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