MRC Global Sales Down 6.1% in 2013 - Modern Distribution Management

MRC Global Sales Down 6.1% in 2013

MRC Global sales up 2.9% in 4Q.

MRC Global Inc. (NYSE: MRC), Houston, TX, reported full year sales for 2013 of $5.2 billion, a decrease of 6.1 percent from 2012. Profit increased 28.9 percent to $152.1 million.

Fourth quarter sales were $1.3 billion, an increase of 2.9 percent from the same period the previous year. Profit increased to $23.3 million, compared to a loss of $6.4 million from the previous year.

U.S. sales in the fourth quarter were up 6 percent, due primarily to the acquisitions of PSS and Flow Control. In addition, the company experienced organic growth in the sales of its gas utility and line pipe product lines.

Canadian sales in the fourth quarter were down 10.6 percent, due primarily to an underlying reduction in sales of approximately 6 percent.

International sales in the fourth quarter increased 1.8 percent, with growth in sales from Europe and Asia, but were partially offset by a decline in sales from Australia.

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