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Mar 31, 2023
MRC Global Q1 2023 Earnings Report
MRC Global's first quarter performance in 2023 was marked by revenue growth and strong profitability.
Key Takeaways
MRC Global reported strong first quarter 2023 results, with sales of $885 million, a 19% increase compared to the same quarter last year. The company's adjusted gross profit margin was 21.2%, and adjusted EBITDA was $69 million. They are optimistic about the remainder of 2023, expecting double-digit revenue growth and EBITDA margins exceeding 8%.
Sales reached $885 million, a 19% increase year-over-year.
Adjusted gross profit margin was 21.2%, a 70 basis point increase year-over-year.
Adjusted EBITDA was $69 million, representing 7.8% of sales.
Backlog increased 2% sequentially and 14% compared to March of last year.
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 anticipates double-digit revenue growth, EBITDA margins exceeding 8%, and operating cash flow of at least $120 million for 2023.
Positive Outlook
- Confident in ability to deliver double-digit revenue growth.
- Expecting EBITDA margins exceeding 8%.
- Anticipating operating cash flow of at least $120 million.
- Strong start to the year.
- Growing backlog.
Revenue & Expenses
Visualization of income flow from segment revenue to net income