MRC Global Q3 Profit Declines - Quick Facts

(RTTNews) - MRC Global Inc. (MRC) reported net income for the third quarter of $38.8 million or $0.38 per share, compared to $55.5 million or $0.54 per share for the year-ago quarter.

Adjusted net income for the latest third quarter declined to $41.3 million, or $0.40 per share, from $62.1 million, or $0.61 per share in the comparable quarter last year.

Sales for the current quarter declined 9.5% to $1.31 billion from $1.45 billion in the year-ago quarter.

Analysts polled by Thomson Reuters expected the company to earn $0.45 per share on revenue of $1.32 billion for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the full year 2013, the company expects earnings of $1.65 to $1.85 per share and revenue of $$5.16 billion to $5.30 billion. Analysts currently expect the company to earn $1.73 per share on revenue of $5.19 billion for the full year 2013.

Earlier, the company expected revenue of $$5.10 billion to $5.30 billion.