MRC Global Inc ( (MRC) ) has released its Q2 earnings. Here is a breakdown of the information MRC Global Inc presented to its investors.
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MRC Global Inc., headquartered in Houston, Texas, is a leading global distributor of pipe, valves, fittings, and other infrastructure products and services, catering to diverse sectors such as gas utilities, downstream, industrial and energy transition, and production and transmission infrastructure. With over 100 years of experience, the company offers innovative supply chain solutions and technical product expertise from a worldwide network of approximately 200 locations.
In the second quarter of 2025, MRC Global reported a 12% increase in sales compared to the first quarter, reaching $798 million. The company achieved a gross profit margin of 18.9% and an adjusted EBITDA of $54 million. Notably, the company returned $15 million to shareholders through share repurchases. A significant highlight was the announcement of a merger agreement with DNOW Inc., which is expected to enhance MRC Global’s capabilities and scale.
Key financial metrics for the quarter included a net income of $13 million from continuing operations, a decrease from $30 million in the same quarter of 2024. Adjusted net income was $22 million, down from $33 million in the previous year. The company’s PTI sector led the sales growth with a 26% increase, driven by robust project activity, while the Gas Utilities sector saw a 10% rise due to increased construction projects.
The merger with DNOW Inc. is anticipated to be transformative, creating a premier energy and industrial solutions provider. This strategic move is expected to offer a broader portfolio of offerings to customers, enhance career opportunities for team members, and provide investors with exposure to a larger, more diverse enterprise.
Looking ahead, MRC Global expects continued revenue and adjusted EBITDA growth in the third quarter, driven by its DIET and Gas Utilities sectors. However, due to the pending merger, the company will not provide future financial guidance. The merger is expected to close in the fourth quarter of 2025, subject to shareholder and regulatory approvals.