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Dec 31, 2020
MRC Global Q4 2020 Earnings Report
Announced full year and fourth quarter 2020 results.
Key Takeaways
MRC Global's fourth quarter sales were $579 million, a 24% decrease compared to Q4 2019. The net loss attributable to common stockholders was ($11) million, or ($0.13) per diluted share.
Sales for the fourth quarter of 2020 were $579 million, 1% lower than the third quarter of 2020 and 24% lower than the fourth quarter of 2019.
Net loss attributable to common stockholders for the fourth quarter of 2020 was ($11) million, or ($0.13) per diluted share.
Adjusted EBITDA was $22 million in the fourth quarter of 2020 compared to $23 million for the same period in 2019.
Cash provided by operations was $83 million in the fourth quarter of 2020.
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 COVID-19 pandemic and related mitigation measures have created significant volatility and uncertainty in the oil and gas industry, resulting in lower spending by customers and reduced demand.
Positive Outlook
- MRC Global has remained operational with no closures to any facilities.
- Office staff has returned to the office in varying degrees depending on the stage of the pandemic at each locality.
- MRC Global has implemented various safety measures for employees working in the company’s facilities and implemented remote working for those whose jobs permit it.
- MRC Global is committed to a safe working environment for all employees and is constantly monitoring its response in the locations where the company operates.
- The company has fulfilled orders with little disruption from a supply chain perspective.
Challenges Ahead
- Oil demand has significantly deteriorated as a result of the pandemic.
- The unparalleled demand destruction has resulted in lower spending by our customers and reduced demand for the company’s products and services.
- Uncertainty exists as to when a more significant recovery will occur.
- As of February 2, 2021, the company had 10 active COVID-19 illnesses reported, which is 0.4% of our global workforce.
- The COVID-19 pandemic and related mitigation measures have created significant volatility and uncertainty in the oil and gas industry.
Revenue & Expenses
Visualization of income flow from segment revenue to net income