NEW YORK MRC
Global Inc. posted net income of $43.9 million during the
second quarter, a 39.9-percent increase from $31.3 million in
the same period last year despite an 11.4-percent decline in
sales to $1.27 billion.
Earlier this year, the
company vowed to move away from the lower-margin oil country
tubular goods (OCTG) market (
amm.com, Feb. 25).
company now expects full-year revenue of between $5.1 billion
and $5.3 billion and adjusted earnings before interest, taxes,
depreciation and amortization (Ebitda) of $385 million to $415
million, down from previous estimates of between $5.75 billion
and $5.95 billion and Ebitda of $480 million to $510
MRC is the largest global distributor of pipe, valves and
fittings and related products and services to the energy and
industrial sectors, according to its website.