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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.
Revenue by Segment
Revenue by Geographic Location
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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