MRC Global (NYSE:MRC) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$797.0m (down 10% from 3Q 2023).

• Net income: US$29.0m (flat on 3Q 2023).

• Profit margin: 3.6% (up from 3.3% in 3Q 2023). The increase in margin was driven by lower expenses.

• EPS: US$0.34 (down from US$0.34 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

MRC Global EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 42%.

Looking ahead, revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Trade Distributors industry in the US.

Performance of the American Trade Distributors industry.

The company's shares are up 18% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on MRC Global's balance sheet.

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