About MRC Global Inc. Headquartered in Houston, Texas, MRC Global (NYSE: MRC) is the leading global distributor of pipe, valves, fittings (PVF) and other infrastructure products and services to diversified end-markets including the gas utilities, downstream, industrial and energy transition, and production and transmission sectors. With over 100 years of experience, MRC Global has provided customers with innovative supply chain solutions, technical product expertise and a robust digital platform from a worl ...

It has been about a month since the last earnings report for MRC Global (MRC) . Shares have added about 0.2% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is MRC due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. MRC Global Q1 Earnings & Revenues Top Estimates, Dow ...

MRC Global Inc. (MRC) is benefiting from strength in the DIET sector despite the high cost of sales (due to raw material cost inflation) and operating expenses. What's Aiding MRC Business Strength: MRC Global's extensive presence across several end markets, including upstream production, midstream pipelines, gas utilities, downstream, industrial and energy transition, enables it to tap opportunities and neutralize operating risks associated with a single market. The company has been witnessing strength in t ...

HOUSTON, May 21, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, has published its 2024 Sustainability Report on www.mrcglobal.com. The 2024 Sustainability Report describes MRC Global's strategic efforts to: "We continue to demonstrate our commitment to operating a sustainable, ethical, and efficient business to the benefit of our customers ...

Core Insights - MRC Global Inc. has published its 2024 Sustainability Report, emphasizing its commitment to sustainable and ethical business practices [1][2] - The report highlights significant advancements in reducing environmental impact and improving supply chain operations [1] Company Overview - MRC Global is a leading global distributor of pipe, valves, fittings, and infrastructure products, serving diversified end-markets including gas utilities and energy transition sectors [3] - The company operates over 214 locations worldwide and offers more than 300,000 SKUs from over 8,500 suppliers [3] Sustainability Efforts - The company achieved a 28% reduction in Scope 1 and 2 emissions compared to 2022 [5] - MRC Global is actively involved in several global Energy Transition projects [5] - The company conducted its first baseline water risk assessment [5] - There was an 11.5% improvement in the total recordable incident rate over 2022, outperforming peer group averages [5] - MRC Global has advanced its supplier diversity efforts with a dedicated leader in place [5] - The company disclosed its alignment with the Global Reporting Index (GRI) and Sustainable Accounting Standards Board (SASB) [5]

HOUSTON, May 15, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE:MRC), (the "Company"), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, today announced the Company's issuer credit rating has been upgraded to "B" from "B–" by S&P Global Ratings ("S&P"). S&P based its ratings upgrade in part due to the Company's ability to address its upcoming Term Loan B maturity with cash on hand, expected stron ...

Have you looked into how MRC Global (MRC) performed internationally during the quarter ending March 2024? Considering the widespread global presence of this energy products distributor, examining the trends in international revenues is essential for assessing its financial resilience and prospects for growth.In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must und ...

Financial Data and Key Metrics Changes - The company generated $38 million in operating cash flow in Q1 2024, indicating a strong start to the year, with expectations to meet or exceed the full-year guidance of $200 million [5][31] - First quarter revenue was $806 million, a 5% sequential increase but a 9% decline compared to the same quarter last year [57][48] - Adjusted EBITDA for Q1 was $57 million, representing 7.1% of sales, an 80 basis point increase from the previous quarter [30][48] - The leverage ratio improved to 0.6x, the lowest in the company's history, with plans to repay the Term Loan B in the current quarter [63][67] Business Line Data and Key Metrics Changes - The PTI sector revenue for Q1 was $264 million, a 3% increase driven by valve and polyethylene pipe sales [27][57] - The DIET sector revenue increased by 7% to $276 million, supported by mining-related sales and refinery project activities [58][57] - Gas Utilities sales were $266 million, a 5% increase due to increased product sales for upcoming projects [57][15] Market Data and Key Metrics Changes - International revenues grew 7% year-over-year and 3% sequentially, with a backlog 38% higher than a year ago [16][28] - U.S. revenue was $667 million, a 5% increase, with all sectors showing improvement [59][57] - Canada revenue was $29 million, up 1 million, with increases in the DIET sector offsetting declines in the PTI sector [60] Company Strategy and Development Direction - The company is focused on enhancing customer service and revenue growth through initiatives like a digital quoting tool leveraging AI [17] - The North America ERP project is expected to improve business processes and operational efficiency [8] - The company aims to maintain a minimum 7% adjusted EBITDA margin while optimizing SG&A costs [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in the Gas Utilities sector, indicating that destocking efforts are stabilizing [9][68] - The company anticipates a transitional year in 2024, with expectations for increased spending in 2025 [26][20] - Management highlighted the potential for double-digit revenue growth in the international segment, particularly in the PTI and DIET sectors [28][85] Other Important Information - The company expects capital expenditures in the range of $40 million to $45 million for 2024, primarily due to ERP implementation [65][93] - The effective tax rate for 2024 is expected to be between 26% and 28% [34] Q&A Session Summary Question: Update on Gas Utilities recovery cycle - Management noted that while some customers are still destocking, the general trend is positive, indicating a return to normal purchasing patterns [68][69] Question: ERP implementation scope and CapEx - The total budget for the ERP project is approximately $50 million, with about 60% expected to be spent this year [93] Question: Guidance conservatism - Management stated that while the first quarter was strong, they are hesitant to change guidance based on one quarter's performance [82] Question: International segment performance - Management confirmed expectations for double-digit growth in the international segment, particularly in PTI and DIET [85][86] Question: Future cash generation expectations - Management confirmed that cash generation is typically stronger in the second half of the year, with Q1 performing better than expected [78][101]

MRC Global Inc. (MRC) reported first-quarter 2024 adjusted earnings of 20 cents per share, which beat the Zacks Consensus Estimate of 11 cents. However, the bottom line declined 37.5% year over year.Total revenues of $806 million surpassed the consensus estimate of $752 million. Yet, the top line decreased 8.9% year over year due to lower volume of sales in the Gas Utilities and Production & Transmission Infrastructure (PTI) sectors.Revenues by Product LineBased on MRC’s product line, revenues from carbon p ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______ Commission file number: 001-35479 MRC GLOBAL INC. (Exact name of registrant as ...