MRC Global Q3 2021 Earnings Report
Key Takeaways
MRC Global's sales were $685 million, consistent with the previous quarter and 17% higher than the same quarter last year. The company reported a net loss of ($17) million, or ($0.21) per diluted share. Adjusted EBITDA reached $39 million, or 5.7% of sales, the highest in two years.
Sales of $685 million for the third quarter of 2021, which was consistent with the second quarter of 2021 but 17% higher than the third quarter of 2020.
Net loss attributable to common stockholders for the third quarter of 2021 was ($17) million, or ($0.21) per diluted share, as compared to the third quarter of 2020 net loss of ($3) million, or ($0.04) per diluted share.
U.S. business grew 2% sequentially while International segment experienced revenue declines due to delayed MRO and project activity.
Adjusted EBITDA margins of 5.7%, the highest for our company in two years.
MRC Global
MRC Global
MRC Global Revenue by Segment
MRC Global Revenue by Geographic Location
Forward Guidance
The company expects double-digit revenue growth next year.
Positive Outlook
- Growing backlog
- Increased customer activity
Revenue & Expenses
Visualization of income flow from segment revenue to net income