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

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

MRC Global Announces Third Quarter 2016 Results and Increase of Share Repurchase Program to $125 Million

November 3, 2016 4:15 PM EDT

HOUSTON, Nov. 3, 2016 /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 2016 results.

The company's sales were $793 million for the third quarter of 2016, which were 26% lower than the third quarter of 2015 and 6% higher than the second quarter of 2016. As compared to last year, reduced customer activity across all sectors drove the decline as a result of lower oil and natural gas prices. Sequentially, improvements in upstream... More