The year-over-year growth was down from the 19% reported during the company's 2023 first quarter.
Latest In MRC Global (McJunkin-Red Man)
See the key financial figures reported by five major industrial distributors.
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The industrial PVF products distributor reported 4Q sales of $869 million, an increase of 27% compared to the same quarter in 2021.
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Third-quarter sales reached $904 million, a 7% sequential increase from the second quarter of 2022 and a 32% improvement over 3Q 2021.
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The PVF products distributor saw its best adjusted EBITDA margin since 2014 amid double-digit growth in each of its end-market sectors.
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The distributor also said annual revenue is now targeted at $3.3 billion, up from the previous guidance of $3.1 billion.
Emily Shields has been with MRC since 2013 as a leader in the company’s litigation and compliance efforts as well as other corporate matters.
The company said it enhanced its internal ESG Committee with executive-level leaders to further integrate ESG into its business strategy.
Despite impressive first-quarter sales and profit numbers for major distributors, stakeholders may still notice a hint of caution in the air as the calendar turns to summer. Download MDM's May 2022 Premium Monthly issue to read more.
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The distributor reported 2022 first-quarter gross profit of $136 million, compared to $103 million during the same quarter in 2021.
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Pipes, valves and fittings distributor MRC Global Inc. reported 2021 4Q sales of $686 million, an 18% increase over 2020.
Rhys J. Best will retire upon completion of his term as a director at the annual meeting of the company’s stockholders in May, the company said.
The global distributor of pipe, valves and fittings and infrastructure products had sales of $685 million in the third quarter of 2021.
The pipes, valves and fittings distributor saw sales improve and significantly narrowed its loss in the period.
