MRC Global Provides Update on Timing of Earnings Release and Filing of Form 10-K
MRC Global (NYSE: MRC) has announced a delay in filing its 2024 Form 10-K, now expected to be submitted to the SEC by March 18, 2025. The company will file a Form 12b-25 for the extended filing period.
The delay is attributed to additional time needed to complete year-end procedures, specifically related to inventory counts and physical inventory procedures. While all required physical inventory counts have been completed, the company needs more time to finalize the analysis and incorporate results into financial statements.
Based on current progress, MRC Global does not anticipate any material net inventory adjustment for 2024 results or restatement of prior periods. The company will separately announce the timing of its fourth quarter and full year 2024 earnings release and conference call.
MRC Global (NYSE: MRC) ha annunciato un ritardo nella presentazione del suo Modulo 10-K per il 2024, ora previsto per essere inviato alla SEC entro il 18 marzo 2025. L'azienda presenterà un Modulo 12b-25 per il periodo di proroga della presentazione.
Il ritardo è attribuito al tempo aggiuntivo necessario per completare le procedure di fine anno, in particolare relative a conteggi di inventario e procedure di inventario fisico. Sebbene tutti i conteggi fisici richiesti siano stati completati, l'azienda ha bisogno di ulteriore tempo per finalizzare l'analisi e incorporare i risultati nei bilanci finanziari.
In base ai progressi attuali, MRC Global non prevede alcun aggiustamento netto materiale dell'inventario per i risultati del 2024 né una rettifica dei periodi precedenti. L'azienda annuncerà separatamente la tempistica della sua comunicazione dei risultati del quarto trimestre e dell'intero anno 2024 e della relativa conferenza telefonica.
MRC Global (NYSE: MRC) ha anunciado un retraso en la presentación de su Formulario 10-K para 2024, que ahora se espera que se presente a la SEC antes del 18 de marzo de 2025. La empresa presentará un Formulario 12b-25 para el período de presentación extendido.
El retraso se atribuye al tiempo adicional necesario para completar los procedimientos de fin de año, específicamente relacionados con los conteos de inventario y los procedimientos de inventario físico. Si bien se han completado todos los conteos físicos requeridos, la empresa necesita más tiempo para finalizar el análisis e incorporar los resultados en los estados financieros.
Con base en el progreso actual, MRC Global no anticipa ningún ajuste neto material del inventario para los resultados de 2024 ni una rectificación de períodos anteriores. La empresa anunciará por separado el momento de su comunicado de resultados del cuarto trimestre y del año completo 2024, así como la conferencia telefónica correspondiente.
MRC Global (NYSE: MRC)는 2024년 양식 10-K 제출이 지연되었다고 발표했으며, 이제 2025년 3월 18일까지 SEC에 제출될 것으로 예상하고 있습니다. 회사는 연장된 제출 기간을 위해 양식 12b-25를 제출할 것입니다.
지연은 재고 조사 및 물리적 재고 절차와 관련된 연말 절차를 완료하는 데 추가 시간이 필요하기 때문입니다. 모든 필수 물리적 재고 조사가 완료되었지만, 회사는 분석을 최종화하고 결과를 재무제표에 반영하는 데 더 많은 시간이 필요합니다.
현재 진행 상황에 따르면, MRC Global은 2024년 결과에 대한 실질적인 순 재고 조정이나 이전 기간의 재작성은 예상하지 않고 있습니다. 회사는 2024년 4분기 및 전체 연도 실적 발표 및 컨퍼런스 콜의 시기를 별도로 발표할 것입니다.
MRC Global (NYSE: MRC) a annoncé un retard dans le dépôt de son formulaire 10-K pour 2024, qui devrait désormais être soumis à la SEC d'ici le 18 mars 2025. L'entreprise soumettra un formulaire 12b-25 pour la période de dépôt prolongée.
Ce retard est attribué au temps supplémentaire nécessaire pour finaliser les procédures de fin d'année, notamment en ce qui concerne les comptages d'inventaire et les procédures d'inventaire physique. Bien que tous les comptages d'inventaire physique requis aient été réalisés, l'entreprise a besoin de plus de temps pour finaliser l'analyse et intégrer les résultats dans les états financiers.
Sur la base des progrès actuels, MRC Global ne prévoit aucun ajustement net matériel de l'inventaire pour les résultats de 2024 ni de retraitement des périodes précédentes. L'entreprise annoncera séparément le calendrier de la publication de ses résultats du quatrième trimestre et de l'année complète 2024, ainsi que de la conférence téléphonique qui l'accompagne.
MRC Global (NYSE: MRC) hat eine Verzögerung bei der Einreichung seines 10-K-Formulars für 2024 angekündigt, das nun voraussichtlich bis zum 18. März 2025 bei der SEC eingereicht wird. Das Unternehmen wird ein 12b-25-Formular für den verlängerten Einreichungszeitraum einreichen.
Die Verzögerung wird auf zusätzliche Zeit zurückgeführt, die benötigt wird, um die Jahresendverfahren abzuschließen, insbesondere im Zusammenhang mit Inventurzählungen und physischen Inventurverfahren. Obwohl alle erforderlichen physischen Inventurzählungen abgeschlossen sind, benötigt das Unternehmen mehr Zeit, um die Analyse abzuschließen und die Ergebnisse in die Finanzberichte zu integrieren.
Basierend auf dem aktuellen Fortschritt erwartet MRC Global keine wesentliche Nettobestandsanpassung für die Ergebnisse von 2024 oder eine Neufeststellung früherer Perioden. Das Unternehmen wird separat den Zeitpunkt seiner vierten Quartals- und Gesamtjahresergebnisse für 2024 sowie den entsprechenden Konferenzanruf bekannt geben.
- No material inventory adjustments expected for 2024
- No restatement of prior period financials anticipated
- Delay in filing Form 10-K and earnings release
- Additional time needed for inventory analysis and financial statement preparation
HOUSTON, March 03, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) expects to file its 2024 Form 10-K with the Securities and Exchange Commission on or before March 18, 2025. Today, the company will file a Form 12b-25 (Notification of Late Filing) to allow for the extended filing date. Additionally, MRC Global plans to issue a separate press release providing the timing and details of its fourth quarter and full year 2024 earnings release and conference call.
As previously announced, the company delayed the release of its financial results to allow additional time to complete year-end procedures specifically related to inventory counts, including physical inventory procedures. The company has now completed all required physical inventory counts but requires additional time to finalize the analysis and incorporate the results into the financial statements. Based on work completed to date, the company does not expect a material net inventory adjustment related to 2024 results or a restatement of prior periods.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act indicated by the word “expect” and similar expressions. These statements, including those about the company’s expected timing to file the Annual Report and announce 2024 results and the expectation of an immaterial inventory adjustment and the lack of a need to restate prior period financials are not guarantees of these expectations. These statements are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. These risks and uncertainties include (among others) successful review of the results of inventory counts, the resolution of any potential variances, the completion of accounting rollbacks from the date of the inventory count at each location to December 31, 2024, the date of the company’s financial statements, and the completion of audit procedures by the company and its auditors.
Undue reliance should not be placed on the company’s forward-looking statements. Although forward-looking statements reflect the company’s good faith beliefs, reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the company’s actual results, performance or achievements or future events to differ materially from anticipated future results, performance or achievements or future events expressed or implied by such forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent required by law.
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 infrastructure 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 worldwide network of over 200 locations including valve and engineering centers. The company’s unmatched quality assurance program offers over 300,000 SKUs from over 8,500 suppliers, simplifying the supply chain for approximately 10,000 customers. Find out more at www.mrcglobal.com.
Contact:
| Monica Broughton VP, Investor Relations & Treasury |
| MRC Global Inc. |
| Monica.Broughton@mrcglobal.com |
| 832-308-2847 |
FAQ
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