MRC Global Sales Down 23.7% in 2015 - Modern Distribution Management

MRC Global Sales Down 23.7% in 2015

Fourth quarter sales down 36 percent.

MRC Global Inc. (NYSE: MRC), Houston, TX, reported sales for 2015 of $4.5 billion, a decrease of 23.7 percent from the previous year. The company reported a loss of $344.8 million, down from a profit of $144.1 million in 2014.

Fourth quarter sales were $967.1 million, a decrease of 36 percent from the same period the previous year. The company reported a loss of $398.8 million, down from a profit of $31.2 million in 2014.

U.S. sales in the fourth quarter were $778.2 million, down 32.8 percent, which the company attributed to reduced customer spending.

Canadian sales in the fourth quarter were $66.2 million, down 57.3 percent, primarily due to the stronger U.S. dollar.

International sales in the fourth quarter were $122.7 million, down 38.2 percent, also due primarily to the stronger U.S. dollar.

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