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 (NYSE: MRC), a top distributor of pipe, valves, and fittings, announced plans to amend and refinance its $295 million senior secured Term Loan B, maturing September 2024. The refinancing aims to extend the loan for five years and increase its amount to $300 million. Proceeds will refinance the existing loan and fund general corporate needs. Preliminary Q1 2023 financials show revenues at approximately $885 million, with a net income of $33 million and adjusted EBITDA around $69 million (7.8% of sales). Gross profit reached $179 million (20.2% of sales), indicating strong operational performance. The company forecasts 2023 cash flow from operations to exceed $120 million, enhancing confidence in its outlook. Full Q1 results will be released on May 8, 2023.
MRC Global Inc. (NYSE: MRC) is set to release its first quarter 2023 financial results on May 8, 2023, after market close. The company will host an earnings conference call and webcast on May 9, 2023, at 10:00 a.m. Eastern. Interested parties can access the call via phone or through the company's website. A replay will be available until May 23, 2023. MRC Global specializes in distributing pipe, valves, and fittings (PVF) across various sectors including energy and industrial. With over 100 years in the field, it operates 212 locations and offers 250,000 SKUs to approximately 10,000 customers.
MRC Global Inc. reported strong financial results for the fourth quarter and full year 2022, with a net income of $15 million, or $0.18 per diluted share, compared to a loss in Q4 2021. Full year net income reached $51 million, or $0.60 per diluted share, showing significant improvement over 2021's loss. Sales for 2022 totaled $3.36 billion, a 26% increase, driven by double-digit growth in all sectors. The fourth quarter saw $869 million in sales, up 27% year-over-year. Adjusted EBITDA was $66 million for Q4. The company also increased its 2023 guidance for cash flow from operations to exceed $120 million. MRC retains a positive outlook for continued growth.
MRC Global Inc. (NYSE: MRC) will announce its fourth quarter and full year 2022 results on February 13, 2023, post-market close. The earnings conference call and webcast are scheduled for February 14, 2023, at 10:00 a.m. Eastern. Investors can join the call by dialing 201-689-8261 or by accessing the webcast via MRC's investor relations website. A replay will be available until February 28, 2023. MRC Global is a leading distributor of pipe, valves, and fittings (PVF) to various sectors, boasting over 100 years of experience and a robust supply chain.
MRC Global, a top distributor of pipe, valves, fittings, and infrastructure products, will have its CFO, Kelly Youngblood, present at the Stephens Annual Investment Conference on November 15, 2022, at 9:00 AM ET. The live audio broadcast of the presentation can be accessed through the Investor Relations section on the company's website and will be archived for 90 days. With over 100 years of experience, MRC Global operates across various sectors, including gas utilities and industrial markets, with a wide range of products from thousands of suppliers.
MRC Global reported robust third-quarter 2022 results with a net income of $18 million, or $0.21 per diluted share, reversing a loss of $17 million from the prior year. Adjusted net income surged to $36 million, up from $8 million, while sales reached $904 million, a 32% year-over-year increase. Gross profit also improved, totaling $165 million or 18.3% of sales. Notable sector growth was led by gas utilities and DIET, with a backlog of $773 million. The company anticipates double-digit revenue growth and strong cash flow generation for 2023.
MRC Global Inc. (NYSE: MRC) has announced the appointment of Anne McEntee to its board of directors. McEntee, who previously held leadership positions at GE, particularly in renewable energy, is expected to bring significant insights and experience to the board. Robert Wood, chairman of the board, emphasized McEntee's role in enhancing board diversity and capabilities, while CEO Rob Saltiel noted her valuable knowledge will support the company's focus on energy transition as a growth strategy.
MRC Global Inc. (NYSE: MRC) is set to announce its third quarter 2022 financial results on November 8, 2022, after market hours. Following the release, a conference call will be held on November 9, 2022, at 10:00 a.m. Eastern, to discuss the results. Investors can participate via phone or through a webcast available on the company's website. A replay of the call will be accessible until November 23, 2022.
MRC Global is a leading distributor of PVF and other infrastructure products, serving various end-markets with over 100 years of experience.
MRC Global announced its second quarter 2022 results, reporting $8 million net income, equating to $0.09 per diluted share, an improvement from a net loss of ($2) million in Q2 2021. The company's sales reached $848 million, a 14% sequential increase and 24% year-over-year growth. Adjusted EBITDA stood at $65 million, representing a 7.7% margin, the highest since 2014. The backlog grew 12% sequentially and 43% since year-end 2021. Overall, all sectors showed double-digit growth, particularly in gas utilities and industrial sectors.
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