reports
MRC Global Announces First Quarter 2025 Earnings Release, Conference C...
MRC Global Announces First Quarter 2025 Earnings Release, Conference Call and Webcast Schedule HOUSTON, April 22, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its first quarter 2025 results on May 6, 2025, after the market closes. In conjunction with the release, the company will host a conference call and webcast: What:MRC Global First Quarter 2025 Earnings Conference Call and Webcast When:Wednesday, May 7, 2025, at 10:00 a.m. Eastern / 9:00 a.m. Central How:Via phone – Dial 201-689-8261 and ask for the MRC Global call prior to the start time, or Via webcast...
MRC Global Announces Preliminary First Quarter 2025 Results
MRC Global Announces Preliminary First Quarter 2025 Results HOUSTON, April 16, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today announced selected preliminary first quarter 2025 results from continuing operations. Preliminary First Quarter 2025 Financial Highlights: Revenue of approximately $710 million, a 7% sequential increaseNet income from continuing operations of approximately $7 millionAdjusted EBITDA of approximately $35 million, or 4.9% of salesGross Profit of approximately $142 million, or 20.0% of salesAdjusted Gross Profit of approximately $153 million, or 21.5% of ...
MRC Global Announces Joint Venture with Frisbie Measurement Services t...
MRC Global Announces Joint Venture with Frisbie Measurement Services to Provide Integrated Meter Technical Services HOUSTON, March 14, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced that it has entered into a joint venture with Frisbie Measurement Services, LLC (FMS) forming IMTEC Services, a provider of integrated smart meter technical services to the gas utilities sector. IMTEC Services is applying for its certification as a woman-owned business with the Women’s Business Enterprise National Council (WBENC). IMTEC Services is a centralized meter center that will integrat...
MRC Global Reports Full Year and Fourth Quarter 2024 Results
MRC Global Reports Full Year and Fourth Quarter 2024 Results HOUSTON, March 14, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today reported full year and fourth quarter 2024 results. Full Year 2024 Financial Highlights: ● Operating cash flows from continuing operations of $268 million, highest since 2015 ● Sales of $3,011 million ● Net income from continuing operations of $78 million ● Adjusted EBITDA of $202 million, 6.7% of sales ● Gross profit, as a percentage of sales, of 20.6% ● Adjusted Gross Profit, as a percentage of sales, of 21.9% and the third consecutiv...
MRC Global Announces Fourth Quarter and Full Year 2024 Earnings Releas...
MRC Global Announces Fourth Quarter and Full Year 2024 Earnings Release, Conference Call and Webcast Dates HOUSTON, March 12, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its financial results for the fourth quarter and full year 2024 on March 14, 2025, before the market opens. The company will also host its conference call to discuss these financial results. What: MRC Global Fourth Quarter and Full Year 2024 Earnings Conference Call and WebcastWhen: Friday, March 14, 2025, at 10:00 a.m. Eastern / 9:00 a.m. CentralHow:Via phone – Dial 201-689-8261 and as...
MRC Global Provides Update on Timing of Earnings Release and Filing of...
MRC Global Provides Update on Timing of Earnings Release and Filing of Form 10-K 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...
MRC Global Postpones Earnings Release, Conference Call and Webcast
MRC Global Postpones Earnings Release, Conference Call and Webcast HOUSTON, Feb. 05, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced that it has postponed the release of its financial results and conference call related to the fourth quarter and full year 2024, which had previously been scheduled for February 11, 2025, and February 12, 2025, respectively. The company will reschedule both events at a later date. The company is delaying the release of its financial results to allow additional time to complete year-end audit procedures specifically related to inventory cycle ...
MRC Global Announces $125 Million Share Repurchase Program
MRC Global Announces $125 Million Share Repurchase Program HOUSTON, Jan. 03, 2025 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that its Board of Directors authorized a new $125 million share repurchase program, which expires on January 2, 2028. Under the repurchase program, the Company may purchase its outstanding common shares through various means, including open market transactions, block purchases, privately negotiated transactions or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 and Rule 10b5-1 of the Securities Exchange Act...
MRC Global Announces Fourth Quarter and Full Year 2024 Earnings Releas...
MRC Global Announces Fourth Quarter and Full Year 2024 Earnings Release, Conference Call and Webcast Schedule HOUSTON, Dec. 17, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its fourth quarter and full year 2024 results on February 11, 2025, after the market closes. In conjunction with the release, the company will host a conference call and webcast: What:MRC Global Fourth Quarter and Full Year 2024 Earnings Conference Call and Webcast When:Wednesday, February 12, 2025, at 10:00 a.m. Eastern / 9:00 a.m. Central How:Via phone – Dial 201-689-8261 and ask for the MRC G...
MRC Global Announces Sale of Canada Business
MRC Global Announces Sale of Canada Business HOUSTON, Dec. 16, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), announced today that its subsidiary, MRC Global (Canada) ULC, has entered into a definitive agreement to sell its Canada operations to Emco Corporation. Rob Saltiel, MRC Global President & CEO stated, “This divestiture will reposition our strategic focus and future capital investment decisions on our core geographies and product offerings that provide the strongest growth and profit potential. The sale of our Canada business is expected to be accretive to our total company...
MRC Global Announces Closing of $750 Million Asset-Based Loan Facility
MRC Global Announces Closing of $750 Million Asset-Based Loan Facility HOUSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), announced today that it has amended its asset-based revolving loan facility (“ABL”), extending its maturity to November 2029. The amended ABL has a committed borrowing capacity of $750 million. The terms of the ABL are substantially the same as the previous facility with a borrowing rate of Term SOFR plus a margin ranging from 1.25% to 1.75%, based on the company’s fixed charge coverage ratio. Rob Saltiel, MRC Global President & CEO stated, “We a...
MRC Global Announces New Board Chair
MRC Global Announces New Board Chair HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that its board of directors has elected Deborah G. (Debbie) Adams as its new Board Chair, effective immediately. She succeeds Robert L. (Bob) Wood, previous Chairman of the Board, who has retired from the board for personal reasons. Rob Saltiel, President & CEO and board member of MRC Global, stated, "We are excited to announce Debbie Adams as our new Board Chair. Debbie joined our board in 2017 and has been serving as chair of the board’s Compensation & Human Capi...
MRC Global Announces Third Quarter 2024 Results
MRC Global Announces Third Quarter 2024 Results HOUSTON, Nov. 05, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) today announced third quarter 2024 results. Net income attributable to common stockholders for the third quarter of 2024 was $23 million, or $0.27 per diluted share, and was $29 million, or $0.33 per diluted share for the third quarter of 2023. Adjusted net income attributable to common stockholders for the third quarter of 2024 was $19 million, or $0.22 per diluted share, as compared to the third quarter of 2023 result of $28 million, or $0.32 per diluted share. MRC G...
MRC Global Simplifies Capital Structure by Securing New $350 Million T...
MRC Global Simplifies Capital Structure by Securing New $350 Million Term Loan B and Repurchasing Convertible Preferred Stock HOUSTON, Oct. 29, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), announced today that it has secured a new $350 million Senior Secured Term Loan “B” (“Term Loan”) maturing in 2031. The proceeds from this loan, and borrowings from the asset-based lending facility were used to repurchase all 363,000 shares of its 6.50% Series A Convertible Perpetual Preferred Stock for $361 million plus accrued dividends as part of an agreement with Mario Investments LLC, the...
MRC Global Announces Moody’s Upgrade in Credit Rating To ‘B1’ from ‘B2...
MRC Global Announces Moody’s Upgrade in Credit Rating To ‘B1’ from ‘B2’, Outlook Stable HOUSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), today announced that Moody’s Ratings (“Moody’s”) upgraded the company’s corporate family rating to ‘B1’ from ‘B2’ with a stable outlook. Also, in conjunction with the company’s issuance of a new Term Loan B, Moody’s upgraded the rating of the anticipated Term Loan B to a ‘B2’, a level higher than the company’s previous term loan. Moody’s based its ratings upgrade, in part, on the company's moderate leverage and ample interest cove...
MRC Global Announces Actions to Strengthen Its Capital Structure
MRC Global Announces Actions to Strengthen Its Capital Structure Agrees to Repurchase Preferred StockLaunches Term Loan B Financing to Fund RepurchasePursues Amendment to ABL Facility to Extend MaturityProvides Preliminary Third Quarter 2024 Financial Results HOUSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that it has agreed to repurchase all 363,000 shares of its 6.50% Series A Convertible Perpetual Preferred Stock as part of an agreement with Mario Investments, LLC, the holder of the preferred stock, which is contingent upon, among other thing...
MRC Global Announces Third Quarter 2024 Earnings Release, Conference C...
MRC Global Announces Third Quarter 2024 Earnings Release, Conference Call and Webcast Schedule HOUSTON, Sept. 17, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its third quarter 2024 results on November 5, 2024, after the market closes. In conjunction with the release, the company will host a conference call and webcast: What:MRC Global Third Quarter 2024 Earnings Conference Call and Webcast When:Wednesday, November 6, 2024, at 10:00 a.m. Eastern / 9:00 a.m. Central How:Via phone – Dial 201-689-8261 and ask for the MRC Global call prior to the start time, orVi...
MRC Global Announces Second Quarter 2024 Results
MRC Global Announces Second Quarter 2024 Results HOUSTON, Aug. 06, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC), the leading global distributor of pipe, valves, fittings and infrastructure products and services to diversified energy, industrial and gas utilities end-markets, today announced second quarter 2024 results. Net income attributable to common stockholders for the second quarter of 2024 was $24 million, or $0.28 per diluted share, as compared to the second quarter of 2023 net income attributable to common stockholders of $18 million, or $0.21 per diluted share. Adju...
MRC Global Announces Second Quarter 2024 Earnings Release, Conference ...
MRC Global Announces Second Quarter 2024 Earnings Release, Conference Call and Webcast Schedule HOUSTON, June 18, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) will release its second quarter 2024 results on August 6, 2024, after the market closes. In conjunction with the release, the company will host a conference call and webcast: What:MRC Global Second Quarter 2024 Earnings Conference Call and Webcast When:Wednesday, August 7, 2024, at 10:00 a.m. Eastern / 9:00 a.m. Central How:Via phone – Dial 201-689-8261 and ask for the MRC Global call prior to the start time, or Via webca...
MRC Global Selected as Primary Provider of Pipe, Valves, and Fittings ...
MRC Global Selected as Primary Provider of Pipe, Valves, and Fittings for ExxonMobil in North America HOUSTON, June 13, 2024 (GLOBE NEWSWIRE) -- MRC Global Inc. (NYSE: MRC) announced today that its subsidiary, MRC Global (US) Inc., has signed an agreement to be the primary provider of pipe, valves and fitting (PVF) products and services to ExxonMobil in North America. The agreement includes all of ExxonMobil’s North America upstream and downstream facilities for maintenance, repair and operations as well as project work. “We are very pleased that ExxonMobil has entrusted us with this imp...
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