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Jun 30, 2022
MRC Global Q2 2022 Earnings Report
Reported strong second quarter results driven by growth in all end-market sectors and improved adjusted EBITDA margin.
Key Takeaways
MRC Global Inc. announced strong second quarter 2022 results with sales of $848 million, a 24% improvement over the same quarter a year ago. Adjusted EBITDA of $65 million, representing 7.7% of sales, was the highest quarterly adjusted EBITDA margin since 2014.
Sales reached $848 million, a 14% sequential increase and a 24% improvement year-over-year.
Adjusted EBITDA was $65 million, representing 7.7% of sales, the highest quarterly adjusted EBITDA margin since 2014.
Adjusted Gross Profit, as a percentage of sales, was 21.3%, an increase of 80 basis points compared to the first quarter of 2022.
Backlog increased 12% compared to the first quarter of 2022 and up 43% compared to year end 2021.
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
The company's targets for the full year remain at $3.3 billion of revenue and $230 million of adjusted EBITDA, supported by strong business fundamentals and our growing backlog, which increased 12% sequentially.