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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
MRC Global
MRC Global
MRC Global Revenue by Segment
MRC Global Revenue by Geographic Location
Revenue by Segment
U.S. Sales Revenue
CapyFin.comInternational Sales Revenue
CapyFin.comRevenue by Geographic Location
Gas Utilities Revenue
CapyFin.com 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