By Adriano Marchese
MRC Global shares fell in premarket trading Friday after the company reported a fourth-quarter loss and lower revenue, missing expectations.
Shares traded 7.3% lower ahead of the bell at $10.30.
The infrastructure-products-and-services company reported a decline in sales to $664 million, down from $740 million, missing analyst expectations of a modest decline to $726.9 million, according to FactSet.
The decline was driven by the downstream, industrial and energy transition sector followed by the production and transmission infrastructure sector, the Houston-based company said.
Adjusted loss was 8 cents, missing expectations of a profit of 8 cents.
Net loss was $34 million, down from a profit of $15 million a year earlier.
Looking ahead, Chief Executive Rob Saltiel said the company is optimistic about the business outlook in 2025 due to its rebounding gas-utilities business and better pricing models that include inflation controls.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
March 14, 2025 08:46 ET (12:46 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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