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.