NYSE$MRC
Mrc Global Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported strong growth and diversification, exceeding expectations in upstream, chemicals, and energy transition end-markets, and achieving multi-year high adjusted EBITDA margins.
MRC Global reported a strong finish to 2022, with fourth quarter revenue consistent with previous guidance and ahead of the normal seasonal decline. Full year 2022 performance was exceptional and benefitted greatly from the company's growth and diversification strategy.
- Sales of $869 million, an increase of 27% compared to the same quarter of 2021
- Adjusted EBITDA of $66 million, 7.6% of sales, a 70-basis point improvement over the prior year
- Adjusted Gross Profit, as a percentage of sales, of 21.2%, the third consecutive quarter exceeding 21%
- Cash flow provided by operations of $10 million during the fourth quarter, for a total of $43 million in the second half of 2022
Headline financials
Revenue & EPS history
MRC Global · Revenue · Quarterly
$869M
Revenue by segment
MRC Global · $850M total across 2 segments · Q3 2023
- U.S. Sales$745M-3.0%87.6%
- International Sales$105M+6.1%12.4%
Forward guidance
The company maintains its positive outlook for 2023 with solid fundamentals anticipated for each of its business sectors and geographic segments. They reaffirm their previous 2023 guidance targeting double-digit revenue growth and adjusted EBITDA margins to exceed 8%. They are increasing their guidance for expected cash flow from operations in 2023 to now exceed $120 million, up from $100 million previously.
Tailwinds
- Double-digit revenue growth
- Adjusted EBITDA margins to exceed 8%
- Cash flow from operations in 2023 to exceed $120 million
- Solid fundamentals anticipated for each business sector
- Solid fundamentals anticipated for each geographic segment
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
+1.5%
Avg return
Earnings day
+5.7%
Avg return
5 days after
+3.8%
Avg return
30 days after
53%
29 / 55 earnings
Positive
+43.4%
Q1 2020
Best reaction
-19.2%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | — | — | — | |
| Q2 2025 | -6.7% | -5.9% | +5.2% | |
| Q1 2025 | -6.0% | +6.6% | +4.5% | |
| Q4 2024 | +2.4% | +6.4% | -11.6% | |
| Q3 2024 | +18.4% | +11.8% | +13.6% | |
| Q2 2024 | -3.8% | -7.6% | -5.2% | |
| Q1 2024 | +9.4% | +18.8% | +8.5% | |
| Q4 2023 | +8.3% | +9.7% | +11.9% | |
| Q3 2023 | -5.3% | — | — | |
| Q2 2023 | -16.7% | — | — | |
| Q1 2023 | +0.3% | — | — | |
| Q4 2022 | -3.1% | — | — | |
| Q3 2022 | +8.0% | — | — | |
| Q2 2022 | -13.1% | — | — | |
| Q1 2022 | -19.2% | — | — | |
| Q4 2021 | +13.7% | — | — | |
| Q3 2021 | -9.3% | — | — | |
| Q2 2021 | -4.3% | — | — | |
| Q1 2021 | +5.3% | — | — | |
| Q4 2020 | -7.0% | — | — | |
| Q3 2020 | +4.0% | — | — | |
| Q2 2020 | +0.3% | — | — | |
| Q1 2020 | +43.4% | — | — | |
| Q4 2019 | -8.2% | — | — | |
| Q3 2019 | +22.0% | — | — | |
| Q2 2019 | -3.4% | — | — | |
| Q1 2019 | +7.7% | — | — | |
| Q4 2018 | +9.2% | — | — | |
| Q3 2018 | +10.0% | — | — | |
| Q2 2018 | -3.0% | — | — | |
| Q1 2018 | +2.2% | — | — | |
| Q4 2017 | -1.2% | — | — | |
| Q3 2017 | -2.7% | — | — | |
| Q2 2017 | +0.1% | — | — | |
| Q1 2017 | +4.0% | — | — | |
| Q4 2016 | -1.8% | — | — | |
| Q3 2016 | +2.0% | — | — | |
| Q2 2016 | +6.7% | — | — | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | +15.0% | — | — | |
| Q3 2015 | +14.6% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | +14.2% | — | — | |
| Q4 2014 | -5.8% | — | — | |
| Q3 2014 | +3.7% | — | — | |
| Q2 2014 | -6.0% | — | — | |
| Q1 2014 | -0.2% | — | — | |
| Q4 2013 | -13.7% | — | — | |
| Q3 2013 | +4.7% | — | — | |
| Q2 2013 | -9.9% | — | — | |
| Q1 2013 | +6.7% | — | — | |
| Q4 2012 | -6.0% | — | — | |
| Q3 2012 | +3.1% | — | — | |
| Q2 2012 | -1.4% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q1 2012 | +1.6% | — | — | |
| Q4 2009 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro