MRC Global Authorizes $125M Worth of Share Buyback Program

Group 1: Shareholder Rewards and Buyback Program - MRC Global Inc. has announced a share buyback authorization of up to $125 million, aligning with its commitment to reward shareholders [1][2] - The buyback program is set to begin in the second quarter and will remain valid until January 2, 2028 [3] - In the first nine months of 2024, MRC Global paid$18 million in dividends and repurchased $5 million in shares, compared to$24 million in dividends and $4 million in share buybacks in 2023 [4] Group 2: Financial Performance - MRC Global generated a free cash flow of$174 million in the first nine months of 2024, a significant increase from $82 million in the same period the previous year [5] - The company has a market capitalization of$1.1 billion and currently holds a Zacks Rank of 3 (Hold) [6] Group 3: Market Position and Challenges - MRC Global's diverse presence across various end markets, including upstream production and energy transition, allows it to capitalize on opportunities while mitigating risks [6] - The company is facing challenges in the Gas Utilities and Production & Transmission Infrastructure sectors due to customer destocking and decreased rig counts in the U.S. oil field [7] Group 4: Stock Performance - MRC's shares have increased by 4.1% over the past three months, while the industry has grown by 11.6% [9] - The Zacks Consensus Estimate for MRC's 2025 earnings has risen by 3.2% in the last 60 days, with a trailing four-quarter average earnings surprise of 60.5% [9]