Houston-based industrial PVF distributor MRC Global recently announced its second-quarter 2017 results.
Company's sales were $922 million for the second quarter of 2017, which was 24% higher than the second quarter of 2016 and 7% higher than the first quarter of 2017. Increased customer spending and well-completion activity in the midstream and upstream sectors drove the improvement in both comparative periods.
Net income attributable to common stockholders for the second quarter of 2017 was $0 million, or $0.00 per diluted share, compared to a net loss attributable to common stockholders of $(23) million, or $(0.24) per diluted share for the second quarter of 2016. The second quarter of 2017 results include an after-tax charge of $2 million or ($0.02) per diluted share related to our previously disclosed litigation settlement with Weatherford Canada Partnership. The second quarter 2016 results include after-tax severance and restructuring charges of $3 million or ($0.03) per diluted share.