MRC Global ends difficult year with 24 percent Q4 sales decline
MRC Global reported sales of $579 million for the fourth quarter of 2020,1 percent lower than the third quarter of 2020 and 24 percent down from the fourth quarter of 2019.
Sequential sales were essentially flat as both the gas utilities and upstream production sectors experienced growth, offset by declines in the midstream pipeline and downstream and industrial sectors.
A net loss of $11 million, or a loss of 13 cents per diluted share, compared to a net loss of $30 million, or 37 cents per diluted share in the fourth quarter of 2019.
For the full year, sales of $2.6 billion were down 30 percent from $3.7 billion in 2019. A net loss of $298 million, or a loss of $3.36 per share, compared to net income of $15 million, or a gain of 18 cents per share, the previous year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
