2023-04-24 08:02:55 ET
MRC Global ( NYSE: MRC ) disclosed preliminary Q1 results Monday, expecting $885M in revenues, above $848M analyst consensus estimate.
MRC ( MRC ) also expects to report Q1 net income of $33M, adjusted EBITDA of $69M, and adjusted gross profit of $188M, as well as full-year cash flow from operations of at least $120M.
The company said its "strong" Q1 performance "provides increasing confidence in the outlook for the full year."
MRC ( MRC ) also said it is launching an effort to amend, extend and refinance in full its $295M in outstanding principal amount under its existing senior secured Term Loan B, scheduled to mature in September 2024.
MRC Global ( MRC ) previously reported better than expected Q4 GAAP earnings of $0.18/share on revenues of $869M .
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MRC Global expects above-consensus Q1 sales of $885M