MRC: 2Q Earnings Snapshot
HOUSTON (AP) _ MRC Global Inc. (MRC) on Thursday reported second-quarter profit of $24 million.
The Houston-based company said it had profit of 21 cents per share.
The results missed 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 $984 million in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $1.04 billion.
MRC expects full-year earnings to be 75 cents to 95 cents per share, with revenue in the range of $3.85 billion to $4.05 billion.
MRC shares have risen 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.64, a drop of 35% in the last 12 months.