HOUSTON, March 14, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced that it has entered into a joint venture with Frisbie Measurement Services, LLC (FMS) forming IMTEC Services, a provider of integrated smart meter technical services to the gas utilities sector. IMTEC Services is applying for its certification as a woman-owned business with the Women’s Business Enterprise National Council (WBENC). IMTEC Services is a centralized meter center that will integrate meter and electronic meter readi ...

Core Viewpoint - MRC Global Inc. is optimistic about its business outlook for 2025, driven by a rebound in the gas utilities sector, inflation returning to product pricing, and growth in U.S. natural gas infrastructure investment. The company anticipates revenue growth in all business sectors and plans to execute a $125 million share buyback authorization [4]. Full Year 2024 Financial Highlights - Total sales for 2024 were $3,011 million, a decrease from $3,266 million in 2023 [8][39]. - Net income from continuing operations for 2024 was $78 million, down from $115 million in 2023 [7][32]. - Adjusted EBITDA for 2024 was $202 million, representing 6.7% of sales [8][46]. - Average annual adjusted gross profit margins exceeded 21% for the third consecutive year, with adjusted gross profit at 21.9% of sales [8][42]. Fourth Quarter 2024 Financial Highlights - Sales for Q4 2024 were $664 million, a 10% decrease from $740 million in Q4 2023 [13][37]. - The net loss from continuing operations for Q4 2024 was ($1) million, compared to a net income of $22 million in Q4 2023 [7][32]. - Adjusted EBITDA for Q4 2024 was $32 million, down from $49 million in Q4 2023 [12][46]. - Gross profit for Q4 2024 was $135 million, or 20.3% of sales, compared to $149 million, or 20.1% of sales in Q4 2023 [9][41]. Sales by Segment - U.S. sales in Q4 2024 were $542 million, a decrease of $91 million, or 14%, from Q4 2023 [14][37]. - International sales in Q4 2024 were $122 million, an increase of $15 million, or 14%, from Q4 2023 [16][37]. - Gas Utilities sector sales were $253 million in Q4 2024, unchanged from Q4 2023 [18][37]. - DIET sector sales decreased by $46 million, or 18%, to $208 million in Q4 2024 [19][37]. - PTI sector sales decreased by $30 million, or 13%, to $203 million in Q4 2024 [20][37]. Balance Sheet and Cash Flow - As of December 31, 2024, the company's cash balance was $63 million, with long-term debt of $387 million and net debt of $324 million [21][30]. - Operating cash flows from continuing operations for the full year 2024 were $268 million, the highest since 2015 [8][34]. - The company achieved a net debt leverage ratio of 1.6x [8][21]. Management Commentary - The CEO expressed satisfaction with the execution of strategic actions that strengthened the balance sheet and improved working capital efficiency [4]. - The company is excited about the new IMTEC joint venture aimed at developing smart meters for gas utilities customers [4].

HOUSTON, March 14, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today reported full year and fourth quarter 2024 results. Full Year 2024 Financial Highlights: ● Operating cash flows from continuing operations of $268 million, highest since 2015 ● Sales of $3,011 million ● Net income from continuing operations of $78 million ● Adjusted EBITDA of $202 million, 6.7% of sales ● Gross profit, as a percentage of sales, of 20.6% ● Adjusted Gross Profit, as a percentage of sales, of 21.9% and the third con ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and ...

HOUSTON, March 12, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its financial results for the fourth quarter and full year 2024 on March 14, 2025, before the market opens. The company will also host its conference call to discuss these financial results. What: MRC Global Fourth Quarter and Full Year 2024 Earnings Conference Call and WebcastWhen: Friday, March 14, 2025, at 10:00 a.m. Eastern / 9:00 a.m. CentralHow:Via phone – Dial 201-689-8261 and ask for the MRC Global call prior to the ...

Company Updates - MRC Global Inc. plans to file its 2024 Form 10-K with the SEC on or before March 18, 2025, and will file a Form 12b-25 to notify of the late filing [1] - The company has completed all required physical inventory counts but needs additional time to finalize the analysis and incorporate results into financial statements [2] Financial Performance - MRC Global does not expect a material net inventory adjustment related to 2024 results or a restatement of prior periods based on work completed to date [2] Company Overview - MRC Global is a leading global distributor of pipe, valves, fittings (PVF), and other infrastructure products and services, serving diversified end-markets including gas utilities, downstream, industrial, and energy transition sectors [5] - The company has over 100 years of experience and operates a worldwide network of over 200 locations, offering over 300,000 SKUs from more than 8,500 suppliers [5]

Company Overview - MRC Global Inc. is a leading global distributor of pipe, valves, fittings (PVF), and other infrastructure products and services, serving diversified end-markets including gas utilities, downstream, industrial, energy transition, and production and transmission infrastructure sectors [5] - The company has over 100 years of experience and operates a worldwide network of over 200 locations, including valve and engineering centers [5] - MRC Global offers over 300,000 SKUs from more than 8,500 suppliers, simplifying the supply chain for approximately 10,000 customers [5] Financial Reporting - MRC Global expects to file its 2024 Form 10-K with the SEC on or before March 18, 2025, and will file a Form 12b-25 to allow for the extended filing date [1] - The company has delayed the release of its financial results to complete year-end procedures related to inventory counts, including physical inventory procedures [2] - All required physical inventory counts have been completed, and the company does not expect a material net inventory adjustment related to 2024 results or a restatement of prior periods [2]

Core Insights - The article emphasizes the importance of value investing, highlighting the identification of undervalued companies as a key strategy for investors [2][4][6] - MRC Global and Tenaris are presented as strong investment opportunities, both holding a Zacks Rank of 2 (Buy) and an A grade for Value [4][6][7] Company Analysis: MRC Global - MRC Global has a current P/E ratio of 12.16, which is lower than the industry average of 13.49, indicating potential undervaluation [4] - The Forward P/E for MRC has fluctuated between 9.93 and 16.37 over the past year, with a median of 12.24 [4] - MRC's P/CF ratio stands at 7.41, compared to the industry average of 9.33, suggesting a favorable cash flow outlook [5] - The P/CF for MRC has ranged from 6.43 to 9.29 in the last year, with a median of 7.74 [5] Company Analysis: Tenaris - Tenaris is trading at a forward earnings multiple of 11.91 and a PEG ratio of 0.28, both lower than the industry averages of 13.49 and 0.90, respectively [6] - Over the past year, Tenaris's P/E has varied from 7.61 to 12.59, with a median of 9.37 [6] - The P/B ratio for Tenaris is 1.31, slightly below the industry average of 1.41, indicating relative undervaluation [7] - Tenaris's P/B ratio has fluctuated between 0.95 and 1.38, with a median of 1.16 over the past year [7] Conclusion - Both MRC Global and Tenaris are highlighted as strong value stocks with favorable valuation metrics and solid earnings outlooks, making them attractive options for value investors [4][6][7]

Core Viewpoint - MRC Global (MRC) has experienced a downtrend, losing 15.3% over the past four weeks, but a hammer chart pattern suggests a potential trend reversal due to increased buying interest [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottom in the stock's price, suggesting that selling pressure may be exhausting [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that buyers are starting to emerge after a downtrend [3][4]. - This pattern can occur across various timeframes and is utilized by both short-term and long-term investors [4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for MRC, which is a bullish indicator suggesting potential price appreciation [6]. - The consensus EPS estimate for the current year has increased by 0.5% over the last 30 days, indicating analysts' agreement on improved earnings potential [7]. - MRC holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8].

HOUSTON, Feb. 05, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE:MRC) announced that it has postponed the release of its financial results and conference call related to the fourth quarter and full year 2024, which had previously been scheduled for February 11, 2025, and February 12, 2025, respectively. The company will reschedule both events at a later date. The company is delaying the release of its financial results to allow additional time to complete year-end audit procedures specifically related to in ...