MRC Global Inc. (NYSE: MRC), Houston, Texas, global distributor of PVF and other infrastructure products and services to diversified energy, industrial and gas utilities end markets, reported sales for first quarter 2024 were $806 million, up 5% from the fourth quarter 2023 but down 9% from a year ago.
Don’t miss any content from Distribution Strategy Group. Join our list.
Profit was $19 million, down from $34 million from the same quarter in 2023.
U.S. sales in the first quarter of 2024 were $667 million, down $73 million, or 10%, from the same quarter in 2023. Canada sales in the first quarter of 2024 were $29 million, down 31%, from the same quarter in 2023. International sales in the first quarter of 2024 were $110 million, up 7% from the same period in 2023.
Gas Utilities sales were down 13% in the first quarter, DIET sector sales were down 1%, and PTI sales were down 12%.
