KeyBanc Downgrades MRC Global (MRC) to Sector Weight

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Go back to KeyBanc Downgrades MRC Global (MRC) to Sector Weight

MRC Global Announces Third Quarter 2015 Results and $100 Million Share Repurchase Program

November 5, 2015 4:16 PM EST

HOUSTON, Nov. 5, 2015 /PRNewswire/ -- MRC Global Inc. (NYSE: MRC), the largest global distributor, based on sales, of pipe, valves and fittings and related products and services to the energy industry, today announced third quarter 2015 results.

The company's sales were $1.071 billion for the third quarter of 2015, which were 34% lower than the third quarter of 2014 and 11% lower than the second quarter of 2015. The decline was driven by reduced activity across all sectors but particularly upstream. Sales were also negatively impacted by the strengthening of the U.S. dollar, which reduced... More