Sales of $1.198 billion
Net income available to common stockholders of $15 million
Diluted EPS of $0.15 per share
Adjusted diluted EPS of $0.22 per share
Adjusted EBITDA of $63 million
HOUSTON, Aug. 3, 2015 /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 second quarter 2015 results.
The company's sales were $1.198 billion for the second quarter of 2015, which were 20% lower than the second quarter of 2014 and 7.3% lower than the first quarter of 2015. The decline was driven primarily by reduced activity in the upstream sector. Sales were also negatively impacted by the strengthening of the U.S. dollar, which reduced reported sales by $40.8 million. Net income available to common stockholders, which is net income less dividends attributable to preferred stockholders, for the second quarter of 2015 was $15.0 million, or $0.15 per diluted share, compared to $39.3 million, or $0.38 per diluted share for the second quarter of 2014. Adjusted net income available to common stockholders, adjusted for certain severance, restructuring and finance charges for the second quarter of 2015, was $23.0 million, or $0.22 per diluted share, compared to $42.9 million, or $0.42 per diluted share for the second quarter of 2014. Please refer to the reconciliation of adjusted net income available to common stockholders (a non‑GAAP measure) to net income available to common stockholders (a GAAP measure) in this release.
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