MRC Global Inc.’s 2024 Financial Results: A Year of Growth and Improvement
On March 14, 2025, MRC Global Inc. (MRC) reported its full year and fourth quarter financial results for 2024. The company, which operates as a leading distributor of pipe, valves, and hydration and flow solutions, delivered strong financial performance, marking a significant improvement from previous years.
Full Year 2024 Financial Highlights
MRC Global reported operating cash flows from continuing operations of $268 million, the highest since 2015. The company’s sales reached $3,011 million, marking a 3.2% increase compared to the previous year. Net income from continuing operations amounted to $78 million, and adjusted EBITDA reached $202 million, representing 6.7% of sales. Gross profit as a percentage of sales was 20.6%, while adjusted gross profit was 21.9%, marking the third consecutive year above 21%. Net debt was reported at $324 million, resulting in a 1.6x net debt leverage ratio.
Fourth Quarter 2024 Financial Highlights
The fourth quarter of 2024 showed continued improvement, with operating cash flows from continuing operations amounting to $73 million. Sales for the quarter were reported at $664 million, a 5.4% decrease compared to the previous year. Despite the sales decline, MRC Global managed to report a net loss from continuing operations of ($1) million. Adjusted EBITDA for the quarter was $32 million, representing 4.8% of sales. Gross profit as a percentage of sales was 20.3%, and adjusted gross profit was 22.0%. Working capital, as a percentage of sales, reached a record low of 11.2%.
CEO’s Comments
Rob Saltiel, MRC Global’s President and CEO, expressed optimism about the business outlook for 2025. He cited the rebound of the gas utilities business, the return of inflation to product pricing, the growth of U.S. natural gas infrastructure investment, and the company’s penetration into chemicals, mining, and data center markets as key drivers for this optimism.
Impact on Individuals
For individuals directly involved with MRC Global or the industries it serves, the company’s financial results could have several positive implications. The company’s improved financial performance may lead to increased investments in research and development, as well as potential job growth. Additionally, the growth of the U.S. natural gas infrastructure industry and MRC Global’s expansion into new markets may create new opportunities for employment.
Impact on the World
On a larger scale, MRC Global’s financial results and anticipated growth could have significant impacts on the world. The growth of the U.S. natural gas infrastructure industry could lead to increased energy security and reduced greenhouse gas emissions, as natural gas is a cleaner-burning alternative to coal. Additionally, MRC Global’s expansion into new markets, such as chemicals, mining, and data centers, could contribute to the development of these industries and drive economic growth in those sectors.
Conclusion
MRC Global’s 2024 financial results represent a significant improvement from previous years and set the stage for continued growth in 2025. The company’s financial performance, coupled with the anticipated growth of the industries it serves, could lead to positive impacts for individuals and the world at large. As MRC Global continues to expand and innovate, it is poised to play a crucial role in the development of various industries and the global economy.
- MRC Global reported strong financial performance in 2024, with operating cash flows from continuing operations reaching $268 million, the highest since 2015.
- Net income from continuing operations amounted to $78 million, and adjusted EBITDA reached $202 million, representing 6.7% of sales.
- Gross profit as a percentage of sales was 20.6%, and adjusted gross profit was 21.9% for the third consecutive year above 21%.
- MRC Global reported a net loss from continuing operations of ($1) million in the fourth quarter, but operating cash flows from continuing operations were $73 million.
- Rob Saltiel, MRC Global’s President and CEO, expressed optimism about the business outlook for 2025, citing the rebound of the gas utilities business, the return of inflation to product pricing, the growth of U.S. natural gas infrastructure investment, and the company’s penetration into chemicals, mining, and data center markets.
- The company’s financial performance and anticipated growth could lead to positive impacts for individuals and the world, including increased job opportunities, energy security, and economic growth in various industries.
