivako. hurongwa hwekutarisira zvinhu kuti utsigire kuwedzera kwekugadzirisa mari yekushandisa mabasa kune akati wandei makuru 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 murayiro kubva kune yakazvimirira sherufu inogadzira muGulf yeMexico ine mugadziri ayerera kuenda kune yayo pombi zvinhu zvakakuvadzwa neHurricane Ida August. area.Sequential midstream sales growth, tinotarisira kuona kuenderera mberi kwechimbichimbi sekuchera uye kuunganidza zvirongwa, kuwedzera midstream takeaway capacity utilization, kutyaira mari yakawanda mumidstream kugadzirisa uye mapurojekiti e capex.Our midstream mutengi kushandiswa kwainyanya kutarisisa gasi rechisikigo uye yakabatana yakabudiswa mapurojekiti emvura, iyo yaiva pivot munzvimbo dzakapfuura.
Mumitambo yeMarcellas, Utica naHaynesville, takapa vagadziri vegasi vakati wandei vane akanyatsobatanidzwa akabatana skid ekugadzira kits uye transmitter receiver kits.Tinopa actuated valves kune akati wandei NGL transmission line ekuwedzera mapurojekiti apo isu tinopa rutsigiro rwehunyanzvi hwekushandisa chigadzirwa uye rutsigiro rwebasa remumunda kuisirwa mavharuvhu, kuyedza, kutanga uye kutumira. Rocky Mountains.Kutendeukira kuUS Process Solutions, takaona kuti vamwe vevatengi vedu vanofarira kuchera uye kupedzisa izvo zvanga zvichideredza kudiwa kwemidziyo yedu inotenderera uye yekugadzira nekuda kweiyo iripo yekuchinjisa uye kugadzirisa kugona.Zvisinei, isu tiri kutanga kuona kukwidziridzwa kwemirairo sezvo mapurogiramu akabatana nevatengi anoenda kunzvimbo dzine mashoma aripo.Mamwe mapurojekiti anocherechedzwa anowanikwa panguva yekudyara kwechipfuwo chekugadzirisa uye kufambiswa kwechikafu chekugadzirisa. Rocky Mountains, uye takaunza musanganiswa wepamusoro alloy yekuzviparadzanisa nevamwe uye mavharuvhu ekudzora epurojekiti yedu yemugodhi wetrona kumaodzanyemba kwakadziva kumadokero kweWyoming.
Chiitiko muPowder River Basin chakatanga kuenderera mberi apo takapa nhamba yezvikamu zvitatu zvekuparadzanisa nemavharuvhu uye instrumentation kune mukuru akazvimirira opareta uye brine treatment package kune mumwe E&P opareta.Kuda kwechiridzwa chedu chakatsikirirwa mhepo uye dryer kits kunoramba kuchikwira sezvo vafambisi vanotsiva pneumatic masisitimu ane compressed air masisitimu kuti abvise greenhouse pombi racks racks emissions, isu takadzvanya pombi yepombi. skids kune mukuru opareta uye akatiparadzanisa kubva kune yedu Tomball Texas kugadzira nzvimbo uye takagamuchira mirairo yakawanda yezvitsva zvinopisa, processor midziyo uye separators.Takabudirira kuwedzera yedu hydraulic jet pup renti, kutsiva ESP zvikumbiro nekuwedzera kwekuita pane dzimwe nzira dzinochinjika dzekurenda 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 yeArtificial lift zvigadzirwa zvekugadzirisa capex mabasa pakati peCanada. Kuvapo kwevashandi kunokanganisa. Chiitiko chiri kuwedzera kune mapurojekiti madiki, ayo anofanira kutanga kuwana simba sezvo mamwe magadzirirwo ekutanga anoitika kuMiddle East. Pamusoro pezvo, basa rehurongwa hwekubhukidza rakawedzera kune mazhinji eEPCs atinogaroita bhizinesi nawo. Zvimwe zvinohwina muchikamu chino zvinosanganisira kupa nhamba huru yemavharuvhu egedhi, globe uye cheki mavharuvhu, tambo dzemagetsi uye matambo emagetsi ekugadzira magetsi muUK uye mafittings emagetsi ekugadzira magetsi muUK. Kazakhstan, uye simba remagetsi kune vanoshanda Bolts muWest 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 ekugadzirisa methylene muIndia refineries uye EPCs emapurojekiti ekugadzira triethylene glycol muIraq. Indasitiri muKuwait zvakaoma kuwana mabasa, tinopawo dzimwe nzira dzakakodzera kune vatengi vari kuramba vachivimba neDNOW kuti vawane mhinduro dzinozadzisa zvavanoda. Izvi zvakonzera kuti vamwe vatengi vedu vawedzere mazita evagadziri vakabvumirwa vachishandisa DNOW's AML. quarter.
Tendeukira kuchirongwa chedu cheDigitalNOW.Mari yedu yedhijitari sechikamu chemari yese yeSAP yaive 42% yekota. kota, chishandiso ichi chakabatsira vazhinji vevatengi vedu kugadzirisa uye eSpec air compressor uye dryer mapakeji kuti akubvumire iwe kutsiva pneumatic masisitimu mukutsigira kudiwa kweanoshanda kuderedza kuburitswa kwegasi regreenhouse. Pamusoro pezvo, mamwe emapoka edu epurojekiti yevatengi anoshandisa eSpec kubatsira kuvaka nekuvaka mabhidhi epurojekiti, nepo vamwe vachiishandisa kuita saizi yekutanga uye yekugamuchira mapakeji epakeji, isu takaparura egasi rekushandisa. Inventory control solutions kune vatengi.Zvigadzirwa zvedu zveAccessNOW zvinosanganisira makamera, sensors, smart locks, barcodes, RFID uye automated data collection solutions izvo zvinoita kuti vatengi vedu vagadzirise zviri nani uye vadzore zvinyorwa zvavo pasina kuunza mari yenzvimbo yevanhu.
Ikozvino, ndinoda kutaura zvimwe zvine chekuita nekuchinja kwesimba.PaUS Gulf Coast, takapa duplex simbi isina tsvina yevenous pump kits yebiodiesel refinery inoshandura mafuta emhuka kuita biodiesel, uye biopumps yemagetsi ekugadzira marori emagetsi muTexas.MuCanada, takakunda maodha akawanda e zero-emission actuation, mapurojekiti eAlbertdriation actuation, mavharuvhu ekuchengetedza eAlbertdri uye mavharuvhu ekuchengetedza ePC. matsime ekuongorora kubva kune vanogadzira kuti vabvise helium yepamusoro-soro yekuongorora makambani ekupedzisira misika.Kubudirira uku kunoratidza kuti zvingani zvezvinhu zviripo zvatinopa zviri kuwedzera mumisika yekukura yakadai se carbon capture uye high-tech industrial industry.Tiri kuramba tichitarisa uye kutarisa nhamba inowedzera yezvirongwa zvekushandura simba.Boka redu rekuvandudza bhizinesi rave richibata maRFI akasiyana-siyana uye RFPs kune vakawanda vatengi vane hukama nekugadzirisa mafuta ekufambisa mhepo, kushandiswa kwemhepo uye gaviso yakananga. carbon capture uye kuchengetedza, hydrogen uye carbon dioxide kutapurirana uye mapurojekiti ekuchengetedza.Sezvatinoongorora mabhiri uye zvinhu muchirongwa chedu chekushandura simba rekushandura, tinoshanda pamwe neboka redu rekugadzira kuti tive nechokwadi chekuwana kune huwandu hwakawanda hwezvigadzirwa zvakakodzera izvo zvichashumira izvi zvinowedzera kuguma misika.Nezvo kunze kwenzira, regai ndiishandure kuna Mark.
Maita basa Dave uye mangwanani mese. Chikamu chechina 2021 mari inosvika mamiriyoni mazana mana nemakumi matatu nemakumi matatu emadhora yakange yadzikira 2% kubva pachikamu chechitatu, zvakanyanya nekuda kwekudzikira kwemwaka kwakakonzerwa nezororo nemazuva mashoma ekushanda ayo kutungamira kwedu kwaitarisira zviri nani. Chikamu chechina 2021 mari yeUS yaive $303 miriyoni, yakaderera madhora 9 miriyoni kana 3% kubva pachikamu chechitatu cheMagetsi eUS chikamu chechitatu cheCentre 9%.O kota, yaive pasi ingangoita 4% zvakateerana, uye mari yeUS process Solutions yakawedzera 2% zvakateerana.
Kuendesa kuCanada chikamu.Muchina wechina weCanada 2021 mari yaive $72 miriyoni, kuwedzera kwemadhora 4 miriyoni kana 6% pamusoro pekota yechitatu.Kuenzaniswa nechikamu chechina cha2020, mari yakakwira yakakwira madhora mamirioni makumi maviri nemana kana makumi mashanu muzana gore negore.Chikwata chechina chakasimba cheCanada chakafambiswa nekudiwa kwakavandudzwa mumusika wemagetsi weCanada, pamwe nevatengi vedu vanovapa kukosha uye kugovera tekinoroji. mari inosvika mamiriyoni makumi mashanu nenomwe emadhora, yakaderera zvishoma zvichitevedzana uye yakaderera madhora miriyoni maviri kana kuti yakati sandara zvichienzaniswa nechikamu chechitatu, zvichipiwa kusarudzika kwemari yekunze isina kusimba kana ichienzaniswa nedhora rekuAmerica.Imari yepasi rose yechina yakawedzera ne21%, kana madhora miriyoni gumi, zvichienzaniswa nenguva imwe cheteyo muna 2020.Gross margin yakavandudza 150 basis points kubva pachikamu chetatu kusvika ku23.4%. the quarter.Inenge chikamu chimwe muzvitatu chesequential gross margin basis point improvement kana madhora miriyoni maviri yanga iri chinhambwe nekuda kwemadhora anosvika miriyoni imwe neimwe mumitengo yekufambisa uye mari yekutenga mukota yechina, izvo zviri zviviri zvinotarisirwa kudzoka kuavhareji yavo muchikamu chekutanga Level.
Imwe mhedzisiro yakanaka pamigero muchikamu chechina yakakonzerwa nekuwedzera kwemwero wekutarisa kwevatengesi, izvo zvatisingatarisiri kudzokorora pamwero wakafanana mukota yekutanga ye2022 sezvo pachikumbaridzo chekutenga vhoriyamu mazinga ari kusetwa zvakare. zvishoma mumimwe mitsetse yedu yechigadzirwa, sezvo isu tichisarudza kutamira kune zvigadzirwa nemhinduro zvinopa kukosha kukuru kuDNOW nevatengi vedu. Kutengeswa kwewarehouse nemari yekutonga yakawedzera madhora 91 miriyoni mukota, yakakwira madhora mazana mashanu emamiriyoni sequentially, nekuda kwezvivakwa, kutamiswa uye kubhadhara mari yemadhora mazana matatu emamiriyoni emadhora, zviri nani-kupfuura mhedzisiro yekumisikidzwa kweCOVID Miriyoni imwe yerubatsiro rwehurumende inoenderana nemadhora ekuAmerica, pamwe nekudyara kwedu nemaune muzviwanikwa uye vanhu vari mumusika wakatsikirirwa wevashandi, kuti vagadzirise DNOW kune uku kutenderera kwekukura. Sezvo matanho edu ekusimba ari kuramba achibereka zvibereko, tinogona kuona shanduko yakafanana mukuvaka kweWSA kuenda muchikamu chekutanga cha2022.
Kubva 2019, takadzikisa mutengo wepagore wekutengesa uye kutonga kwemari nemadhora mazana maviri emamiriyoni, saka basa rechikwata chedu kushandura purofiti yedu yemhando yepamusoro kuburikidza nemadhigirii riri kubhadhara. Kuenda kumberi, tinotarisira kuti WSA ichadzikira mukota yekutanga, pedyo nechikamu chedu chechitatu, sezvo tichiona danho iri richitora danho padanho repamusoro remari inobhadharwa uye imwe mari inobhadharwa. $3 miriyoni.Izvi zvinechekuita nekubuda kwezvishoma uye zvemakambani emakambani panguva yatakabatanidza zvivakwa gumi neshanu muchikamu chechina.Imari yeGAAP yechikamu chechina yaive $12 miriyoni kana $0.11 per share, uye mari isiri yeGAAP isingabatanidzi mimwe mitengo yaive $8 miriyoni kana $0.07 ichibvisa mari isiri yeDAAP - GAAP kana kuti EBITDA yaiva $17 miriyoni kana 3.9%.Sezvakataurwa naBullard, kuyananisa kwedu EBITDA yazvino neyeramangwana kunowedzera kune isiri-cash stock-based compensation cost per period.Stock-based compensation cost ye$2 million per quarter muna 2021.Tanga takanangana nekuramba tichiona nekushandisa hurongwa hwedu hwemari, kuwedzera kukosha kwemaitiro edu emari uye kuratidza kukosha kwemaitiro edu emari. Ndinoda kuratidza kuti chikamu chedu chechina 2021 mari yemadhora mazana mana nemakumi matatu nemaviri yaive yakakwira 35% kupfuura chikamu chechina 2020, uye kuyerera kweEBITDA kwaive 39%, kana kota EBITDA $44 miriyoni pagore.
Kana tichitarisa EBITDA yegore rose, takachinja kubva mukurasikirwa nemamiriyoni makumi mana nemanomwe emadhora muna 2020 kuenda kune yakanaka EBITDA yemadhora makumi mana neshanu muna 2021 kana kuvandudzwa kweEBITDA kwemwedzi gumi nemiviri yemadhora makumi mapfumbamwe nemaviri nemari yakafanana. Kumwe kubudirira muchikamu chechina kunosimudzira sarudzo dzedu mune remangwana kugadziridzwa kwedu kwenzvimbo yedu yechikwereti isina kudhonzwa, iyo yawedzerwa kusvika muna Zvita 2026, uye inowedzera pamari yedu yazvino $313 miriyoni Ipa mari yakakwana pamusoro pezvinzvimbo. mari iripo, uye imwezve $248 miriyoni muzvivakwa zvechikwereti zviripo.Maakaundi aiwanikwa aiva $304 miriyoni, akakwira 2% kubva pachikamu chechitatu, zvinhu zvaiva mamiriyoni mazana maviri nemakumi mashanu emadhora, $6 miriyoni kubva pachikamu chechitatu, uye kota nhanhatu kutendeuka kwenhamba kwakapetwa ka5.3.Maakaundi aibhadharwa aiva mamiriyoni mazana maviri nemakumi matatu nemashanu, zvichidzika ne3% kubva pachikamu chetatu chetatu.
Mari yekushanda, isingabatanidzi mari, sechikamu chechikamu chechina chemari yegore negore yaive 11.6% kubva muna Zvita 31, 2021. Isu tinotarisira kuti mari yekushandisa ichawedzera zvishoma sezvo isu tichida kufambisa kukura kuburikidza nekuwanikwa kwechigadzirwa kutsigira vatengi vedu. 2021, gore remakumi matatu neshanu muzana kukura kwemari mukota yechina kana madhora zana nemakumi matatu emamiriyoni mukukura kwemari zvichienzaniswa nechikamu chechina cha2020, takagadzira madhora mazana maviri nemashanu emadhora ekuyerera kwemahara muna 2021, inova yedu yakajairika Nguva yenguva yaizoshandisa mari padanho iri rekukura. ramangwana.Tinopemberera zvakare chikamu chakabudirira netarisiro yeramangwana, uye isu tine tarenda, zviwanikwa uye simba rekukura pazasi, kusimudzira bhizinesi rinokurumidza uye kugadzira kukosha kunoenderera kune vatengi vedu nevanogovana.
Maita basa Mark.Zvino, mamwe emashoko ekubatanidzwa uye kutora, iyo inonyanya kukosha pakugoverwa kwemari inoramba iri mikana yekuwedzera purofiti.Kuburikidza nekubatana uye kutora, chinangwa chedu ndechekusimbisa nekuwedzera bhizinesi rezvigadzirwa, geographies kana mhinduro dzatinopa vatengi vedu, uye kuita kuti masangano aya awane mari mukudzoreredza musika uye kuvaka mari inobatika kana tichizoenderera mberi nekuita mihoro. Kuongorora mikana munzvimbo dzedu dzekutarisa, kunyanya mukugadzirisa zvirongwa uye mitsara yezvigadzirwa zvakasiyana, pamwe nemisika yeindasitiri. Patarisiro yega yega yekutengeserana, pane mapato maviri anobatanidzwa. Saka, zvinotora nguva nehunyanzvi kusvika pamhedziso yekuti nemitengo yemafuta mumakumi mapfumbamwe emadhora uye hupfumi hwakasimba, tarisiro yevatengesi yakawedzera, asi isu tiri kutsvaga kusimba uye kusimba kwemutengo wekambani. dzakakwirira.Tiri kuongorora mikana yakawanda mupombi yedu, uye ticharamba tichisarudza uye tichishandisa mazano apo tinotsvaka uye pakupedzisira kuyambuka tambo.
Mukati mezvikamu zvitanhatu zvapfuura, vagadziri veoiri vakanetsekana kudzikisa kuwanda kwemafuta epasi rose, kuburikidza nemubatanidzwa weNorth America E&P capital discipline uye OPEC + kudzikiswa kwekupa. Hunhu uhwu hwakonzera kukwira kwemitengo yezvinhu, kuvandudzwa kwemari uye kuita zvirinani kwemari kune vazhinji vevatengi vedu. Ndine tarisiro yekuti kupora kwazvino uye kumhanya kucharamba kuchikwira kudiwa kwezvigadzirwa zvedu nemasevhisi uku tichivandudza purofiti.Kuchikamu chedu cheUS, ndinotarisira kukura kwakasimba kwegore-pagore sezvo zvakakosha zvemusika zvichiramba zvichivandudza.
Tinotarisirawo kuti bhizinesi redu rekuCanada richakura gore negore muna 2022. Tiri kuona basa rakawanda muchikamu chemagetsi richikuchidzira mapurojekiti epasi rese. Panguva imwe chete, nekuda kwekunonoka kupora kwebhizinesi redu repasi rese, tiri kugadzirisa matsindiro edu uku tichiona kusakanganiswa kwemasevhisi. Isu tinotarisira gore rinouya, 2022, kuona kukura mubhizinesi redu repasi rose. iyo COVID surge uye nyaya dzine chekuita nemamiriro ekunze muna Ndira, isu tinotenda kuti mari yeQ1 2022 ichakwira zvakatevedzana pakati pe-single-digit percentage renji. Tinotarisira gore rakazara 2022 EBITDA mari yakawedzera kukura muchikamu chepwere, ichitungamirwa nekuenderera mberi kwemusika, gross margins, yakafanana neyegore rakazara 2021 muzana mazinga. EBITDA mumadhora ekuUS inogona kupetwa kaviri muna 2022.
Ikozvino, ndichaongorora kuti tiri papi padanho rekutanga rekuwedzera kwemusika kwenguva refu. Gore rapfuura, taitarisira gore rakazara 2021 mari yaizodzikira, tichipihwa simba rekutanga kwedenda remari muQ1'20. Naizvozvo, tarisiro yedu iri pakugadzira mauto epasi rese ekutengesa, kugadzira yedu yekuzadzikisa mhando yekuvandudza kuwanikwa kwechigadzirwa uye basa revatengi, uye kudzikisa mutengo wemari imwe neimwe. kuedza kwedu pakukura kwemari kuti titarise zviwanikwa zvedu zvakakosha, kubvumira vatengi kuona kukosha uye kuvandudza zvakanyanya mihoro uye kubuda kwemari mahara. Tichitarisa kumashure, kubva pakukura kwakasimba kwemari kusvika kune gross margins, rekodhi inventory turns, rekodha yekushanda capital turns, takapfuura tarisiro yedu mumaakaundi ese uye isu tinotarisira kuti 2022 ave Kupinda mugore rechishanu rinotevedzana rekutsvaga munhoroondo yekukura kwemari, isu tinozvidadisa kwazvo makore ekukura kwemari. muna 2021 uye isu tinopinda muna 2022.Ndinodada kuti tine zero chikwereti uye yakakwana yakazara liquidity inopa hunyanzvi hwekuchinja mari yekusimudzira organic uye kubata inorganic mikana.Ndinotenda kuti hatizosangana nekumanikidzwa kwemari nekuda kwechikwereti chebasa remubereko.Ndiri kufara nekushandurwa kwemuenzaniso wedu wekushandisa uye maitiro edu hypercenter uye hurongwa hwekuita kwedunhu hucharamba huchitipa mukana wekuita mari.
Ndiri kufara nekugona kwesangano redu uye kuti tiri kubatsira sei kugadzirisa matambudziko ezvekutengesa zvinhu uye zvipingamupinyi zviri kuitika nevatengi vedu.Ndiri kufara nekugona kwedu kuwana zvigadzirwa kana dzimwe nzira.Ndinofara zvikuru nemanzwisisire anoita vashandi vedu nevatengi vedu kukosha kwatinopa uye zviri kuratidza pamusoro peiyo mitsetse. Ndinodada nehutungamiriri hwedu, zvirongwa zvekudzidzisa nebudiriro, nemikana yevashandi vedu kuti vakwenenzvera hunyanzvi hwavo. Ndinodada nekudyidzana kwedu nemakambani akakosha, uye tiri kutsvaga matekinoroji epamusoro kubva kunyanzvi kuti abatanidze mubhizinesi redu. Ndinodada kuti tine chikwata chekutengesa chakanakisa uye vanonyanya kukoshesa mukushanda kwevatengi, vasinganeti nevashandi. mabhonasi uye kuita DNOW nzvimbo yakanaka yekushanda uye kubudirira.
Pakupedzisira, kunze kwezvinhu zvose, zvikomborero uye kubudirira, tine simba rinoshamisa paDNOW.Ndinoda kuti vashandi vedu nemhuri dzavo vazive kuti tiri kutama kubva pakudzivirira, kudzivirira uye kuzeza kune proactive, kukunda, kuzvikudza uye kufara.Tiri kuvaka nokuda kweramangwana redu.Ndinoda kufunga kunyanya nezveboka redu rekutengesa uye vanhu vedu mumunda uye avo vose vatengi vedu vanoita zuva rega rega kuti varambe vachifara pamberi peDNOW kureba. sarudzo yekutanga yevatengi vedu vachitsvaga mhinduro uye ruzivo rwekubatana Izvi zvichatibatsira kuti tirambe tichikunda pamusika.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 neiyo yakakosha chigadzirwa mutsara.Tinogona kunge takave neimwe yakabudirira zvikuru mitsetse yakakura yechigadzirwa maererano nekukura kwemariji, kunyangwe mutengo wedu wakafara kwazvo kunze kwepombi.Pipe ndiyo pombi yatichiri kuchengetedza mutengo wepombi isina musono, pombi isina musono ndiyo huru pombi zvinhu zvatinotengesa, uye pombi yesimbi inogona kuwedzera ruzivo mushure mehafu yekutanga yegore. Saizvozvo tinogona 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 pakati pegore.Asi nemapombi kunyanya, handizivi kana zviri izvo, uye kune mitsetse yakawanda yechigadzirwa yatinotsigira, nguva dzekutungamira dzichiri dzakareba.Saka ndinofunga kuti takatungamira 2022 gross margin kusvika padanho repamusoro, iro rakanyanya kufanana nerekodha ye202 inoteedzana. inyaya yenguva yekugamuchira.Inoenderana nekusimba kwemusika wedu uye kana inflection point ikaitika.Ndinoreva, ndakataura kare nezvekutanga kunononoka kusvika munaJanuary, uye ndinofunga kuti zvinhu zvichange zvichinyanya kupisa pano, izvo zvinoreva kuti nyaya dzakawanda dzekushaikwa muhafu yekutanga, zvichida kusvika 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, isu tatodzika munzira iyi, 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, kuita shuwa kuti tiri kuisa pfungwa pazvinhu zvedu, tichitarisa pane zvatinowana mari shoma pane zvatinokwanisa kuita kuti tiwane mari shoma pane zvatinowana. vagovani, kuitira kuti tigadzirire ramangwana uye tirambe tichikura kambani.Saka ndinongofunga kuti ichokwadi chinoenderera mberi chebhizinesi kuti zvisinei nekuti uri muindasitiri ipi, unogara uchingoda kuisa fetereza nesora uye kudyara zvakare uye kugara uchiisa bhizinesi munzvimbo yakanaka kwazvo muindasitiri.
Panyaya yekuchinja kukuru kwemaitiro, ndinofunga kuti tapedza. Ndinofunga kuti tabuda mumaitiro ekudzikisa mutengo. Tiri mune yandinodaidza kuti kuzadzikiswa kwekutama kwechikamu uko tinoda kuisa chikamu chikuru chekuzadzika kwedu kunzvimbo dzakakura dzemikana, sekumira munzvimbo dzakaita saWilliston, Houston, Odessa, uye Casper. ibhizinesi rekufamba-famba, bhizinesi rezuva nezuva, mapurojekiti makuru, fungidziro.Tinoda kuiisa munzvimbo.Tinoda tarenda repamusoro kuti titarise cheni idzi dzekugovera, tinoda mamwe akasiyana-siyana emanodhi kana nzvimbo dzekutumira kana nzvimbo diki dzemuno 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 ndichinetseka kana iwe unogona kuvandudza huzivi hwedu hwepamusoro-soro pano, ndinofunga iwe wakataura chikamu chekupedzisira kuti pamadhora ose emari iwe waitsvaga kuwedzera kweWSAs ye $ 0.03 kusvika ku $ 0.05. gore rose?Izvo 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 iyo madhora 0. tiri kuderedza.Panguva imwe chete, kunyanya mumwedzi mishomanana yapfuura, ndinofunga kuti kwave kwapfuura mazuva zana kubva patakataura kuvanhu, uye kune rumwe rutivi, takabatsirwa zvikuru.Ndinotenda kuti zvizhinji zvayo ndiyo nzira yedu yekusimudzira uye kuisa pfungwa pazvinhu zvakanaka kuti tiwedzere mitengo, iyo inobva pakukwira kwechigadzirwa, kushomeka kwechigadzirwa, kushayikwa kwechiitiko ichi, saka isu tine ruzivo rutsva. kukwezva kana kuchengetedza mutengo watiri kuona mugwara redu ra2022. Asi huzivi hwedu ndehwekudzikisa zvakanyanya WSA sechikamu chemari uye kuenderera mberi munzira yekuwedzera kugona.
Tinogona kudzikisira WSA sechikamu chemari inosvika mazana maviri emapoinzi kubva 2021 kusvika 2022. Sezvandambotaura munzvimbo dzinoverengeka, tiri muchimiro chekuvaka. Isu tiri mukukura mode. Isu tiri kuisa pamberi pekukura pane mutengo, asi isu - sezvandakataura mukupindura kumubvunzo wekupedzisira, isu takatarisana nekushandura modhi yedu, uye isu takatanga kufambira mberi pamutengo. $86 miriyoni.Hameno zvishoma kuenda kumberi nekuti tiri - kunyangwe tiine gwara pane izvozvo, ndinofunga kuti yakasimba mukutungamira kwedu kwese kwetraffic nemari nezvimwe zvakadaro.Asi isu tichatarisa pakuva nevanhu vepamusoro muindasitiri.Tinotarisa pakukunda makwikwi.Takatarisana nekukura. mari inozoderera
Dave, senge iwe wakatevera pamusoro peiyo supercenter comment ipapo.Iwe uri mumusika wekukura izvozvi, uye uri kuratidza kuti iwe uchawana kuwedzera uye kuwedzera pesvedzero muWSA lineup nekuti iwe uri kuisa mari ipapo.Saka ini ndiri kuda kuziva nezvehuzivi kana iwe uchibvumidza izvi zvekuisa mari, sezvawakangoshevedzera kune supercenter, ndeapi mamiriro aungada kuti uve neruvimbo 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 kunoshanduka kwepombi yeOdessa, TSNM Fiberglass uye Power Services. nzvimbo gumi dziri muPermian kuita shanu, muchikamu chimwe chePermian.Tinofunga, tichava nehuwandu hwekutsvaga kune vatengi vedu.Tichakwanisa kutarisira zvinhu kubva munzvimbo shoma, kubva kuvanhu vanoshandura zvakawanda, tichava nemari yakaderera padhora remari, tinenge tisina kugovera inventory risk, iyo yandinodaidza kuti exponential inventory inventory, iwe une ngozi shoma kune network inventory. kuderera uye iwe uchange uine bhizinesi rinoshanda.Saka tiri kukura muPermian, tiri kusimuka, tiri kukura muPermian, takangovaka supercenter, asi isu tiri kubatanidza, uye tiri kuzviita zvakachenjera.Uye tichakwanisa kutarisira zvirinani vatengi vedu uye kuva nehuwandu hwehuwandu nehuwandu hushoma hwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutsvaga kwekutengesa, uye kuderera kwekutengesa kwemusika.
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 ne2021.Saka ndiri kuda kuziva kuti iwe unoona sei kufambira mberi kwemahombekombe?Kubva pane tarisiro iyoyo, zvinoita kunge zvisingashamisi.Zvisinei, mutengo wako weHRC wakakura sei. uri kuita kudzima imwe yepombi bloat.Uyezve kana ichienderana 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 tiri kutarisira kusvika parunhare rwe 22% muna 2022, isu tangwarisa pamusoro pekutungamira pamiganho yakawandisa nekuti takabudirira zvakanyanya muzvikamu makumi maviri neshanu zveRC. pakati pegore, ndinofunga kuti pachava nekugadziriswa gare gare mugore mune zvakajairika, zvichida kunyange gare gare mugore nokuda kwepombi.Asi maererano nekuzvichengetedza munguva refu, ndinotenda kuti tinogona.Ndizvo zvandinoreva.Hatina kutaura nezvazvo mumashoko akagadzirirwa, uye hatina kutaura nezvazvo muQ & A.Asi chaizvoizvo, muna 2021, takabatanidza nzvimbo yechina muchikamu chechina. 2021. Nhasi, tine vashandi vanodarika 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 imwe purofiti. Saka takasiya mari inosvika madhora makumi matatu emamiriyoni emadhora mubhizinesi. zvinhu zvakaderera.Tinokwanisa kuunza kuyerera kuri nani kubva kumabasa munzvimbo yakaoma kuwana, tinofanira kutarisana nekukwira kwemitengo yebasa uye kugadzirisa inflation.
Saka ndinofunga, idambudziko - haisi misika chete iri kufambisa kuita kwedu kwakashata. Chokwadi, ndakashanda zvakanyanya pane izvi parunhare rwekupedzisira, uye miganho yezvigadzirwa zvedu yakavandudzwa gore negore mumakore mashanu apfuura. Panyaya yekuyerera kwegore, ndinofunga kuti tinofanira kungotarisa, ndinofunga kuti - kana zvimwe zvezvigadzirwa zvedu zvepamusoro-soro zvisingawanike, saka chokwadi, tichaona musanganiswa wezvinhu zvinoderedza purofiti.Asi takatungamira miganho yakasimba.
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 20%.Iye zvino, ndinoziva zvishoma uye zvega zvega, iwe wakataura kuti kune mutengi wepachivande, pane zvakaitika kune veruzhinji. Canadian nepasirese dzinofanirwa kunge dziri kumusoro muna 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 nekuwedzera 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 ndinofunga kuti zvinhu zvakawanda zvichange zvichizoitika. muUS, ichiteverwa neCanada, uyezve kuwedzera zvine mwero kukura kune dzimwe nyika.Asi kana iwe ukatarisa kune rig kuverenga uye kupedzwa uye zvimwe zvezvinhu zvatakanga takatarisa pazviri, bhajeti revatengi rakaderedzwa kubva kunhamba idzodzo kwezvikamu zvishoma ikozvino. bhizinesi nekucheka mitengo isingawedzere kukosha, tabuda pamadhora makumi matatu emamiriyoni emari. Saka izvo zvichatiisa muna 2022 Yakawana mari inosvika 2% kana 3% yakakwira, asi isu hatibatsiri kubva pazasi.Saka ndinofunga kuti imhando yakanaka zvichienderana nekuti makore anofamba sei, saka ndinofunga tichaomerera kune izvozvo.Handifunge 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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