MRC GLOBAL INC. - MRC STOCK NEWS

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.

MRC Global Inc. (NYSE: MRC) reported a strong financial performance in the first half of 2022, prompting an increase in its 2022 guidance. The company targets revenue of $3.3 billion, a 24% increase from 2021, and adjusted EBITDA of $230 million, a 58% rise. Preliminary results indicate approximately 14% growth in second quarter sales compared to the first quarter, driven by strong performance in Gas Utilities and the Downstream, Industrial, and Energy Transition sectors. The adjusted EBITDA margin for Q2 is expected to be around 7.5%, marking the best quarterly performance since 2018.