MRC Global Inc. (NYSE: MRC), a global pipe, valves, fittings and infrastructure products and services distributor, announced that second-quarter sales for 2022 were $848 million, a 24% increase from the same prior-year period. Net income was $14 million, up from $4 million in 2021.
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“Strong double-digit growth in each of our end-market sectors drove second-quarter revenue of $848 million, a 14% sequential improvement, while adjusted EBITDA margin was 7.7%, our best quarterly result since 2014. The gas utilities and downstream, industrial and energy transition (DIET) sectors led the sequential improvement and combined represent 68% of our revenue for the quarter,” MRC Global President and CEO Rob Saltiel said.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.