Welcome to our dedicated page for Mrc Global news (Ticker: MRC), a resource for investors and traders seeking the latest updates and insights on Mrc Global stock.
MRC Global Inc (NYSE: MRC) serves as a critical supplier of pipe, valve, and fitting solutions to energy and industrial markets worldwide. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and strategic initiatives.
Access real-time press releases and analysis covering quarterly earnings, product innovations, supply chain updates, and market expansion efforts. Our curated collection helps stakeholders track MRC's position in critical infrastructure sectors while monitoring industry trends affecting PVF distribution.
Key content categories include financial results, executive leadership changes, major contracts, and operational updates. All materials maintain strict compliance with financial disclosure regulations, offering reliable information for informed decision-making.
Bookmark this page for streamlined access to MRC's latest corporate communications. Combine regular monitoring with our historical archive to identify long-term performance patterns and strategic direction in the energy infrastructure sector.
MRC Global Inc. (NYSE: MRC) announced its second quarter 2024 results, reporting net income of $24 million, or $0.28 per diluted share. This marks an improvement from $18 million, or $0.21 per diluted share, in Q2 2023. The company's sales reached $832 million, a 3% increase from Q1 2024. Notably, MRC Global achieved a record Adjusted Gross Profit margin of 22.1% and generated $63 million in operating cash flow for the quarter. The company's Net Debt leverage ratio reached a historic low of 0.4 times. Despite challenges in the US oilfield and project delays in the DIET sector, MRC Global demonstrated resilience with sequential growth in revenue, adjusted EBITDA, and cash flow from operations.
MRC Global (NYSE: MRC) will release its Q2 2024 earnings on August 6, 2024, after market close.
A conference call and webcast will follow on August 7, 2024, at 10:00 a.m. Eastern / 9:00 a.m. Central.
Stakeholders can join the call by dialing 201-689-8261 or via a webcast available on the company's website.
A replay will be accessible until August 21, 2024, by dialing 201-612-7415 with the passcode 13746014#, and the webcast archive will be available for 90 days.
MRC Global (NYSE: MRC) announced on June 13, 2024, that it has been selected as the primary provider of pipe, valves, and fittings (PVF) products and services for ExxonMobil in North America. The agreement encompasses both upstream and downstream facilities, covering maintenance, repair, operations, and project work. MRC Global has been a long-term partner of ExxonMobil for over 35 years. Rob Saltiel, MRC Global's President & CEO, expressed enthusiasm about the continued partnership. John Rudisill, ExxonMobil's Head of Procurement Global Upstream, highlighted MRC Global's product and service breadth, technical expertise, and extensive geographic coverage as key reasons for the selection.
MRC Global (NYSE: MRC) has released its 2024 Sustainability Report, highlighting strategic efforts in several key areas: advancing energy transition, minimizing greenhouse gases (GHG), reducing pollution, and maintaining a safe, diverse workplace. Key accomplishments include a 28% reduction in Scope 1 and 2 emissions compared to 2022, significant contributions to global Energy Transition projects, the company's first baseline water risk assessment, and an 11.5% improvement in the total recordable incident rate over 2022. MRC Global also disclosed its alignment with the Global Reporting Index (GRI) and Sustainable Accounting Standards Board (SASB).
MRC Global (NYSE: MRC) has announced an upgrade in its issuer credit rating from 'B-' to 'B' by S&P Global Ratings, with the outlook adjusted to 'Stable' from 'Developing'.
The upgrade is attributed to MRC Global's ability to address its Term Loan B maturity with cash on hand, expected strong operating cash flow, and reduced debt leverage, while maintaining availability on its asset-based lending facility.
Moody's also revised its outlook on MRC Global to 'Positive' from 'Stable', affirming a corporate family rating of B2 based on improved financial performance and credit profile.
CEO Rob Saltiel expressed satisfaction with the upgrades, highlighting the company's progress in strengthening its balance sheet and generating consistent cash flows.
MRC Global Inc. announced its first quarter 2024 results, revealing a net income of $13 million, a decrease from the previous year, with adjusted net income at $17 million. Gross profit was $163 million, with sales of $806 million showing a 5% improvement from the previous quarter. The company's commitment to capital returns and cash generation resulted in positive EBITDA margins and strong cash flow. While SG&A expenses increased, the company maintained a solid balance sheet and low debt levels.
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