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In Q2, MRC Global digital commerce accounted for 51.6% of all sales of $871 million. They also accounted for 64.3% ($545.3 million) of U.S. sales of $727 million.

It was a mediocre quarter at best for the period of April though June for MRC Global, a 100-year-old distributor of pipes, valves, and fittings (PVF) and other products and services to the energy industry.

For the second quarter ended June 30, MRC posted sales of $871 million. That’s up 3% from sales of $848 million in the second quarter of 2022. Net income was $24 million, compared with $14 million in the second quarter the prior year.

MRC Global digital commerce sales

In Q2, MRC Global’s digital commerce accounted for 51.6% of all sales. MRC Global digital sales also accounted for 64.3% ($545.3 million) of U.S. sales of $727 million. In the prior year, ecommerce accounted for 48% of sales. MRC Global did not break out a U.S. metric for online sales for the second quarter of 2022.

Based on the metrics for overall sales, Digital Commerce 360 projects that ecommerce for MRC grew increased 10.4 % to $449.4 million from $407.0.

“Our second quarter results delivered revenue growth over last year, better-than-expected cash flow generation and strong adjusted gross profit margins,” says MRC Global CEO Rob Saltiel. “We expanded our revenue backlog in the quarter, aided by gains in our International segment and our DIET sector.”

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MRC Global earnings

For the fiscal second quarter ended June 30, 2023, MRC reported:

  • $871 million in total sales. That’s up 3% from $848 million in Q2 2022.
  • Net income was $24 million, up from $14 million in the year-ago period.
  • MRC Global digital commerce accounted for 51.6% of all sales. In the previous year, MRC Global ecommerce accounted for 48% of sales.

Percentage changes may not align exactly with dollar figures due to rounding. Check back for more earnings reports.

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