MRC Global (NYSE:MRC) Stock

MRC Global

MRC Global Inc distributes pipes, valves, fittings, and related products and services to the energy industry. Products are often used in the construction, maintenance, repair, and overhaul of equipment used in extreme operating conditions. In these conditions and other environments, MRC's valve products give the customer the ability to control the direction, velocity, and pressure of fluids and gases within transmission networks. In addition, other products can be used to regulate flow and on/off service. MRC's other products, which include pipe, steel fitting, and tubular goods, are used across all of the industries in which the company operates. Specialized services are delivered alongside this array of products to enhance the client relationship.

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MRC Global announced a $125 million share repurchase program, boosting premarket stock gains. The initiative, running through January 2028, aligns with the company&#39;s focus on operational efficiency and shareholder value.

Infrastructure Products Distributor MRC Global Plans Stock Buyback; Shares Climb

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Earnings

CORRECTION: MRC Global Has Not Yet Reported Earnings

<h3>Companies Reporting Before The Bell</h3>
• Royalty Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPRX#NASDAQ">RPRX</a>) is estimated to report quarterly earnings at $1.05 per share on revenue of $743.60 million. 
• AutoNation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AN#NYSE">AN</a>) is likely to report quarterly earnings at $4.26 per share on revenue of $6.81 billion. 
• Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is estimated to report quarterly loss at $2.12 per share on revenue of $28.84 billion. 
• Carrier Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $5.20 billion. 
• DuPont de Nemours (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DD#NYSE">DD</a>) is projected to report quarterly earnings at $0.98 per share on revenue of $3.07 billion. 
• BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $45.65 billion. 
• Yatra Online (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YTRA#NASDAQ">YTRA</a>) is projected to report quarterly earnings at $0.01 per share on revenue of $15.02 million. 
• NNN REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNN#NYSE">NNN</a>) is estimated to report quarterly earnings at $0.82 per share on revenue of $217.60 million. 
• OrganiGram Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) is projected to report quarterly loss at $0.03 per share on revenue of $48.93 million. 
• Arvinas (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARVN#NASDAQ">ARVN</a>) is estimated to report quarterly loss at $1.04 per share on revenue of $59.49 million. 
• Orion Energy Sys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OESX#NASDAQ">OESX</a>) is expected to report quarterly loss at $0.01 per share on revenue of $26.52 million. 
• Jerash Holdings (US) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JRSH#NASDAQ">JRSH</a>) is expected to report quarterly loss at $0.01 per share on revenue of $37.65 million. 
• Ceragon Networks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRNT#NASDAQ">CRNT</a>) is projected to report quarterly earnings at $0.10 per share on revenue of $105.16 million. 
• SolarWinds (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWI#NYSE">SWI</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $202.91 million. 
• Curbline Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CURB#NYSE">CURB</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $28.88 million. 
• IPG Photonics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPGP#NASDAQ">IPGP</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $229.47 million. 
• LCI Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LCII#NYSE">LCII</a>) is projected to report quarterly earnings at $0.31 per share on revenue of $799.81 million. 
• Sequans Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQNS#NYSE">SQNS</a>) is likely to report quarterly loss at $0.07 per share on revenue of $10.50 million. 
• Sunoco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUN#NYSE">SUN</a>) is likely to report quarterly earnings at $1.34 per share on revenue of $5.92 billion. 
• WK Kellogg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KLG#NYSE">KLG</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $650.00 million. 
• Fidelity National Info (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FIS#NYSE">FIS</a>) is projected to report quarterly earnings at $1.36 per share on revenue of $2.63 billion. 
• Marriott Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) is likely to report quarterly earnings at $2.36 per share on revenue of $6.39 billion. 
• MYT Netherlands Parent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MYTE#NYSE">MYTE</a>) is expected to report quarterly earnings at $0.06 per share on revenue of $217.77 million. 
• Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $2.73 billion. 
• WESCO Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WCC#NYSE">WCC</a>) is expected to report quarterly earnings at $3.23 per share on revenue of $5.42 billion. 
• TPG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TPG#NASDAQ">TPG</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $463.18 million. 
• USA Compression Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USAC#NYSE">USAC</a>) is expected to report quarterly earnings at $0.27 per share on revenue of $242.95 million. 
• S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) is projected to report quarterly earnings at $3.41 per share on revenue of $3.46 billion. 
• Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is expected to report quarterly earnings at $0.52 per share on revenue of $10.70 billion. 
• Leidos Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDOS#NYSE">LDOS</a>) is projected to report quarterly earnings at $2.27 per share on revenue of $4.13 billion. 
• Masco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>) is estimated to report quarterly earnings at $0.87 per share on revenue of $1.84 billion. 
• GLOBALFOUNDRIES (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $1.83 billion. 
• Ecolab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECL#NYSE">ECL</a>) is expected to report quarterly earnings at $1.81 per share on revenue of $4.03 billion. 
<h3>Companies Reporting After The Bell</h3>
• Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) is likely to report quarterly earnings at $1.70 per share on revenue of $7.15 billion. 
• Monarch Casino &amp; Resort (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCRI#NASDAQ">MCRI</a>) is projected to report quarterly earnings at $1.06 per share on revenue of $129.03 million. 
• Avis Budget Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) is projected to report quarterly loss at $1.03 per share on revenue of $2.73 billion. 
• Franklin Street Props (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/FSP#AMEX">FSP</a>) is projected to report quarterly loss at $0.07 per share on revenue of $30.83 million. 
• Edwards Lifesciences (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) is projected to report quarterly earnings at $0.55 per share on revenue of $1.49 billion. 
• Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) is projected to report quarterly earnings at $0.63 per share on revenue of $5.78 billion. 
• Evolution Petroleum (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EPM#AMEX">EPM</a>) is likely to report quarterly earnings at $0.02 per share on revenue of $22.73 million. 
• Bioceres Crop Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOX#NASDAQ">BIOX</a>) is expected to report quarterly earnings at $0.15 per share on revenue of $144.62 million. 
• Genasys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNSS#NASDAQ">GNSS</a>) is projected to report quarterly loss at $0.16 per share on revenue of $6.59 million. 
• Everus Construction Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECG#NYSE">ECG</a>) is expected to report earnings for its fourth quarter. 
• United Fire Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFCS#NASDAQ">UFCS</a>) is likely to report quarterly earnings at $0.66 per share on revenue of $327.70 million. 
• Tigo Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TYGO#NASDAQ">TYGO</a>) is estimated to report quarterly loss at $0.16 per share on revenue of $15.62 million. 
• HIVE Digital Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIVE#NASDAQ">HIVE</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $28.48 million. 
• Atomera (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATOM#NASDAQ">ATOM</a>) is likely to report quarterly loss at $0.14 per share on revenue of $500 thousand. 
• Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) is projected to report quarterly loss at $1.38 per share on revenue of $14.11 million. 
• Exelixis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXEL#NASDAQ">EXEL</a>) is expected to report quarterly earnings at $0.48 per share on revenue of $562.72 million. 
• Forrester Res (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FORR#NASDAQ">FORR</a>) is projected to report quarterly earnings at $0.34 per share on revenue of $106.25 million. 
• BlackLine (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BL#NASDAQ">BL</a>) is projected to report quarterly earnings at $0.50 per share on revenue of $168.10 million. 
• Primerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRI#NYSE">PRI</a>) is likely to report quarterly earnings at $4.90 per share on revenue of $766.63 million. 
• Allison Transmission (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALSN#NYSE">ALSN</a>) is likely to report quarterly earnings at $1.91 per share on revenue of $765.40 million. 
• Electromed (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ELMD#AMEX">ELMD</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $15.30 million. 
• W.P. Carey (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WPC#NYSE">WPC</a>) is estimated to report quarterly earnings at $1.20 per share on revenue of $397.32 million. 
• Sensata Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ST#NYSE">ST</a>) is estimated to report quarterly earnings at $0.75 per share on revenue of $883.43 million. 
• Pitney Bowes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBI#NYSE">PBI</a>) is projected to report quarterly earnings at $0.14 per share on revenue of $509.65 million. 
• America Movil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMX#NYSE">AMX</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $12.27 billion. 
• Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>) is expected to report quarterly earnings at $1.02 per share on revenue of $3.13 billion. 
• Adaptive Biotechnologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADPT#NASDAQ">ADPT</a>) is expected to report quarterly loss at $0.24 per share on revenue of $45.84 million. 
• Anterix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATEX#NASDAQ">ATEX</a>) is expected to report quarterly loss at $0.61 per share on revenue of $1.88 million. 
• IAC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAC#NASDAQ">IAC</a>) is likely to report quarterly earnings at $0.39 per share on revenue of $934.31 million. 
• Mercury General (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) is estimated to report quarterly earnings at $0.64 per share on revenue of $1.23 billion. 
• American Intl Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) is expected to report quarterly earnings at $1.53 per share on revenue of $6.70 billion. 
• Diodes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DIOD#NASDAQ">DIOD</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $337.10 million. 
• Lyft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>) is projected to report quarterly loss at $0.01 per share on revenue of $1.55 billion. 
• Zillow Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZG#NASDAQ">ZG</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $532.04 million. 
• Zillow Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/Z#NASDAQ">Z</a>) is estimated to report quarterly earnings at $0.27 per share on revenue of $533.26 million. 
• Teradata (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDC#NYSE">TDC</a>) is projected to report quarterly earnings at $0.44 per share on revenue of $417.67 million. 
• DoubleDown Interactive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDI#NASDAQ">DDI</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $85.54 million. 
• Similarweb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMWB#NYSE">SMWB</a>) is likely to report quarterly earnings at $0.03 per share on revenue of $65.48 million. 
• OneStream (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OS#NASDAQ">OS</a>) is likely to report quarterly earnings at $0.02 per share on revenue of $128.13 million. 
• MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) is projected to report quarterly earnings at $0.08 per share on revenue of $726.90 million. 
• Mirion Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MIR#NYSE">MIR</a>) is estimated to report quarterly earnings at $0.15 per share on revenue of $245.02 million. 
• Upstart Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) is estimated to report quarterly loss at $0.04 per share on revenue of $181.92 million. 
• Welltower (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WELL#NYSE">WELL</a>) is projected to report quarterly earnings at $1.12 per share on revenue of $2.12 billion. 
• Silvercorp Metals (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SVM#AMEX">SVM</a>) is expected to report quarterly earnings at $0.10 per share on revenue of $80.90 million. 
• Kite Realty Gr Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRG#NYSE">KRG</a>) is projected to report quarterly earnings at $0.53 per share on revenue of $209.12 million. 
• Gladstone Cap (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLAD#NASDAQ">GLAD</a>) is likely to report quarterly earnings at $0.53 per share on revenue of $24.40 million. 
• InvenTrust Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVT#NYSE">IVT</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $71.16 million. 
• Angi (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANGI#NASDAQ">ANGI</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $254.21 million. 
• Energy Transfer (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ET#NYSE">ET</a>) is projected to report quarterly earnings at $0.38 per share on revenue of $21.43 million. 
• Red Rock Resorts (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRR#NASDAQ">RRR</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $491.36 million. 
• Assurant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIZ#NYSE">AIZ</a>) is likely to report quarterly earnings at $3.51 per share on revenue of $3.08 billion. 
• Acadia Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AKR#NYSE">AKR</a>) is likely to report quarterly earnings at $0.33 per share on revenue of $83.33 million. 
• Brighthouse Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHF#NASDAQ">BHF</a>) is estimated to report quarterly earnings at $4.58 per share on revenue of $2.22 billion. 
• Highwoods Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) is projected to report quarterly earnings at $0.86 per share on revenue of $203.87 million. 
• Freshworks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSH#NASDAQ">FRSH</a>) is estimated to report quarterly earnings at $0.10 per share on revenue of $189.30 million. 
• DoorDash (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $2.84 billion. 
• Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is projected to report quarterly earnings at $1.03 per share on revenue of $156.13 million. 
• Confluent (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CFLT#NASDAQ">CFLT</a>) is expected to report quarterly earnings at $0.06 per share on revenue of $256.84 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For February 11, 2025

The company is delaying the release of its financial results to allow additional time to complete year-end audit procedures specifically related to inventory cycle counts, including physical inventory procedures. The company expects to file its Form 10-K for the year ended December 31, 2024 on or before March 3, 2025.

Reported Earlier, MRC Global Reschedules Q4 And FY 2024 Earnings Release, New Date To Be Announced

MRC Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) shares are trading higher premarket on Friday. The company has announced a new $125 million share repurchase program, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/g42782440/mrc-global-announces-125-million-share-repurchase-program" rel="noreferrer noopener">set to run through January 2, 2028.</a>
The company plans to repurchase its common shares through various methods, including open market transactions, block purchases, and privately negotiated deals, all in compliance with federal securities laws.
MRC Global expects to commence share repurchases in the second quarter of 2025. The management will determine the timing, volume, and method of repurchases based on market conditions, stock performance, and other business considerations.
&#8220;Our streamlined capital structure, efficient operating model, and anticipated ability to deliver consistent cash flow generation make this the right time to introduce a share repurchase program,&#8221; said President and CEO Rob Saltiel.
Saltiel further highlighted the company's three-pronged capital allocation strategy, which includes maintaining a net debt leverage ratio below 1.5x, returning capital to shareholders, and investing in growth initiatives.
The company held $62 million in cash and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41758199/mrc-global-announces-third-quarter-2024-results" rel="noreferrer noopener">equivalents as of September 30, 2024</a>.
In October, the company secured a new $350 million Senior Secured <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41610954/mrc-global-simplifies-capital-structure-by-securing-new-350-million-term-loan-b-and-repurchasing-c" rel="noreferrer noopener">Term Loan &#8220;B&#8221; maturing in 2031</a>.
Price Action: MRC shares are trading higher by 3.47% at $13.13 in premarket on the last check Friday.
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Image: Shutterstock/ bangoland.

MRC Global Plans New $125M Share Repurchase Program, Which Expires On January 2, 2028

U.S. stock futures were lower this morning, with the Dow futures falling more than 50 points on Monday.
Shares of Axsome Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AXSM#NASDAQ">AXSM</a>) fell sharply in today's pre-market trading after the announced completion and results of Phase 3 clinical program of AXS-05 in Alzheimer&#8217;s Disease Agitation.
Axsome Therapeutics shares fell 8.9% to $79.00 in the pre-market trading session.
Here are some other stocks moving lower in pre-market trading.
<ul>
<li>Intchains Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NASDAQ">ICG</a>) fell 10.3% to $8.37 in pre-market trading after jumping 53% on Friday.</li>
<li>MRC Global Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) shares dipped 9.7% to $11.41 in pre-market trading. MRC Global will release its fourth quarter results after the closing bell on Feb. 11, 2025.</li>
<li>Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>) fell 7.8% to $10.21 in pre-market trading.</li>
<li>CARGO Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGX#NASDAQ">CRGX</a>) shares declined 7.4% to $13.10 in pre-market trading following a 5% decline on Friday.</li>
<li>Arqit Quantum Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQQ#NASDAQ">ARQQ</a>) fell 7.4% to $39.53 in pre-market trading.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) dipped 6.7% to $8.47 in pre-market trading after gaining around 4% on Friday.</li>
<li>Pediatrix Medical Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MD#NYSE">MD</a>) shares slipped 6.5% to $12.61 in pre-market trading after declining around 1.8% on Thursday.</li>
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As a result of the expected sale, a pre-tax, non-cash loss on discontinued operations of approximately&nbsp;US&nbsp;$25 million&nbsp;is expected to be recorded in the&nbsp;fourth quarter&nbsp;of 2024. The sale is anticipated to close in the first half of 2025 following customary closing conditions and required Canadian regulatory approval. The company plans to use the proceeds for reduction of debt.

Asset Sales

MRC Global Subsidiary MRC Global (Canada) ULC Enters Definitive Deal To Sell Its Canada Operations To Emco; No Terms Disclosed

Susquehanna analyst Charles Minervino maintains MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) with a Positive and raises the price target from $16 to $17.

Price Target

Analyst Ratings

Susquehanna Maintains Positive on MRC Global, Raises Price Target to $17

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Shares of industrial distribution companies are trading higher. Investors may be weighing the potential impact of Donald Trump's policies on the sector.

She succeeds Robert Wood, previous Chairman of the Board, who has retired from the board for personal reasons.&nbsp;

Management

MRC Global Names Deborah Adams As Its New Board Chair, Effective Immediately

MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.20 by 10 percent. The company reported quarterly sales of $797.000 million which beat the analyst consensus estimate of $794.160 million by 0.36 percent. This is a 10.25 percent decrease over sales of $888.000 million the same period last year.

Earnings Beats

MRC Global Q3 2024 Adj. EPS $0.22 Beats $0.20 Estimate, Sales $797.000M Beat $794.160M Estimate

Stifel analyst Nathan Jones maintains MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) with a Buy and raises the price target from $14 to $15.

Stifel Maintains Buy on MRC Global, Raises Price Target to $15

<div>The company expects Adjusted EBITDA of approximately&nbsp;$48&nbsp;million, or&nbsp;6.0%&nbsp;of sales.&nbsp;Cash flow from operations of approximately&nbsp;$95 million.</div>

Guidance

MRC Global Reports Q3 Preliminary Revenue Of $797M (Est $806.22M)

The company has agreed to repurchase all 363,000 shares of its&nbsp;6.50%&nbsp;Series&nbsp;A Convertible Perpetual Preferred Stock as part of an agreement with Mario Investments, LLC, the holder of the preferred stock, which is contingent upon, among other things, the completion of a successful term loan financing.
In order to finance the repurchase of the preferred stock, MRC Global is launching later today a&nbsp;$350 million&nbsp;Term Loan B financing with an expected term of seven years.&nbsp;
&nbsp;

MRC Global Agrees To Repurchase Preferred Stock, Launches $350M Term Loan B Financing To Fund Repurchase

Susquehanna analyst Charles Minervino maintains MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) with a Positive and maintains $16 price target.

Susquehanna Maintains Positive on MRC Global, Maintains $16 Price Target

MRC Global Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mrc#NYSE">MRC</a>) recently announced that its subsidiary, MRC Global (US) Inc., has secured a contract from ExxonMobil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>). Per the deal, MRC Global to serve as the primary supplier of pipe, valves and fitting (PVF) products and services to ExxonMobil in North America. 
MRC Global&#39;s shares declined 2.1% yesterday, ending the trading session at $12.46. 
Based in Spring, TX, ExxonMobil is a leading explorer and producer of crude oil and natural gas in the United States and globally. The company operates its businesses under the four segments, which are Upstream, Energy Products, Chemical Products and Specialty Products.
<h3>Inside the Headlines</h3>
Per the deal, MRC will provide PVF products and related services across all of XOM&#39;s upstream and downstream facilities in North America. As noted, this will support ExxonMobil&#39;s global projects and maintenance, repair and operations. 
The deal will also enable XOM to streamline and boost its PVF supply chain in North America and leverage its scale across its booming business in the region.
<h3>Zacks Rank &amp; Price Performance</h3>
MRC Global, with a $1.1 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is likely to benefit from strength in the DIET (Downstream, Industrial and Energy Transition) sector, driven by an increase in energy transition activities in the United States. Also, an increase in refining, chemical and mining customer projects bode well.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/d6/68875.jpg?v=297257681" /> 
Image Source: Zacks Investment Research
The company&#39;s shares have gained 2.4% against the industry&#39;s 9.6% decline in the past three months. 
The Zacks Consensus Estimate for MRC&#39;s 2024 earnings per share is pegged at 95 cents, down 5% over the past 60 days. It has a trailing four-quarter average earnings surprise of 40.1%.
<h3>Key Picks</h3>
A couple of better-ranked companies from the same space are discussed below. 
Valmont Industries (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmi#NYSE">VMI</a>) presently sports a Zacks Rank of 1 (Strong Buy). 
It has a trailing four-quarter average earnings surprise of 13%. The consensus estimate for VMI&#39;s 2024 earnings has improved 6.9% in the past 60 days. 
Mueller Water Products (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mwa#NYSE">MWA</a>) presently carries a Zacks Rank of 2 (Buy). MWA delivered a trailing four-quarter earnings surprise of 51.8%, on average. 
The Zacks Consensus Estimate for MWA&#39;s fiscal 2024 (ending September 2024) earnings has risen 14.5% in the past 60 days.
<a href="https://www.zacks.com/stock/news/2288518/mrc-global-mrc-gets-pvf-deal-from-exxonmobil-in-north-america?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2288518">To read this article on Zacks.com click here.</a>

Small Cap

MRC Global Gets PVF Deal From ExxonMobil in North America

The agreement includes all of ExxonMobil&#39;s North America upstream and downstream facilities for maintenance, repair and operations as well as project work.

Contracts

MRC Global Inks Agreement To Be The Primary Provider Of Pipe, Valves And Fitting Products And Services To ExxonMobil In North America; No Terms Dsiclosed

Susquehanna analyst Charles Minervino maintains MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) with a Positive and raises the price target from $15 to $16.

Susquehanna Maintains Positive on MRC Global, Raises Price Target to $16

MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) reported quarterly earnings of $0.20 per share which beat the analyst consensus estimate of $0.14 by 42.86 percent. This is a 37.5 percent decrease over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $806.000 million which beat the analyst consensus estimate of $760.760 million by 5.95 percent. This is a 8.93 percent decrease over sales of $885.000 million the same period last year.

MRC Global Q1 2024 Adj EPS $0.20 Beats $0.14 Estimate, Sales $806.000M Beat $760.760M Estimate

Susquehanna analyst Charles Minervino maintains MRC Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRC#NYSE">MRC</a>) with a Positive and raises the price target from $13 to $15.

Susquehanna Maintains Positive on MRC Global, Raises Price Target to $15

Press Releases

MRC Global Announces Third Quarter 2024 Results

MRC Global Announces New Board Chair

Financing

MRC Global Announces Closing of $750 Million Asset-Based Loan Facility

MRC Global Announces Sale of Canada Business

MRC Global Announces Fourth Quarter and Full Year 2024 Earnings Release, Conference Call and Webcast Schedule

MRC Global Announces $125 Million Share Repurchase Program

MRC Global Postpones Earnings Release, Conference Call and Webcast

Securities Fraud Investigation Into MRC Global Inc. (MRC) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

MRC Global Inc. (MRC) Investors Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation

Securities Fraud Investigation Into MRC Global Inc. (MRC) Announced – Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm

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