Built Strong.

After two years of growth, energy markets slowed in 2019. While the pullback prompted lower year-over-year revenue for MRC Global, we stayed the course by pursuing our goals, and our company is solid. We know that market cycles are inevitable. We’ve seen this before. That’s why we created a long-term strategy that is unwavering in both peaks and valleys and allows us to control our own destiny. MRC Global is built strong.

We’ve built
our business for
strength in any cycle.

The four tenets of our strategy are constant pillars of strength.
Increase Market Share
Maximize Profitability
Maximize Working
Capital Efficiency
Optimize Capital Structure

While many in our industry are forced to react dramatically to market conditions, MRC Global is solid and able to gain ground, because our strategy is built for long-term value. In the face of 2019’s challenges, we were able to remove costs from the business, invest in infrastructure and technology for future growth, and strengthen our customer base.

The Houston Operations Complex is equipped with advanced automated conveyor systems, allowing us to ship approximately 148 tons per day to our customers.

We’ve built resilience
against commodity
price risks.

MRC Global has
secured contracts

with 18 of the top
25 largest gas
utilities in the U.S.
U.S. Gas Utility Reserve

While MRC Global has served customers in the upstream and downstream sectors for a long time, we have built our business to buffer the volatility of oil prices. In 2019, we continued to strengthen our base of customers in the more stable gas utilities sector. MRC Global is the preferred supplier to 18 of the top 25 gas utilities in the United States, as we continue to expand this business.

MRC Global is one of the largest distributors to gas utility companies in the United States. Our solutions include all energy products required by gas utility customers.

We’ve built modern facilities to offer
higher-margin
products.

In 2019, valve sales accounted for 39% of our revenue, on-track to reach our goal of 45% by 2023.
2019 VAMI Sales

In 2019, we opened our 127,000 square-foot Valve Engineering and Modification Center, completing our state-of-the-art Houston Operations Complex. This investment allows us to broaden our offering, serve our customers more efficiently, and pursue our goal to migrate MRC Global’s revenue base toward higher-margin products and solutions.

At our new Valve Engineering and Modification Center, a large double block and bleed expanding plug valve undergoes an extended duration hydrotest before delivery to a pipeline installation.

We’ve built relationships
with the largest energy companies in the world.

In 2019 we secured
new and renewed contracts, collectively representing 40 years of commitments.
2019 New and Renewed Customer Contracts
  • Atmos
  • CenterPoint
  • Chevron-Canada
  • ConocoPhillips
  • EnLink Midstream
  • INEOS
  • Neste Finland
  • ONEOK
  • Southern California Gas
  • Tengizchevroil-MRO

One of the primary reasons MRC Global remains strong in all market environments is our diverse customer base. We continually work with the best and most committed operators in all facets of the energy sector. They count on our service, product availability, and expertise to bring the reliability they need to accomplish their goals.

An MRC Global employee reviews an order of valves before they ship to a customer. Year after year we continue to grow our expertise and offering in the profitable valve category.

We’ve built online tools
to serve more customers more ways.

We have continued to improve our digital platform, delivering greater efficiencies to our customers.
mrcgo
E-Commerce Revenue Growth Opportunity
$794 2019
$1,600 2023 - 2025

We have continually built out our digital platform, MRCGO™, adding robust functionality to help customers accomplish more tasks, get faster support and, in turn, become more efficient.

Through MRCGO™, our customers can do business with us more ways than ever. From their desktop, tablet or mobile device, they can now place orders, review order history, view real-time inventory levels, and get live help on demand.

We’ve built upon our
commitment to Environmental, Social and Governance initiatives.

Our ongoing efforts validate our vision
for a safer, more sustainable future.
mrc global
We have developed a series of standards that are intended to deliver common work practices across our company, with a focus on preventing high-consequence safety incidents.

In 2019, we published our second annual ESG report. Our ESG initiatives send a strong message to our customers that we are aligned with them and can help them achieve their own goals for a safe, responsible and sustainable future.


“We know that the primary way we can improve our environmental performance is to do what we do best – create an efficient supply chain.”

Andrew R. Lane President & CEO

While we strive to achieve top levels of excellence in every facet of our business, safety is our absolute highest priority. Daily safety meetings are essential to our culture.

We’ve built strength
into our balance
sheet year after year.

Financial discipline
is our foundation.
cash flow from operations

When markets slowed in 2019, we reinforced our balance sheet to sustain our focus on long-term goals. As we did in previous downturns, we carefully managed our working capital, stock purchases, debt levels and product margins. All of these measures continued to strengthen our balance sheet and keep MRC Global positioned for profitable growth.

MRC Global quality experts inspect valves for a major gas utility customer. In 2019 we continued to build out our base of business in the stable gas utilities sector.