MRC Global reports Q3 adjusted EPS 22c, consensus 19c

Reports Q3 revenue $797M, consensus $794.17M. Rob Saltiel, MRC Global’s (MRC) President and CEO, stated, “As we guided on our last earnings call, revenue and Adjusted EBITDA declined in the third quarter due to slowing activity in the U.S. oilfield and project delays in our DIET sector. Despite these headwinds, we generated operating cash flow of $96M, bringing our 2024 total to $197M, essentially achieving our full year cash flow target of $200M a quarter early.”