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.
our business for
strength in any cycle.
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.
We’ve built resilience
with 18 of the top
25 largest gas
utilities in the U.S.
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.
We’ve built modern facilities to offer
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.
We’ve built relationships
with the largest energy companies in the world.
new and renewed contracts, collectively representing 40 years of commitments.
- EnLink Midstream
- Neste Finland
- Southern California Gas
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.
We’ve built online tools
to serve more customers more ways.
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.
We’ve built upon our
commitment to Environmental, Social and Governance initiatives.
for a safer, more sustainable future.
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
We’ve built strength
into our balance
sheet year after year.
is our foundation.
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.