At MRC Global, we know pipe, valves and fittings (PVF) like no other company. From our earliest days, PVF has been our company’s focus. Our unwavering dedication to serving customers in this family of products has fueled our reputation as an industry leader and has made us the largest global distributor of PVF and related offerings across the energy sector. We hold this leading position in upstream, midstream and downstream, and we’re proud that every year our expertise continues to earn the confidence of customers around the world.
Our Differentiated Value Proposition
MRC Global takes a disciplined approach to its business on multiple fronts. Our scale and strength of balance sheet differentiates MRC Global and gives us the stability to withstand down cycles and the resources to continually grow.
Strong record of winning new customers and expanding existing relationships resulting in growth
Driving enhanced profitability and return on capital through operational efficiencies, disciplined cost management and product portfolio optimization
Solid history of strategic acquisitions in advantageous geographies, sectors and product lines
Active balance sheet management and robust cash flow create financial flexibility and capital allocation opportunities
While our product offering encompasses thousands of pipe, valve and fitting SKUs, what we really provide are supply chain solutions. We have strategically built our expertise, inventory and distribution network to help our customers solve challenges and accomplish their goals anywhere in the world.
In 2017 we continued to defend and expand our leading market position. MRC Global secured new multi-year agreements and extended existing contracts with a number of prominent customers, from the world’s leading integrated oil companies (IOCs) to regional independents.
Many of our largest customers have multinational operations. Our international strategy has always been to develop the global resources to service them, making MRC Global the PVF supply chain partner they can count on anywhere they need us. Our global reach includes sourcing material, qualifying manufacturers and simplifying the supply chain for our customers.
MRC Global provides customers with a broad range of valve and automation solutions. As one of our highest margin product categories, which includes value added services, we have strategically shifted our portfolio to make valves, automation, measurement and instrumentation our largest product offering.
In 2017 MRC Global announced plans for a new regional distribution center to serve our growing business in the Gulf Coast region of the U.S. The Houston facility will be our largest regional distribution center (RDC) and includes a state-of-the-art valve and engineering center (VEC) to house valve actuation and testing capabilities.
MRC Global supplies pipe to customers in all sectors, particularly for projects related to the pipeline build-out in the United States necessitated by the shale revolution. We also have global expertise supplying pipe. In 2017 we delivered our largest international pipe order ever for a customer in Australia.
Across the energy Vertical
MRC Global is built for balance in all facets of its business. We serve customers across the energy space and across the globe. We are well weighted across our product and service offerings, including integrated supply and quality assurance.
As part of our ongoing strategy to migrate our product mix to higher-margin products, MRC Global offers a full line of higher alloy and stainless steel pipe, fittings and flanges. These products provide the performance our downstream and offshore customers need in critical process applications.
Smart Fiscal Management
During the downturn we controlled costs and managed our working capital with great vigilance, and we are now seeing the fruits of our labors. In 2017 we held expenses steady while our revenue increased 20 percent. Our discipline was well founded, and we believe we have set the stage for ongoing improved profitability.
|Net Income Attributable to Common Stockholders||($26 Million)|
|Adjusted EBITDA (1)||$179 Million|
|EPS - Diluted||($0.27)|
|Working Capital||$756 Million|
|Total Assets||$2,340 Million|
MRC Global connects to customers in unique ways to ensure we are always serving their specific needs – a clear differentiator for our company. We have invested in robust technology solutions that allow efficient customer connections, including MRCGO™, our online catalog that makes it easy for customers to place and manage their orders.
Standing Strong Through the storm
More than 50 of our employees and their families suffered damage to their homes during Hurricane Harvey. We supported them in the aftermath, and they supported MRC Global. Our team pulled together to get our facilities operational as quickly as possible, so we could continue to serve our customers as the industry began its own recovery. MRC Global donated $150,000 to recovery efforts.
We have built strong bonds with our customers, suppliers and within the MRC Global family. We are steadfast partners in good times and bad. In 2017 we supported our customers, employees and communities affected by one of the worst hurricane seasons on record.