MRC Global Inc. (NYSE: MRC), Houston-based worldwide distributor of pipe, valves, fittings and energy infrastructure products and services, reported sales for the quarter ended Sept. 30, 2024, were $797 million, down 10% from the prior-year period.
Don’t miss any content from Distribution Strategy Group. Join our list.
Profit was $23 million, down 20.7% from a year ago.
Quarterly sales in the U.S. were down 14% to $644 million due to slowing oilfield activity. Sales in Canada decreased 32% to $26 million.
Year-to-date sales were $2.4 billion, down 7.9% from 2023, while profit for the first nine months fell 16.1% to $78 million.
MRC Global operates 219 locations around the world, serving approximately 10,000 customers.
