MRC Global 2021 sales rise 4 percent
A strong fourth quarter helped MRC Global Inc. achieve sales of $2.7 billion in 2021, a gain of 4 percent compared to $2.6 billion the previous year.
A net loss of $38 million, or a loss of 46 cents per diluted share, improved from a loss of $298 million, or a loss of $3.63 per share, in 2020.
Fourth-quarter sales of $686 million increased 18 percent from $579 million in the same quarter last year.
A loss of $10 million in the quarter, or 12 cents per diluted share, compared to a loss of $11 million, or a loss of 13 cents per share, in the same quarter last year.
U.S. sales in the fourth quarter of 2021 were $566 million, a 26 percent increase from the same quarter in 2020.
Canadian sales in the fourth quarter of 2021 were $40 million, up 74 percent from the same quarter in 2020.
"In 2022, we expect all four of our U.S. end-market sectors to achieve double-digit revenue growth and for our Canada and International segments to each deliver revenue and adjusted EBITDA above 2021 levels. For the company as a whole, we are targeting at least $3 billion of revenue and $190 million of adjusted EBITDA. We believe there is potential for outperformance if capital spending levels exceed forecasted levels for our major customers,” said Rob Saltiel, president and chief executive officer.
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.
