HOUSTON, April 22, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE:MRC) will release its first quarter 2025 results on May 6, 2025, after the market closes. In conjunction with the release, the company will host a conference call and webcast:  What:MRC Global First Quarter 2025 Earnings Conference Call and Webcast    When:Wednesday, May 7, 2025, at 10:00 a.m. Eastern / 9:00 a.m. Central    How:Via phone – Dial 201-689-8261 and ask for the MRC Global call prior to the start time, or  Via webcast – Visit our w ...

HOUSTON, April 22, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its first quarter 2025 results on May 6, 2025, after the market closes. In conjunction with the release, the company will host a conference call and webcast: What:MRC Global First Quarter 2025 Earnings Conference Call and Webcast When:Wednesday, May 7, 2025, at 10:00 a.m. Eastern / 9:00 a.m. Central How:Via phone – Dial 201-689-8261 and ask for the MRC Global call prior to the start time, or Via webcast – Visit our ...

HOUSTON, April 16, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE:MRC) today announced selected preliminary first quarter 2025 results from continuing operations. Preliminary First Quarter 2025 Financial Highlights: Revenue of approximately $710 million, a 7% sequential increaseNet income from continuing operations of approximately $7 millionAdjusted EBITDA of approximately $35 million, or 4.9% of salesGross Profit of approximately $142 million, or 20.0% of salesAdjusted Gross Profit of approximately $153 m ...

HOUSTON, April 16, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today announced selected preliminary first quarter 2025 results from continuing operations. Preliminary First Quarter 2025 Financial Highlights: Revenue of approximately $710 million, a 7% sequential increaseNet income from continuing operations of approximately $7 millionAdjusted EBITDA of approximately $35 million, or 4.9% of salesGross Profit of approximately $142 million, or 20.0% of salesAdjusted Gross Profit of approximately $153 ...

MRC Global (MRC) closed the last trading session at $11.62, gaining 3.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $16.25 indicates a 39.9% upside potential.The mean estimate comprises four short-term price targets with a standard deviation of $0.96. While the lowest estimate of $15 indicates a 29.1% increase from the current price level, the most optimistic analyst expects t ...

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MRC Global Inc. (MRC) reported fourth-quarter 2024 adjusted loss of eight cents per share against the Zacks Consensus Estimate of earnings of eight cents per share. In the year-ago-quarter, it reported earnings of 23 cents per share.Total revenues of $664 million missed the consensus estimate of $695 million. The top line decreased 10.3% year over year due to the lower volume of sales in the Downstream, Industrial and Energy Transition (DIET) and Production & Transmission Infrastructure (PTI) sectors.Stay u ...

Financial Performance - Full year 2024 sales reached $3,011 million, with operating cash flow from continuing operations of $268 million, the highest since 2015[7] - Fourth quarter 2024 sales were $664 million, a decrease of 10% compared to the fourth quarter of 2023, driven by declines in the Downstream, Industrial and Energy Transition (DIET) and Production & Transmission Infrastructure (PTI) sectors[13] - Net income from continuing operations for full year 2024 was $78 million, or $0.57 per diluted share, compared to $115 million, or $1.06 per diluted share in 2023[8] - Adjusted EBITDA for the fourth quarter of 2024 was $32 million, representing 4.8% of sales, down from $49 million in the same period of 2023[12] - The company expects revenue growth in 2025 to be in the low to high-single digits and anticipates generating at least $100 million in cash from operations[4] - Net loss attributable to common stockholders for Q4 2024 was $34 million, compared to a net income of $15 million in Q4 2023[34] - The company reported a basic loss per common share of $0.40 for Q4 2024, compared to earnings of $0.18 per share in Q4 2023[34] - Adjusted net income from continuing operations for Q4 2024 was $4 million, down from $27 million in Q4 2023[57] - The adjusted net income attributable to common stockholders for the year ended December 31, 2024, was $57 million, or $0.66 per share, compared to $98 million, or $1.15 per share for the year ended December 31, 2023[62] Sales and Revenue Breakdown - The Gas Utilities sector sales in the fourth quarter of 2024 were $253 million, unchanged from the same quarter in 2023, accounting for 38% of total sales[18] - The DIET sector sales decreased by $46 million, or 18%, in the fourth quarter of 2024 compared to the same period in 2023[19] - Sales from the Gas Utilities segment for the year ended December 31, 2024, were $1,098 million, down from $1,193 million in 2023[40] - Total sales for Q4 2024 were $664 million, a decrease of 10.3% from $740 million in Q4 2023[34] Profitability Metrics - The company achieved an average annual Adjusted Gross Profit margin exceeding 21% for the third consecutive year, with an Adjusted Gross Profit margin of 21.9% for the full year 2024[4] - Gross profit for Q4 2024 was $135 million, down 9.4% from $149 million in Q4 2023[34] - Reported gross profit for Q4 2024 was $135 million, representing 20.3% of revenue, compared to $149 million and 20.1% in Q4 2023[44] - Adjusted gross profit for Q4 2024 was $146 million, or 22.0% of revenue, down from $164 million and 22.2% in Q4 2023[44] - For the year ended December 31, 2024, reported gross profit was $620 million, 20.6% of revenue, compared to $670 million and 20.5% in 2023[44] - Adjusted EBITDA for Q4 2024 was $32 million, down from $49 million in Q4 2023, while for the year it was $202 million compared to $251 million in 2023[52] Debt and Cash Position - Net Debt as of December 31, 2024, was $324 million, with a net debt leverage ratio of 1.6x[7] - Long-term debt increased to $384 million in 2024, compared to $9 million in 2023[32] - Cash at the end of 2024 was $63 million, a decrease from $131 million at the end of 2023[36] - The total long-term debt as of December 31, 2024, was $384 million, with a net debt of $324 million after accounting for $63 million in cash[66] Operational Costs - Selling, general and administrative expenses for Q4 2024 were $123 million, slightly up from $121 million in Q4 2023[47] - Adjusted selling, general and administrative expenses for Q4 2024 were $119 million, compared to $120 million in Q4 2023[47] - The company incurred $1 million in transaction costs in Q4 2024, compared to no transaction costs in Q4 2023[52] - The company reported a decrease in LIFO reserve of $2 million for the year ended December 31, 2024, compared to an increase of $2 million in 2023[44] Future Outlook and Strategic Initiatives - MRC Global announced a new joint venture, IMTEC, aimed at developing smart meters for gas utilities customers[4] - The company plans to continue focusing on restructuring efforts and managing costs to improve future financial performance[64]

MRC Global (MRC) Q4 2024 Earnings Call March 14, 2025 05:40 PM ET Company Participants Monica Broughton - Investor RelationsRobert Saltiel - President & CEOKelly Youngblood - EVP and CFONathan Jones - Managing DirectorChristopher Dankert - Senior VP - Equity ResearchJosh Jayne - Managing Director Operator Greetings and welcome to MRC Global's Fourth Quarter twenty twenty four Earnings Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the for ...

Operations and Distribution - The company operates a global distribution network with a presence in major oil and natural gas regions, segmented into U.S. and International operations [28]. - The company sources products from over 7,100 suppliers across 46 countries, with purchases from the 25 largest suppliers accounting for approximately 46% of total purchases in 2024 [39]. - The company has a customer base of over 8,300, with no single customer representing more than 10% of revenue, indicating a diversified customer portfolio [48]. - The company’s distribution capabilities allow it to serve new customers in various industries, including metals and mining, power generation, and carbon capture [62]. Safety and Compliance - In 2024, the company's Total Recordable Incident Rate (TRIR) was 0.82, significantly lower than the 2023 U.S. Bureau of Labor Statistics average of 3.0 for wholesalers of metal products [30]. - The company maintains a strong focus on safety, with safety programs designed to mitigate risks and improve safety standards across operations [29]. - The company is subject to various environmental laws, but compliance costs have not been material to its financial position [66]. - The company is subject to various legal and liability risks, including product liability and environmental claims, which could result in substantial damages [129]. Financial Performance and Risks - As of December 31, 2024, the company's backlog decreased by $105 million, or 16%, to $558 million compared to $663 million in 2023, primarily due to lower project activity in the U.S. segment [49]. - The company's 25 largest customers represented approximately 60% of sales for the year ended December 31, 2024, highlighting a significant customer concentration risk [96]. - The company’s revenue is sensitive to capital expenditures in the industries it serves, particularly in the Gas Utilities and oil and gas sectors [70]. - The company may face supply cost increases due to unexpected demand, production difficulties, or increases in raw material costs, which could adversely affect profitability [76]. Human Resources and Development - The company employs over 2,600 team members, with approximately 73% located in the U.S. and 27% in the International segment [52]. - The company offers competitive compensation, with hourly team members in the U.S. earning at least $18 per hour starting from their first year of employment [53]. - The company has a robust Learning & Leadership Development program, providing training resources and development opportunities to enhance team member skills [54]. - The company may experience difficulties in attracting and retaining qualified personnel, which could hinder operational effectiveness and growth [97]. Technology and Systems - The company is investing approximately $50 million to modernize its ERP system in the U.S., with an expected full implementation by the end of 2025 [35]. - The company is currently upgrading its information systems, including implementing a new ERP system in the U.S. to enhance operational efficiency [101]. - The company has implemented measures to mitigate cybersecurity risks, but these may not guarantee protection against financial impacts from incidents [103]. Market Dynamics and Competition - The company expects to benefit from industry consolidation, as larger energy companies seek to reduce suppliers and focus on distributors with extensive offerings [48]. - The company may face challenges in maintaining competitive pricing and margins due to competitive actions and market dynamics [95]. - A transition to alternative forms of energy could reduce demand for oil and gas, adversely impacting sales and financial results [86]. Financial Position and Debt - As of December 31, 2024, the company had total debt outstanding of $387 million and excess availability of $460 million under its credit facilities [116]. - The company recorded $407 million of goodwill and other intangible assets on its consolidated balance sheet as of December 31, 2024 [111]. - Changes in the company's credit profile may lead suppliers to shorten payment terms, adversely affecting liquidity and payment capabilities [125]. Legal and Regulatory Risks - The company is currently facing approximately 1,060 asbestos-related lawsuits, which could have a material adverse effect due to uncertainties in potential liabilities and settlements [133]. - Compliance with U.S. and foreign anti-corruption laws is critical, as violations could lead to severe penalties and harm the company's reputation [134]. - Changes in laws and regulations in the countries where the company operates could significantly impact financial performance and operational capabilities [142].