MRC Global Inc. Reports Strong 2024 Financial Results

MRC Global Inc ( (MRC) ) has released its Q4 earnings. Here is a breakdown of the information MRC Global Inc presented to its investors.

MRC Global Inc., headquartered in Houston, Texas, is a leading global distributor of pipe, valves, fittings, and other infrastructure products and services, primarily serving the gas utilities, downstream, industrial and energy transition, and production and transmission infrastructure sectors. With over 100 years of experience, the company offers innovative supply chain solutions from a worldwide network of approximately 200 locations.

MRC Global Inc. reported its full-year and fourth-quarter 2024 financial results, highlighting a robust operating cash flow of $268 million, the highest since 2015, and total sales of $3,011 million for the year. The company achieved a net income of $78 million from continuing operations and an adjusted EBITDA of $202 million, representing 6.7% of sales.

Key financial metrics for the fourth quarter of 2024 included operating cash flows of $73 million, sales of $664 million, and a net loss of $1 million from continuing operations. The adjusted EBITDA for the quarter was $32 million, or 4.8% of sales. Notably, the company achieved a record low working capital as a percentage of sales at 11.2%. The company also announced a new joint venture, IMTEC, aimed at developing smart meters for gas utilities customers.

Looking ahead, MRC Global’s management is optimistic about 2025, expecting growth in all business sectors due to factors such as the rebound of the gas utilities business and increased U.S. natural gas infrastructure investment. The company anticipates revenue growth in the low to high-single digits and plans to generate at least $100 million in cash from operations, aiming for a net debt leverage ratio of 1.5x by year-end.