MRC Global releases full year and Q4 2020 financial results
MRC Global announced full year and fourth quarter 2020 results. The company’s sales were $579 million for the fourth quarter of 2020, which was 1% lower than the third quarter of 2020 and 24% lower than the fourth quarter of 2019.
Sequential sales were essentially flat as both the gas utilities and upstream production sectors experienced growth,offset by declines in the midstream pipeline and downstream and industrial sectors. The international segment also experienced growth on a sequential basis. As compared to the fourth quarter of 2019, the decline in sales was across all sectors and segments,with the exception of the gas utilities segment, which experienced significant growth.Net loss attributable to common stockholders for the fourth quarter of 2020 was $11 million, or $0.13 per diluted share, as compared to a net loss of $30 million, or $0.37 per diluted share in the fourth quarter of 2019.