MRC Stock Recent News

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.

Agrees to Repurchase Preferred Stock Launches Term Loan B Financing to Fund Repurchase Pursues Amendment to ABL Facility to Extend Maturity Provides 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 things, the completion of a successful term loan financing. Upon satisfaction of the required conditions in the repurchase agreement, the company will repurchase the preferred stock for a total payment of approximately $361 million, representing 99.5% of the liquidation preference of the preferred stock.

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.

Softness in the Gas Utilities and PTI sectors weigh on MRC Global (MRC). Unfavorable foreign currency movement is an added concern.

Review MRC's (MRC) international revenue performance and how it affects the predictions of financial analysts on Wall Street and the future prospects for the stock.

MRC Global's (MRC) second-quarter 2024 revenues decrease 4.5% year over year due to the lower volume of sales in the Gas Utilities and PTI sectors.

MRC Global, Inc. (NYSE:MRC ) Q2 2024 Earnings Conference Call August 7, 2024 10:00 AM ET Company Participants Monica Broughton - VP, IR & Treasury Rob Saltiel - President & CEO Kelly Youngblood - EVP & CFO Conference Call Participants Nathan Jones - Stifel Ken Newman - KeyBanc Capital Markets Sean Mitchell - Daniel Energy Partners Chris Dankert - Loop Capital Markets Operator Greetings, and welcome to MRC Global's Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

MRC Global (MRC) came out with quarterly earnings of $0.31 per share, beating the Zacks Consensus Estimate of $0.24 per share. This compares to earnings of $0.25 per share a year ago.

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.

MRC Global (MRC) benefits from its solid momentum in the DIET sector. However, weakness in Gas Utilities and PTI sectors remains concerning.