17
Feb
15:21
Weak midstream leads to Q4 loss for MRC
Pipe, valve and fittings supplier MRC Global recorded a loss in its fourth quarter as a result of seasonally depressed sales, Kallanish reports.
MRC posted a loss of $24 million in Q4 on sales of $719m, down -26% on year. In Q4 2015, the company lost $399m, including after-tax charges and other items totaling $411m.
"As expected, fourth quarter revenue was down -9% sequentially due to seasonality primarily driven by US midstream,” says ceo Andrew L…
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Anonymous
Very good overview of the weekly steel market.
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