Loading...
•
Mar 31, 2020
MRC Global Q1 2020 Earnings Report
MRC Global announced first quarter 2020 results with sales of $794 million and diluted earnings per share of $0.04.
Key Takeaways
MRC Global reported first quarter 2020 sales of $794 million, a 4% sequential increase. Diluted earnings per common share were $0.04, and net income attributable to common shareholders was $3 million. The company generated $37 million in cash from operations and reduced net debt by $26 million.
Sales of $794 million, a 4% sequential increase
Diluted earnings per common share of $0.04
Net income attributable to common shareholders of $3 million
Adjusted EBITDA of $34 million
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Company expects to generate over $200 million in cash flow from operations in 2020, with free cash flow of approximately $160 million.
Positive Outlook
- Counter cyclical cash flow business model
- Available liquidity
- Focus on long-term strategy to enhance shareholder value
- Expected cash flow from operations of over $200 million in 2020
- Free cash flow would be approximately $160 million
Challenges Ahead
- Customer spending has slowed considerably in April
- Unfavorable commodity price environment
- Significant decline in oil and gas global demand brought about by the COVID-19 pandemic
- Taking steps to further reduce our operating costs by $80 million
- Reduce inventory by $140 million or more compared to 2019
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...