Core Viewpoint - MRC Global Inc. has entered into a deal to divest its Canada business to Emco Corporation, aiming to focus on core businesses and enhance capital allocation priorities [1][2]. Group 1: Transaction Details - The financial terms of the divestment have not been disclosed [1]. - The transaction is expected to close in the first half of 2025, pending necessary approvals [3]. Group 2: Strategic Implications - The divestment will allow MRC Global to concentrate on key regions and product offerings with the highest growth potential [2]. - MRC plans to use the cash proceeds from the transaction to reduce its debt, which is expected to positively impact adjusted gross margins and adjusted EBITDA margin [2]. Group 3: Market Performance - MRC Global's stock has increased by 21.5% over the past year, outperforming the industry growth of 17.2% [4]. - The company is currently ranked 3 (Hold) by Zacks, indicating a stable outlook [4]. Group 4: Sector Performance - MRC Global is benefiting from increased activities in the energy transition sector, particularly in Downstream, Industrial, and Energy Transition areas [4]. - However, the company faces challenges from weaknesses in the Gas Utilities and Production & Transmission Infrastructure sectors due to customer destocking and reduced rig counts in the U.S. oil field [5].

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 Global call prior to the start ...

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 Global call prior to the star ...

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 ...

MRC Global Inc. (MRC) has failed to impress investors with its recent operational performance due to weakness in the Gas Utilities and Production & Transmission Infrastructure (PTI) sectors. Also, foreign currency headwind is an added uncertainty.Houston, TX-based MRC Global is one of the leading distributors of pipes, valves and fittings, and related products and services. The company’s products are used across upstream, midstream and downstream sectors of the oil and gas industry. MRC currently carries a ...

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 sta ...

Have you assessed how the international operations of MRC Global (MRC) performed in the quarter ended September 2024? For this energy products distributor, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growt ...

MRC Global Inc. (NYSE:MRC) Q3 2024 Earnings Conference Call November 6, 2024 10:00 AM ET Company Participants Monica Broughton - VP, IR & Treasury Rob Saltiel - President & CEO Kelly Youngblood - EVP & CFO Conference Call Participants Tommy Moll - Stephens Inc. Adam Farley - Stifel Operator Greetings, and welcome to MRC Global's Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Oper ...

Table of Contents Title of each class Trading symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 MRC New York Stock Exchange UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 __________________________________________ FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANG ...

MRC Global Inc. (MRC) reported third-quarter 2024 adjusted earnings of 22 cents per share, which beat the Zacks Consensus Estimate of 18 cents. However, the bottom line declined 31.3% year over year.Total revenues of $797 million matched the consensus estimate. The top line decreased 10.3% year over year due to lower volume of sales in the Gas Utilities, Downstream, Industrial and Energy Transition (DIET) and Production & Transmission Infrastructure (PTI) sectors.Stay up-to-date with all quarterly releases: ...