MRC Global 3Q Sales Up

The global distributor of pipe, valves and fittings and infrastructure products had sales of $685 million in the third quarter of 2021.
MRC Global 3Q 2021 earnings

Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC) of Houston reported 2021 third-quarter sales of $685 million, a 17% increase over the same quarter last year.

The company reported $686 million in sales in 2021’s second quarter.

MRC Global’s U.S. segment experienced modest growth, led by the downstream, industrial and energy transition sector, offset by the international segment, which declined due to delayed maintenance, repairs and operations and project activity.

“As compared to the third quarter of 2020, broad economic recovery drove improvement in sales across all sectors,” the company said.

The company’s 2021 3Q gross profit was $95 million, or 13.9% of sales, as compared to the third quarter of 2020’s gross profit of $114 million, or 19.5% of sales.

Gross profit for 2021 3Q includes $32 million of expense in cost of sales relating to the use of the last-in, first-out method of inventory cost accounting as compared to the third quarter of 2020, which reduced cost of sales by $11 million, the company said.

“Our third quarter results reflect solid execution and good cost control as we achieved adjusted EBITDA margins of 5.7%, the highest for our company in two years,” said Rob Saltiel, MRC Global’s president and CEO. “Our U.S. business grew 2% sequentially while our International segment experienced revenue declines due to delayed MRO and project activity. We expect double-digit revenue growth next year based on our growing backlog and increased customer activity.”

Related Posts

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.