MRC: 2Q Earnings Snapshot
HOUSTON (AP) _ MRC Global Inc. (MRC) on Wednesday reported second-quarter profit of $22 million.
The Houston-based company said it had profit of 17 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The energy products distributor posted revenue of $1.08 billion in the period, which met Street forecasts.
MRC shares have increased 34 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.60, an increase of 38 percent in the last 12 months.