MRC Global Inc. reported its full year and fourth quarter 2024 results on March 14, 2025. For the full year 2024, the company generated $268 million in operating cash flows from continuing operations, its highest since 2015, on sales of $3,011 million. Net income from continuing operations was $78 million, with Adjusted EBITDA reaching $202 million, or 6.7% of sales.
For the fourth quarter of 2024, sales were $664 million, a 10% decrease from the fourth quarter of 2023 and a 14% decrease sequentially. The company reported a net loss from continuing operations of ($1) million and Adjusted EBITDA of $32 million, or 4.8% of sales. The completion of inventory cycle count procedures resulted in no adjustments to the income statement or balance sheet for 2024.
The Canada business, consistent with its previously announced sale, is reflected in discontinued operations, incurring losses of ($22) million in Q4 2024 and ($23) million for the full year 2024. Looking ahead, MRC Global is optimistic about 2025, projecting low to high-single digit revenue growth across all three business sectors, at least $100 million in cash from operations, and targeting a net debt leverage ratio of 1.5x by year-end.
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