MRC: 3Q Earnings Snapshot
HOUSTON (AP) _ MRC Global Inc. (MRC) on Wednesday reported third-quarter net income of $24 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Houston-based company said it had profit of 20 cents.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The energy products distributor posted revenue of $1.07 billion in the period, also falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.11 billion.
MRC shares have declined almost 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.