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Mar 31, 2022
MRC Global Q1 2022 Earnings Report
MRC Global's financial performance improved in Q1 2022 with increased sales and adjusted EBITDA, leading to raised full-year guidance.
Key Takeaways
MRC Global reported a strong first quarter in 2022, with sales up 22% year-over-year to $742 million and adjusted EBITDA doubling to $48 million. The company's backlog grew by 28% to $667 million, prompting an increase in the full-year 2022 outlook to $3.1 billion in sales and $200 million in adjusted EBITDA.
Sales increased by 22% year-over-year to $742 million.
Adjusted EBITDA doubled compared to Q1 2021, reaching $48 million.
Backlog grew by 28% to $667 million as of March 31, 2022.
Full-year 2022 outlook raised to $3.1 billion in sales and $200 million in adjusted EBITDA.
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
MRC Global raised its 2022 outlook to $3.1 billion in sales and $200 million of adjusted EBITDA.
Positive Outlook
- Revenue expected to be up double-digit percentages in all four business sectors.
- Strong first quarter results.
- Favorable business fundamentals.
- Growing backlog in all sectors and geographic segments.
- U.S. backlog is up 32% with all sectors up double-digits including a 44% increase in the DIET sector.