MRC Global Q1 Profit Declines - Quick Facts

(RTTNews) - MRC Global Inc. (MRC) reported first-quarter net income of $23.5 million, or $0.23 per share, compared to $46.2 million, or $0.45 per share, last year. Adjusted earnings per share for the first quarter of 2014 was $0.28.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.

Sales for the latest first quarter were $1.31 billion, unchanged from the first quarter of 2013. Analysts expected revenue of $1.29 billion for the quarter.

MRC Global continues to expect full year 2014 sales, excluding the impact of any future acquisitions, in the range of $5.5 billion to $5.8 billion. Analysts expect the company to report full year 2014 revenues of $5.66 billion.