$MRC
MRC GLOBAL INC.

2020 Q2 Form 10-Q Financial Statement

#000143774920015981 Filed on July 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $602.0M $984.0M
YoY Change -38.82% -9.06%
Cost Of Revenue $523.0M $810.0M
YoY Change -35.43% -10.5%
Gross Profit $79.00M $174.0M
YoY Change -54.6% -1.69%
Gross Profit Margin 13.12% 17.68%
Selling, General & Admin $126.0M $133.0M
YoY Change -5.26% -2.21%
% of Gross Profit 159.49% 76.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.00M $17.00M
YoY Change -35.29% 0.0%
% of Gross Profit 13.92% 9.77%
Operating Expenses $126.0M $133.0M
YoY Change -5.26% -2.21%
Operating Profit -$289.0M $41.00M
YoY Change -804.88% 0.0%
Interest Expense $7.000M $10.00M
YoY Change -30.0% 0.0%
% of Operating Profit 24.39%
Other Income/Expense, Net -$2.000M $1.000M
YoY Change -300.0% -200.0%
Pretax Income -$298.0M $32.00M
YoY Change -1031.25% 6.67%
Income Tax -$17.00M $8.000M
% Of Pretax Income 25.0%
Net Earnings -$281.0M $24.00M
YoY Change -1270.83% 9.09%
Net Earnings / Revenue -46.68% 2.44%
Basic Earnings Per Share -$3.50 $0.22
Diluted Earnings Per Share -$3.50 $0.21
COMMON SHARES
Basic Shares Outstanding 82.00M 83.20M
Diluted Shares Outstanding 82.00M 83.90M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.00M $35.00M
YoY Change -45.71% 12.9%
Cash & Equivalents $19.00M $35.00M
Short-Term Investments
Other Short-Term Assets $36.00M $36.00M
YoY Change 0.0% -7.69%
Inventory $627.0M $798.0M
Prepaid Expenses
Receivables $379.0M $627.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.061B $1.496B
YoY Change -29.08% -7.54%
LONG-TERM ASSETS
Property, Plant & Equipment $131.0M $136.0M
YoY Change -3.68% -7.48%
Goodwill $264.0M $484.0M
YoY Change -45.45%
Intangibles $241.0M $300.0M
YoY Change -19.67%
Long-Term Investments
YoY Change
Other Assets $17.00M $28.00M
YoY Change -39.29% 33.33%
Total Long-Term Assets $816.0M $1.133B
YoY Change -27.98% 13.53%
TOTAL ASSETS
Total Short-Term Assets $1.061B $1.496B
Total Long-Term Assets $816.0M $1.133B
Total Assets $1.877B $2.629B
YoY Change -28.6% 0.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $301.0M $438.0M
YoY Change -31.28% -16.89%
Accrued Expenses $89.00M $95.00M
YoY Change -6.32% -30.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.000M $4.000M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $427.0M $572.0M
YoY Change -25.35% -14.24%
LONG-TERM LIABILITIES
Long-Term Debt $470.0M $734.0M
YoY Change -35.97% 4.26%
Other Long-Term Liabilities $46.00M $35.00M
YoY Change 31.43% -7.89%
Total Long-Term Liabilities $516.0M $769.0M
YoY Change -32.9% 3.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $427.0M $572.0M
Total Long-Term Liabilities $516.0M $769.0M
Total Liabilities $943.0M $1.341B
YoY Change -29.68% -11.25%
SHAREHOLDERS EQUITY
Retained Earnings -$767.0M -$468.0M
YoY Change 63.89%
Common Stock $1.734B $1.723B
YoY Change 0.64%
Preferred Stock
YoY Change
Treasury Stock (at cost) $375.0M $350.0M
YoY Change 7.14%
Treasury Stock Shares $24.22M $22.48M
Shareholders Equity $341.0M $672.0M
YoY Change
Total Liabilities & Shareholders Equity $1.877B $2.629B
YoY Change -28.6% 0.5%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$281.0M $24.00M
YoY Change -1270.83% 9.09%
Depreciation, Depletion And Amortization $11.00M $17.00M
YoY Change -35.29% 0.0%
Cash From Operating Activities $47.00M $48.00M
YoY Change -2.08% -173.85%
INVESTING ACTIVITIES
Capital Expenditures -$3.000M -$4.000M
YoY Change -25.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.000M
YoY Change -100.0%
Cash From Investing Activities -$3.000M -$2.000M
YoY Change 50.0% -50.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $25.00M
YoY Change 25.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -54.00M -39.00M
YoY Change 38.46% -167.24%
NET CHANGE
Cash From Operating Activities 47.00M 48.00M
Cash From Investing Activities -3.000M -2.000M
Cash From Financing Activities -54.00M -39.00M
Net Change In Cash -10.00M 7.000M
YoY Change -242.86% -163.64%
FREE CASH FLOW
Cash From Operating Activities $47.00M $48.00M
Capital Expenditures -$3.000M -$4.000M
Free Cash Flow $50.00M $52.00M
YoY Change -3.85% -185.25%

Facts In Submission

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us-gaap Contract With Customer Liability Revenue Recognized
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us-gaap Operating Lease Expense
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us-gaap Treasury Stock Shares Acquired
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us-gaap Treasury Stock Value Acquired Cost Method
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CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2020Q2 us-gaap Assets
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603 pure
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1179 pure

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