MRC Global Announces Fourth Quarter and Full Year 2019 Results
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MRC Global (MRC) Misses Q4 EPS by 41c, Revenues Miss; Offers FY20 EPS Guidance Below Consensus, FY20 Revenue Mid-Point Guidance Below Consensus
February 13, 2020 4:26 PM ESTMRC Global (NYSE: MRC) reported Q4 EPS of ($0.35), $0.41 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $766 million versus the consensus estimate of $850.02 million.
Andrew R. Lane, MRC Global's president and chief executive officer stated, "Customer spending levels in the fourth quarter were significantly lower than expected as budget exhaustion and capital discipline drove customer behavior. Despite sales being down this quarter, we generated $108 million... More
