HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that its board of directors has elected Deborah G. (Debbie) Adams as its new Board Chair, effective immediately. She succeeds Robert L. (Bob) Wood, previous Chairman of the Board, who has retired from the board for personal reasons.  Rob Saltiel, President & CEO and board member of MRC Global, stated, "We are excited to announce Debbie Adams as our new Board Chair. Debbie joined our board in 2017 and has been serving as c ...

HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today announced third quarter 2024 results. Net income attributable to common stockholders for the third quarter of 2024 was $23 million, or $0.27 per diluted share, and was $29 million, or $0.33 per diluted share for the third quarter of 2023. Adjusted net income attributable to common stockholders for the third quarter of 2024 was $19 million, or $0.22 per diluted share, as compared to the third quarter of 2023 result of $28 million, o ...

HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), announced today that it has secured a new $350 million Senior Secured Term Loan "B" ("Term Loan") maturing in 2031. The proceeds from this loan, and borrowings from the asset-based lending facility were used to repurchase all 363,000 shares of its 6.50% Series A Convertible Perpetual Preferred Stock for $361 million plus accrued dividends as part of an agreement with Mario Investments LLC, the holder of the preferred stock. Rob Saltiel, ...

The market expects MRC Global (MRC) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on November 5, 2024, might help the stock move higher if these key numbers ar ...

HOUSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), today announced that Moody's Ratings ("Moody's") upgraded the company's corporate family rating to 'B1' from 'B2' with a stable outlook. Also, in conjunction with the company's issuance of a new Term Loan B, Moody's upgraded the rating of the anticipated Term Loan B to a 'B2', a level higher than the company's previous term loan. Moody's based its ratings upgrade, in part, on the company's moderate leverage and ample interest coverage, ...

Agrees to Repurchase Preferred Stock Launches Term Loan B Financing to Fund Repurchase Pursues Amendment to ABL Facility to Extend Maturity Provides Preliminary Third Quarter 2024 Financial Results HOUSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that it has agreed to repurchase all 363,000 shares of its 6.50% Series A Convertible Perpetual Preferred Stock as part of an agreement with Mario Investments, LLC, the holder of the preferred stock, which is contingent upon, a ...

Company Overview - MRC Global Inc. is headquartered in Houston, Texas, and is the leading global distributor of pipe, valves, fittings (PVF), and other infrastructure products and services [2] - The company serves diversified end-markets including gas utilities, downstream, industrial and energy transition, and production and transmission infrastructure sectors [2] - MRC Global has over 100 years of experience and operates a worldwide network of 219 locations, including valve and engineering centers [2] - The company offers over 300,000 SKUs from more than 8,500 suppliers, simplifying the supply chain for approximately 10,000 customers [2] Upcoming Financial Events - MRC Global will release its third quarter 2024 results on November 5, 2024, after the market closes [1] - A conference call and webcast will be held on November 6, 2024, at 10:00 a.m. Eastern / 9:00 a.m. Central [1] - The call can be accessed via phone or webcast, with a replay available through November 20, 2024 [1]

A month has gone by since the last earnings report for MRC Global (MRC) . Shares have added about 0.1% 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 the most recent earnings report in order to get a better handle on the important drivers. MRC Global Q2 Earnings Top Estimates, Revenues Down Y/Y MRC ...

Core Viewpoint - MRC Global Inc. has underperformed in operational performance due to business weaknesses and high debt levels, leading to a negative outlook from investors [1][4]. Company Overview - MRC Global, based in Houston, TX, is a leading distributor of pipes, valves, fittings, and related products and services, serving various sectors of the oil and gas industry, including upstream, midstream, and downstream [2]. Factors Affecting MRC - **Business Weakness**: The company is experiencing challenges in the Gas Utilities and Production & Transmission Infrastructure (PTI) sectors, with customer destocking impacting the Gas Utilities sector and delays in project activity due to high interest rates and inflation [4]. - **Revenue Expectations**: MRC anticipates a mid-single-digit decline in third-quarter revenues, with a potential modest seasonal decline in the fourth quarter. Total revenues for the second half of 2024 are expected to decrease in low-single-digits compared to the first half [5]. - **Increasing Debt Level**: MRC's long-term debt rose to $152 million, significantly higher than the $9 million reported at the end of the fourth quarter of 2023, which may negatively impact profitability [6]. - **Forex and Economic Risks**: The company's global operations expose it to geopolitical risks, trade relations, and currency fluctuations. A tight monetary policy by the Federal Reserve and a slowdown in the manufacturing sector contribute to an uncertain outlook for MRC [6]. Industry Context - MRC Global operates within the Zacks Steel - Pipe and Tube industry, which is currently facing challenges due to economic conditions and industry-specific factors [6].

Did you analyze how MRC Global (MRC) fared in its international operations for the quarter ending June 2024? Given the widespread global presence of this energy products distributor, scrutinizing the trends in international revenues becomes imperative to assess its financial strength and future growth possibilities. In today's increasingly interconnected global economy, a company's ability to tap into international markets can be a pivotal factor in shaping its overall financial health and growth trajectory ...