MRC Global Inc. announced its second quarter 2025 results on August 6, 2025, reporting sales of $798 million. This figure was similar to the second quarter of 2024 and represented a 12% sequential increase from the first quarter of 2025, reaching the top of the company's guidance range. Net income from continuing operations was $13 million, a decrease from $30 million in Q2 2024.
Adjusted EBITDA for the second quarter surged 50% sequentially to $54 million, or 6.8% of sales, with margins expanding by 170 basis points. All sectors contributed to the sequential revenue increase, led by Production and Transmission Infrastructure (PTI) with 26% sales growth, and Gas Utilities with 10% sequential revenue growth.
The company returned $15 million to shareholders through share repurchases in the second quarter, buying 1.22 million shares at an average price of $12.35 per share. However, due to the pending all-stock merger agreement with DNOW Inc., the share repurchase program has been suspended. MRC Global reaffirmed its full-year guidance provided last quarter but will not be providing future financial guidance due to the pending merger, which is anticipated to close in the fourth quarter of 2025.
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