MRC Global Inc (MRC) Releases Earnings Results, Misses Expectations By $-0.01 EPS

MRC Global Inc (MRC) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $-0.15 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $-0.14. The company posted revenue of $746.00 million in the period, compared to analysts expectations of $742.77 million. The company’s revenue was down -37.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

MRC Global Inc opened for trading at $12.83 and hit $13.28 on the upside on Friday, eventually ending the session at $13.23, with a gain of 2.48% or 0.32 points. The heightened volatility saw the trading volume jump to 10,47,453 shares. Company has a market cap of $1,305 M.

In a different news, on Jun 13, 2016, Gerard Pieter Krans (director) sold 15,130 shares at $15.02 per share price. According to the SEC, on May 10, 2016, Karl Witt (SVP Operations East/Gulf Coast) purchased 1,740 shares at $14.15 per share price. On Aug 14, 2015, Scott Alan Hutchinson (SVP – North America Operations) purchased 1,000 shares at $12.42 per share price, according to the Form-4 filing with the securities and exchange commission.

MRC Global Inc. is a global industrial distributor of pipe valves and fittings (PVF) and related products and services to the energy industry. The Company offers products that are used in the construction maintenance repair and overhaul of equipment used in extreme operating conditions such as high pressure high/low temperature and high corrosive and abrasive environments. Its product types include valves automation and instrumentation carbon steel fittings and flanges and stainless steel and alloy pipe and fittings line pipe and oil country tubular goods among others. The Company offers around 230000 stock keeping units including an array of PVF oilfield supply automation instrumentation and other general and specialty industry supply products. The Company operates through its U.S. Canadian and International segments. It has operations in over 400 service locations. It provides services such as product testing volume purchasing and warehousing among others.

MRC Global Inc

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