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) is a leading global distributor of pipe, valve, and fitting (PVF) products and services catered primarily to the energy and industrial sectors. Established as a vital player in the distribution landscape, MRC Global’s product offerings are critical in the construction, maintenance, and overhaul of equipment operating under extreme conditions.
The company's extensive product catalog includes pipes, valves, fittings, and tubular goods, all of which are essential for controlling the direction, velocity, and pressure of fluids and gases within transmission networks. These products are indispensable in regulating flow and providing on/off services across various industries.
MRC Global’s valve products are particularly significant in ensuring efficient flow management in complex industrial systems. The company's product line not only meets stringent industry standards but also excels in performance under harsh operating environments.
A key aspect of MRC Global’s business model is the provision of specialized services that complement their product offerings. These services are designed to enhance the overall customer experience and foster long-term client relationships.
In recent developments, MRC Global continues to strengthen its market position through strategic partnerships and new project undertakings. The company's financial health remains robust, with a keen focus on operational efficiency and cost management to sustain growth and profitability.
For the latest updates on MRC Global Inc., including financial reports, investor calls, and news, visit their official website or contact their Investor Relations department.
MRC Global Inc. announced the retirement of Chairman Rhys J. Best, effective after the company's annual stockholder meeting on May 5, 2022. Best has served on the board for 15 years, contributing significantly to MRC's IPO in 2012. The board has nominated Robert L. Wood as the new Chairman, contingent on his re-election. Wood has been a board member since 2015 and serves as the chairman of the compensation committee. The transition aims to leverage Wood's experience in the downstream industry to benefit MRC Global's future operations.
MRC Global Inc. (NYSE: MRC) will announce its fourth quarter and full-year 2021 results on February 15, 2022, after market close. A conference call will follow on February 16, 2022, at 10:00 a.m. Eastern/ 9:00 a.m. Central. The call can be accessed via phone at 201-689-8261 or through a webcast on the company’s website. A replay will be available until March 2, 2022. MRC Global, a leading distributor of pipe, valves, and fittings, operates over 220 locations globally.
MRC Global Inc. reported third-quarter 2021 sales of $685 million, consistent with Q2 2021 and 17% higher than Q3 2020. The net loss for common stockholders was ($17 million), compared to ($3 million) in Q3 2020. Adjusted EBITDA reached $39 million, marking the highest margin at 5.7% in two years. The U.S. business saw a 2% sequential growth, while international sales dropped 11% due to delayed activities. The gross profit was $95 million, or 13.9% of sales. The company anticipates double-digit growth next year based on backlog increases and customer activity.
MRC Global Inc. (NYSE: MRC) announced the appointment of George Damiris and Ronald Jadin as independent directors to its board. Damiris, with experience as CEO of HollyFrontier Corporation, brings insights into midstream and downstream operations, while Jadin, former CFO of W.W. Grainger Inc., offers expertise in finance and distribution. Their addition aims to enhance the board's capabilities and support MRC's growth. The company operates as a leading global distributor of pipe, valves, and fittings, serving various sectors.
MRC Global Inc. (NYSE: MRC) is set to announce its third quarter 2021 results on November 8, 2021, after market close. A conference call to discuss the earnings will take place on November 9, 2021, at 10:00 a.m. Eastern Time. Interested parties can join the call by phone or via webcast from MRC Global’s website. A replay will be available until November 23, 2021. MRC Global is a leading global distributor of pipe, valves, and fittings, serving various end-markets including gas utilities and green energy, with over 100 years of industry experience.
MRC Global Inc. reported Q2 2021 sales of $686 million, marking a 13% sequential increase and a 14% year-over-year rise. The net loss attributable to common stockholders was ($2 million), significantly improved from a net loss of ($287 million) in Q2 2020. Adjusted EBITDA reached $36 million, with cash flow from operations at $23 million. The company saw growth in the gas utilities sector, despite a 10% decline in midstream pipeline revenues. As of June 30, 2021, MRC's cash balance stood at $63 million, with long-term debt at $297 million.
MRC Global Inc. (NYSE: MRC) will release its second quarter 2021 earnings on July 29, 2021 after the market closes. A conference call will follow on July 30, 2021, at 10:00 a.m. Eastern to discuss the results. Investors can participate via phone or webcast.
MRC Global is the largest distributor of pipe, valves, and fittings to the energy sector, with over 230 service locations globally and a broad range of products and services for various industries.
MRC Global Inc. will present at the Stifel 2021 Virtual Cross Sector Insight Conference from June 8-10, 2021. The CEO, Rob Saltiel, is scheduled to present on June 9 at 10:40 a.m. ET. Investors can access the live webcast and replay through MRC Global's website. With a century of experience, MRC Global is the largest distributor of pipe, valves, and fittings in the energy sector, operating over 230 service locations worldwide and managing a network of over 200,000 SKUs.
MRC Global, the largest global distributor of pipe, valves, and fittings for the energy sector, reported a first-quarter sales increase of 5% sequentially to $609 million, though it remains 23% lower year-over-year. The company incurred a net loss of $9 million, or $0.11 per diluted share, compared to a net income of $3 million for the same quarter in 2020. Gas utilities saw a 4% sales rise due to market share gains, while upstream production sector sales dropped 51%. With a cash balance of $132 million and long-term debt of $382 million, MRC aims to strengthen its financial position.
MRC Global Inc. (NYSE: MRC) has appointed Rob Saltiel as the new president and CEO, effective March 15, 2021, succeeding Andrew Lane, who is retiring after over 12 years. Rhys Best, chairman of the board, expressed confidence in Saltiel’s ability to lead MRC Global's growth, citing his extensive experience in the energy sector. Saltiel emphasized the company's strengths, including its e-commerce platform and solid balance sheet. MRC Global, celebrating its 100th anniversary, is the largest distributor of pipe, valves, and fittings to the energy industry, with 230 service locations worldwide.
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