MRC Global ( (MRC) ) has provided an announcement.
MRC Global reported its full year and fourth quarter 2024 financial results, highlighting a net income of $78 million for the year despite a net loss of $1 million in the fourth quarter. The company achieved $268 million in operating cash flows, the highest since 2015, and maintained strong gross profit margins. Looking forward, MRC Global is optimistic about 2025, driven by growth in its gas utilities business and new market penetrations, alongside a strategic joint venture for smart meter development. The company also plans a $125 million share buyback and aims to achieve a target net debt leverage ratio of 1.5x by year-end.
More about MRC Global
MRC Global Inc. operates in the industrial distribution sector, specializing in the supply of pipe, valve, and fitting products and services to the energy and industrial sectors. The company focuses on gas utilities, downstream, industrial, and energy transition sectors, with a significant presence in the U.S. and international markets.
YTD Price Performance: -12.45%
Average Trading Volume: 683,879
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $957.3M
Find detailed analytics on MRC stock on TipRanks’ Stock Analysis page.
Trending Articles:
Questions or Comments about the article? Write to editor@tipranks.com