MRC Global Inc. announced selected preliminary first quarter 2025 results from continuing operations on April 16, 2025, indicating a strong start to the year with activity levels and margins exceeding expectations. The U.S. segment was a primary driver of sequential revenue increase, with the Downstream, Industrial, Energy Transition (DIET) sector up 13%, Gas Utilities up 8%, and Production & Transmission Infrastructure (PTI) up 6%.
The company expressed optimism for continued revenue growth in the second quarter, estimating a high-single to low-double digit percentage increase in sequential sales. This positive outlook is supported by a growing U.S. backlog, which has increased by more than 20% since the beginning of the year, reflecting increased order purchasing levels across all sectors.
MRC Global also confirmed that the recent volatility in its share price provides an opportunity to begin the execution of its $125 million share repurchase program in the second quarter. This move aligns with the company's capital allocation strategy to return cash to shareholders, leveraging its strengthened balance sheet and anticipated consistent cash flow generation.
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