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Mrc Global Inc. (MRC)
NYSE:MRC
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Earnings Data
Report Date
Feb 11, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.1Last Year’s EPS
$0.23Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2024
|% Change Since: 0.08%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a mixed outlook. While the company achieved significant financial restructuring and cash flow generation, challenges remain with revenue declines, margin pressures, and sector-specific issues. However, the positive developments in capital structure and international growth provide some optimism for the future.Company Guidance
During MRC Global's Q3 2024 earnings call, several key metrics and guidance updates were discussed, reflecting the company's strategic direction and financial health. The company reported third-quarter revenue of $797 million, marking a 4% sequential decline, attributed to reduced U.S. oilfield activity and completed projects. Despite this, MRC Global achieved a record low net working capital to sales ratio of 14.3%, significantly boosting operating cash flow to $96 million for the quarter and $197 million year-to-date, surpassing their annual target a quarter early. The leverage ratio was adjusted to 1.7x following the issuance of a $350 million Term Loan B, intended to replace convertible preferred shares and improve capital structure. The company raised its 2024 cash flow guidance to $220 million or more, with expectations of consistent cash generation between $100 million and $150 million annually over the next three years. Adjusted EBITDA margins were reported at 6% for the third quarter, with a focus on reducing SG&A costs in 2025 to enhance profitability. MRC Global also anticipates revenue growth in its international segment and improved spending in the gas utilities sector in 2025, despite ongoing challenges in the PTI sector due to oilfield activity slowdowns.Successful Capital Structure Simplification
MRC Global issued a new $350 million Term Loan B to repurchase convertible preferred shares, leading to a credit rating upgrade and expected to be accretive to cash flow and earnings for 2025 and beyond.
Strong Cash Flow Generation
The company generated $96 million in operating cash flow in Q3 and $197 million through the third quarter, meeting its 2024 full-year target of $200 million one quarter early. Guidance for 2024 operating cash flow was increased to $220 million or more.
International Business Growth
International revenue grew 21% year-over-year and 4% sequentially, driven by growth in the PTI and DIET sectors, with a backlog 22% higher than a year ago.
Improved Net Working Capital Efficiency
The company set a new record low for net working capital to sales at 14.3% in Q3.
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MRC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MRC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 05, 2024 | $12.60 | $14.44 | +14.60% |
| Aug 06, 2024 | $13.18 | $12.50 | -5.16% |
| May 08, 2024 | $11.72 | $12.76 | +8.87% |
| Feb 13, 2024 | $10.38 | $11.78 | +13.49% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mrc Global Inc. (MRC) report earnings?
Mrc Global Inc. (MRC) is schdueled to report earning on Feb 11, 2025, After Close Not Confirmed.
What is Mrc Global Inc. (MRC) earnings time?
Mrc Global Inc. (MRC) earnings time is at Feb 11, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MRC EPS forecast?
MRC EPS forecast for the fiscal quarter 2024 (Q4) is $0.1.
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