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Jun 30, 2023
MRC Global Q2 2023 Earnings Report
Announced second quarter 2023 results, with revenue growth, strong adjusted gross profit margins, and expanded revenue backlog.
Key Takeaways
MRC Global reported a 3% increase in sales to $871 million compared to the same quarter last year. Net income attributable to common stockholders was $18 million, or $0.21 per diluted share. The company anticipates full-year revenues to increase in the upper single-digit percentage range compared to 2022 levels.
Sales of $871 million, a 3% improvement compared to the same quarter a year ago.
Adjusted Gross Profit, as a percentage of sales, of 21.5%, an increase of 30 basis points compared to the first quarter of 2023
Adjusted EBITDA of $63 million, or 7.2% of sales and our 5th consecutive quarter above 7%
Expanded revenue backlog in the quarter, aided by gains in International segment and DIET sector.
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.comDIET Revenue
CapyFin.comPTI Revenue
CapyFin.com Forward Guidance
The company expects full-year revenues to increase in the upper single-digit percentage range compared to 2022 levels.
Revenue & Expenses
Visualization of income flow from segment revenue to net income