Houston-based MRC Global Inc. (NYSE: MRC), distributor of PVF and other infrastructure products and services to oil and gas markets, reported sales for the full year 2024 were $3 billion, down 7.8%. Profit was $55 million.
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Fourth-quarter sales were $664 million, down 10% from the year-ago period. MRC reported a loss of $23 million.
U.S. sales in the fourth quarter were $542 million, a 14% decrease from the same quarter in 2023. Gas Utilities sector sales were consistent with the prior year. DIET sector sales decreased by 25% due to the conclusion of several projects and lower turnaround spending. PTI sector sales decreased 23% due to lower customer activity and fewer projects.
International sales in the fourth quarter of 2024 were $122 million, up 14% from the same period in 2023.
“We are optimistic about our business outlook for 2025 due to the rebound of our gas utilities business, the return of inflation to our product pricing, the growth of U.S. natural gas infrastructure investment and our penetration into chemicals, mining and data center markets,” said Rob Saltiel, MRC Global’s president and CEO.
