MRC Global inc. (NYSE:MRC) Files An 8-K Results of Operations and Financial Condition

ME Staff 8-k
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MRC Global inc. (NYSE:MRC) Files An 8-K Results of Operations and Financial Condition
Item 2.02Results of Operations and Financial Condition

On May 2, 2019, MRC Global Inc. (MRC Global or the Company) issued a press release announcing its financial results for the threemonths ended March 31, 2019. A copy of the press release is furnished as Exhibit 99.1to this Form 8-K and is incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01Regulation FD Disclosure.

MRC Global expects the following results with respect to the operations and performance of the Company for the 2019 fiscal year:

The following table reconciles gross profit and gross profit percentage, GAAP measures, to Adjusted Gross Profit and Adjusted Gross Profit percentage, non-GAAP measures (in millions):

* Percentages are based on the midpoint of revenue guidance provided above.

The following table reconciles net income, a GAAP measure, with Adjusted EBITDA, a non-GAAP measure, based on the mid-point of the guidance (in millions):

99.1 Press release of MRC Global Inc. dated May 2, 2019

INDEX TO EXHIBITS

MRC GLOBAL INC. Exhibit
EX-99.1 2 mrc-20190502xex99_1.htm EX-99.1 Earnings Release Exhibit 99.1 Exhibit 99.1 Exhibit 99.1    E MRC Global Announces First Quarter 2019 Results  Sales of $970 million Net income attributable to common stockholders of $12 million Diluted earnings per common share of $0.14 Adjusted EBITDA of $56 million   Houston,…
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About MRC Global inc. (NYSE:MRC)

MRC Global Inc. is an industrial distributor of pipe, valves and fittings (PVF) and related products and services to the energy industry. The Company operates through three segments: the United States of America, Canada and International. It has branches in principal industrial, hydrocarbon producing and refining areas throughout the United States, Canada, Europe, Asia, Australasia, the Middle East and Kazakhstan. Its product types include valves, automation and instrumentation; carbon steel fittings and flanges and stainless steel and alloy pipe and fittings; line pipe, and oil country tubular goods (OCTG). Its valves, automation and instrumentation product offering includes ball, butterfly, gate, check, needle and plug valves, which are manufactured from cast steel, stainless/alloy steel, forged steel, carbon steel or cast and ductile iron. Its carbon steel fittings and flanges include carbon weld fittings, flanges and piping components used to connect piping and valve systems.