Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, reported third-quarter sales of $585 million, down 38% from the same period a year ago. The company reported a loss of $3 million, compared to a profit of $15 million last year.
In the third quarter, U.S. sales were down 39% year-over-year to $463 million, Canadian sales were down 53% to $27 million and international sales were down 22% to $95 million.
For the first nine months, MRC sales were $2 billion, a 31.6% decrease from the same period a year ago. The company reported a loss of $287 million, compared to a profit of $45 million last year.
Photo courtesy GKW Architects Inc.