Posted July 29, 2021

MRC Global sales gain 14 percent

MRC Global Inc. reported second-quarter sales of $686 million, 14 percent higher than $602 million in the second quarter of 2020.

Gas utilities led the revenue growth as customers continued executing integrity upgrade plans on their natural gas distribution networks. As compared to the second quarter of 2020, broad economic recovery drove improvement in sales across all sectors, except midstream pipeline.

Net loss attributable to common stockholders for the quarter of was $2 million, or a loss of 2 cents per diluted share, as compared to the second quarter of 2020 net loss of $287 million, or a loss of $3.50 per diluted share.

“Our second quarter results were strong with 13 percent higher revenue sequentially, led by gains in our industry-leading gas utilities business," said Rob Saltiel, MRC Global’s president and chief executive officer. "Our financial results reflect improving market conditions and our commitment to superior customer service and operational efficiency. We are increasingly optimistic about our outlook across all of our end-markets, including the energy transition space, through the second half of 2021 and into 2022."