MRC Global Q4 2021 Earnings Report
Key Takeaways
MRC Global reported an 18% increase in sales, reaching $686 million in Q4 2021 compared to Q4 2020. The adjusted EBITDA was $47 million, the highest since Q3 2018. The company targets at least $3 billion of revenue and $190 million of adjusted EBITDA for 2022.
Sales increased by 18% to $686 million compared to the same quarter of 2020.
Adjusted EBITDA reached $47 million, representing 6.9% of sales, the highest since the third quarter of 2018.
Adjusted gross profit was 21.6% of sales.
Cash flow from operations was $40 million.
MRC Global
MRC Global
MRC Global Revenue by Segment
MRC Global Revenue by Geographic Location
Forward Guidance
In 2022, MRC Global expects to achieve at least $3 billion in revenue and $190 million in adjusted EBITDA, with potential for outperformance if capital spending exceeds forecasted levels.
Positive Outlook
- All four U.S. end-market sectors are expected to achieve double-digit revenue growth.
- Canada segment is expected to deliver revenue and adjusted EBITDA above 2021 levels.
- International segment is expected to deliver revenue and adjusted EBITDA above 2021 levels.
- Targeting at least $3 billion of revenue for the company as a whole.
- Targeting $190 million of adjusted EBITDA for the company as a whole.
Revenue & Expenses
Visualization of income flow from segment revenue to net income