MRC Global ( NYSE: MRC ) +7.3% post-market Thursday after boosting sales guidance for the full year to $3.3B , up from previous guidance of $3.1B, which would represent a 24% Y/Y increase; Wall Street analyst consensus called for $3.14B in revenues.
The company also sees FY 2022 adjusted EBITDA $230M, above earlier guidance of $200M, which would be a 58% gain over 2021, and adjusted EBITDA as a percentage of sales at ~7%, up from prior guidance of 6.5%, and a 150 bps improvement over 2021.
MRC Global ( MRC ) also expects to see a 14% Q/Q increase in Q2 sales, compared to the prior outlook for high single-digit improvement, led by greater than expected increases in the Gas Utilities and Downstream, Industrial and Energy Transition sectors.
In Q1, MRC Global ( MRC ) reported Q1 adjusted earnings of $0.17/share on $742M in revenues .
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MRC Global rallies after raising full-year revenue forecast to $3.3B