Showing: 1-10 of 75
  • MRC Global Inc. Announces First Quarter 2014 Earnings Release And Conference Call Schedule

    HOUSTON, March 19, 2014 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that it will release its first quarter 2014 results on Thursday, May 1, 2014 after the market closes. In conjunction with the release, the Company has scheduled a conference call, which will be broadcast live over the Internet, for Friday, May 2, 2014 at 10:00 a.m. Eastern / 9:00 a.m. Central.

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  • MRC Global Announces Fourth Quarter And Full Year 2013 Results And Introduces 2014 Guidance

    - Fourth quarter sales of $1.34 billion; Annual sales of $5.23 billion
    - Fourth quarter diluted EPS of $0.23; Annual diluted EPS of $1.48, up 21% from 2012
    - Fourth quarter adjusted EBITDA of $87 million; Annual adjusted EBITDA of $386 million
    - Fourth quarter net income of $23 million; Annual net income of $152 million
    - Generated $324 million in cash from operations in 2013
    - 2014 sales guidance $5.5 billion to $5.8 billion


    HOUSTON, Feb. 20, 2014 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC), the largest global distributor, based on sales, of pipe, valves and fittings (PVF) and related products and services to the energy industry, today announced fourth quarter and full year 2013 results and introduced 2014 guidance.

    The company's sales increased 3% from $1.31 billion in the fourth quarter of 2012 to $1.34 billion in the same quarter of 2013. The increase of $37 million came from the acquisitions of Production Specialty Services Inc. (PSS), Flow Control Products (Flow Control) and Flangefitt Stainless Ltd. (Flangefitt), all of which are primarily in the upstream sector.

    Net income for the fourth quarter of 2013 was $23.3 million, or $0.23 per diluted share, compared to a fourth quarter 2012 net loss of ($6.4) million, or ($0.06) per diluted share.

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  • MRC Global Announces Closing of Stream AS Acquisition

    HOUSTON, TX – January 6, 2014 – MRC Global Inc. (NYSE: MRC) announced today that it has closed the previously announced acquisition of Stream AS. Headquartered in Norway, Stream is the leading pipe, valve and fittings (PVF) distributor and provider of flow control products, solutions and services to the offshore oil and gas industry on the Norwegian Continental Shelf.

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  • MRC Announces Two International Acquisitions
    HOUSTON, Dec. 9, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that it has entered into an agreement to acquire privately held Stream AS for approximately $260 million (Norwegian Kroner 1.60 billion) including the assumption of debt. Headquartered in Norway, Stream's 2013 revenues are estimated at $273 million (Norwegian Kroner 1.68 billion). Stream is the leading pipe, valve and fittings (PVF) distributor and provider of flow control products, solutions and services to the offshore oil and gas industry on the Norwegian Continental Shelf (NCS), the world's largest offshore sector. The acquisition is expected to close in January 2014, subject to normal and customary closing conditions, and MRC Global expects to fund the acquisition of Stream through the use of MRC's existing credit facilities. The selling shareholders of Stream are HitecVision and Converto Capital.
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  • Affiliated Investment Funds Of Goldman Sachs Complete Sale Of Stake In MRC Global

    HOUSTON, Nov. 13, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that certain investment funds affiliated with Goldman Sachs & Co. (the Goldman Sachs Funds) have completed their sale of 17,489,233 shares of the common stock of MRC Global. Goldman Sachs through the Goldman Sachs Funds was the private equity sponsor of MRC Global beginning with a private investment in 2007. In April 2012, MRC Global became a publicly traded company in an initial public offering (IPO). As a result of the completion of today's sale of MRC Global shares, the Goldman Sachs Funds no longer have a stake in MRC Global.

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  • MRC Global Awarded PFF Agreement From BP International For Global Upstream Projects
    HOUSTON, Nov. 7, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that its subsidiary, McJunkin Red Man Corporation, has been awarded a five year global framework agreement with BP International Ltd. to supply pipes, fittings and flanges (PFF) for BP's Global Projects Organization.
  • MRC Global Inc. Announces Secondary Public Offering Of 17,489,233 Shares Of Common Stock By Selling Stockholders

    HOUSTON, Nov. 7, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that investment funds managed by the Merchant Banking Division of The Goldman Sachs Group, Inc. (Goldman Sachs MBD) have agreed to sell 17,489,233 shares of the company's common stock in a registered underwritten public offering. Barclays Capital Inc. is acting as the sole underwriter of the offering. The price to the public in the offering is $28.90 per share. Following the offering, Goldman Sachs MBD will no longer own any shares of the company. The company will not receive any of the proceeds of this offering. The offering is subject to customary closing conditions and is expected to close on November 13, 2013.

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  • MRC Global Inc. Announces Secondary Public Offering Of 17,489,233 Shares Of Common Stock By Selling Stockholders

    HOUSTON, Nov. 6, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE:MRC) announced today a registered underwritten public offering of 17,489,233 shares of the company's common stock held by investment funds managed by the Merchant Banking Division of The Goldman Sachs Group, Inc. (Goldman Sachs MBD). Following the offering, Goldman Sachs MBD will no longer own any shares of the company. The company will not receive any of the proceeds of this offering, and the total number of shares of common stock outstanding will not change as a result of this offering.

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  • MRC Announces Third Quarter 2013 Results

    Sales of $1.31 billion
    Diluted EPS of $0.38 per share
    Adjusted diluted EPS of $0.40 per share
    Adjusted EBITDA of $96.4 million

    HOUSTON, Oct. 31, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC), the largest global distributor, based on sales, of pipe, valves and fittings (PVF) and related products and services to the energy and industrial sectors, today announced third quarter 2013 results.


    MRC Global's sales of $1.31 billion in the third quarter of 2013 decreased 9.5% from $1.45 billion in the third quarter of 2012 due, in part, to a planned reduction in the company's lower margin oil country tubular goods (OCTG) business. OCTG represented 8.0% of sales in the third quarter of 2013 compared to 12.8% of sales in the third quarter of 2012. Excluding OCTG, sales were lower across all sectors and segments. The decline in sales was partially offset by the acquisitions of Production Specialty Services Inc. (PSS) and Flow Control Products (Flow Control), which together contributed $33 million of revenue in the third quarter of 2013.
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  • MRC Global is Awarded Gulf Coast Petrochemicals Project Framework Agreement By Chevron Phillips Chemical

    HOUSTON, and THE WOODLANDS, Texas, Oct. 30, 2013 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC) announced today that Chevron Phillips Chemical Company LP (Chevron Phillips Chemical) has awarded McJunkin Red Man Corporation, a subsidiary of MRC Global, a framework agreement for the supply of pipes, valves and fittings (PVF) and valve automation for Chevron Phillips Chemical's U.S. Gulf Coast Petrochemicals Project.