MRC Global Reports Full Year and Fourth Quarter 2023 Results
MRC Global’s fourth quarter 2023 gross profit was $153 million, or 19.9% of sales, as compared to gross profit of $158 million, or 18.2% of sales, in the fourth quarter of 2022.
- MRC Global’s fourth quarter 2023 gross profit was $153 million, or 19.9% of sales, as compared to gross profit of $158 million, or 18.2% of sales, in the fourth quarter of 2022.
- The company’s sales were $768 million for the fourth quarter of 2023, 12% lower than the fourth quarter of 2022 and a 14% decline from the third quarter of 2023.
- U.S. sales in the fourth quarter of 2023 were $633 million, a $87 million, or 12%, decrease from the same quarter in 2022.
- Gas Utilities sales in the fourth quarter of 2023 were $253 million, or 33% of total sales, a decline of $66 million, or 21%, from the fourth quarter of 2022 driven by the U.S. segment.