09
Nov
18:04
International sales drag down MRC Global earnings
While reporting a loss for the third quarter, US pipe distributor MRC Global is expecting double-digit revenue growth next year due to its growing backlog and increased customer activity.
MRC’s sales increased 17% year-on-year to $685 million in Q3. Its net loss attributable to shareholders widened, however, from $3m in Q3 2020 to $17m in this year’s Q3.
Total line pipe sales reached $103m in Q3, a 63% improvement over the same period in 2020. Sales o…
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