MRC Global (MRC) Tops Q3 EPS by 8c, Raises Buyback

November 3, 2016 5:15 PM EDT
Get Alerts MRC Hot Sheet
Trade MRC Now!
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.

MRC Global (NYSE: MRC) reported Q3 EPS of ($0.06), $0.08 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $793 million versus the consensus estimate of $757.91 million.

Share Repurchase Program Update

In November 2015, the board of directors authorized a share repurchase program for common stock of up to $100 million, which was increased in November 2016 to $125 million. During the third quarter of 2016, the company repurchased $17 million of its common stock at an average price of $14.92 per share. In total, the company has repurchased 7.2 million shares of its common stock for an average price of $13.85. The outstanding share count as of September 30, 2016 is 95.3 million.

For earnings history and earnings-related data on MRC Global (MRC) click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Earnings, Stock Buybacks

Related Entities

Stock Buyback, Earnings

Add Your Comment