MRC Global Sales Down 34% in 3Q - Modern Distribution Management

MRC Global Sales Down 34% in 3Q

U.S. sales decreased 28.2 percent year-over-year.

Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, TX, reported third-quarter sales of $1.1 billion, down 34 percent over the same period a year ago. Profit decreased 80 percent to $10 million.

U.S. sales in the third quarter were down 28.2 percent year-over-year to $865.4 million and Canadian sales were $69.4 million, down 56.9 percent. International sales in the third quarter were $136.4 million, down 45.8 percent.

For the first nine months, MRC sales were $3.6 billion, a 19.4 percent decrease over the prior-year period. Profit fell 52.1 percent to $54.1 million.

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