Fluid and gas handling company MRC (NYSE: MRC) will be reporting earnings tomorrow morning. Here’s what you need to know.
MRC Global met analysts’ revenue expectations last quarter, reporting revenues of $797 million, down 10.2% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ EPS estimates but a significant miss of analysts’ adjusted operating income estimates.
Is MRC Global a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting MRC Global’s revenue to decline 5.4% year on year to $726.9 million, improving from the 11.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.08 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MRC Global has missed Wall Street’s revenue estimates four times over the last two years.
Looking at MRC Global’s peers in the industrial distributors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. DistributionNOW delivered year-on-year revenue growth of 2.9%, beating analysts’ expectations by 3.4%, and Watsco reported revenues up 9.4%, topping estimates by 5.3%. DistributionNOW traded up 21.5% following the results while Watsco was also up 5.4%.
Read our full analysis of DistributionNOW’s results here and Watsco’s results here.
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