2024-06-11 04:36:37 ET
Summary
- MRC is undervalued and has strong long-term growth prospects, but is facing issues like destocking and flat growth expectations for FY24.
- MRC distributes infrastructure products and services to diverse end-markets, with a strong presence in the gas utilities sector.
- Recent financial performance has been poor, with declining sales and net income. However, these issues are expected to be temporary.
Thesis
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MRC Global: Temporary Short-Term Issues But Strong Long-Term Growth Prospects