MRC: 4Q Earnings Snapshot
HOUSTON (AP) _ MRC Global Inc. (MRC) on Thursday reported fourth-quarter net income of $10 million.
The Houston-based company said it had net income of 4 cents per share. Earnings, adjusted for restructuring costs, were 7 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The energy products distributor posted revenue of $1.01 billion in the period, meeting Street forecasts.
For the year, the company reported profit of $74 million, or 54 cents per share. Revenue was reported as $4.17 billion.
MRC shares have climbed 33 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.28, a decline of nearly 4 percent in the last 12 months.