$MRC
MRC GLOBAL INC.

2023 Q2 Form 10-Q Financial Statement

#000143774923013285 Filed on May 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $871.0M $885.0M $742.0M
YoY Change 2.71% 19.27% 21.84%
Cost Of Revenue $696.0M $706.0M $606.0M
YoY Change 2.81% 16.5% 19.76%
Gross Profit $175.0M $179.0M $136.0M
YoY Change 2.34% 31.62% 32.04%
Gross Profit Margin 20.09% 20.23% 18.33%
Selling, General & Admin $130.0M $122.0M $107.0M
YoY Change 8.33% 14.02% 7.0%
% of Gross Profit 74.29% 68.16% 78.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.00M $10.00M $10.00M
YoY Change 0.0% 0.0% -9.09%
% of Gross Profit 5.71% 5.59% 7.35%
Operating Expenses $130.0M $122.0M $107.0M
YoY Change 8.33% 14.02% 7.0%
Operating Profit $45.00M $57.00M $29.00M
YoY Change -11.76% 96.55% 866.67%
Interest Expense $10.00M $7.000M $6.000M
YoY Change -300.0% 16.67% 0.0%
% of Operating Profit 22.22% 12.28% 20.69%
Other Income/Expense, Net -$1.000M -$3.000M $0.00
YoY Change -83.33%
Pretax Income $34.00M $47.00M $23.00M
YoY Change 70.0% 104.35% -866.67%
Income Tax $10.00M $13.00M $7.000M
% Of Pretax Income 29.41% 27.66% 30.43%
Net Earnings $24.00M $34.00M $16.00M
YoY Change 71.43% 112.5% -633.33%
Net Earnings / Revenue 2.76% 3.84% 2.16%
Basic Earnings Per Share $0.21 $0.33 $0.12
Diluted Earnings Per Share $0.21 $0.33 $0.12
COMMON SHARES
Basic Shares Outstanding 84.21M 83.65M 83.30M
Diluted Shares Outstanding 85.30M 85.40M 84.30M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.00M $39.00M $31.00M
YoY Change 47.62% 25.81% -76.52%
Cash & Equivalents $31.00M $39.00M $31.00M
Short-Term Investments
Other Short-Term Assets $39.00M $30.00M $28.00M
YoY Change 8.33% 7.14% 16.67%
Inventory $674.0M $672.0M $500.0M
Prepaid Expenses
Receivables $519.0M $529.0M $453.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.263B $1.270B $1.012B
YoY Change 14.71% 25.49% -1.65%
LONG-TERM ASSETS
Property, Plant & Equipment $78.00M $81.00M $88.00M
YoY Change -72.34% -7.95% -10.2%
Goodwill $264.0M $264.0M $264.0M
YoY Change 0.0% 0.0%
Intangibles $173.0M $178.0M $199.0M
YoY Change -10.55% -10.36%
Long-Term Investments
YoY Change
Other Assets $16.00M $21.00M $23.00M
YoY Change -30.43% -8.7% 21.05%
Total Long-Term Assets $737.0M $751.0M $774.0M
YoY Change -3.41% -2.97% -3.01%
TOTAL ASSETS
Total Short-Term Assets $1.263B $1.270B $1.012B
Total Long-Term Assets $737.0M $751.0M $774.0M
Total Assets $2.000B $2.021B $1.786B
YoY Change 7.3% 13.16% -2.24%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $448.0M $467.0M $400.0M
YoY Change 3.46% 16.75% 18.34%
Accrued Expenses $97.00M $99.00M $87.00M
YoY Change -10.19% 13.79% 2.35%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.000M $3.000M $3.000M
YoY Change 0.0% 0.0% -97.14%
Total Short-Term Liabilities $585.0M $605.0M $525.0M
YoY Change 6.56% 15.24% -6.75%
LONG-TERM LIABILITIES
Long-Term Debt $368.0M $387.0M $300.0M
YoY Change 4.25% 29.0% 8.3%
Other Long-Term Liabilities $20.00M $21.00M $26.00M
YoY Change -90.2% -19.23% -27.78%
Total Long-Term Liabilities $388.0M $408.0M $326.0M
YoY Change -30.34% 25.15% 4.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $585.0M $605.0M $525.0M
Total Long-Term Liabilities $388.0M $408.0M $326.0M
Total Liabilities $973.0M $1.013B $851.0M
YoY Change -16.27% 19.04% -2.85%
SHAREHOLDERS EQUITY
Retained Earnings -$722.0M -$740.0M -$809.0M
YoY Change -8.53% 2.41%
Common Stock $1.762B $1.758B $1.749B
YoY Change 0.51% 0.34%
Preferred Stock
YoY Change
Treasury Stock (at cost) $375.0M
YoY Change 0.0%
Treasury Stock Shares $24.22M
Shareholders Equity $435.0M $412.0M $339.0M
YoY Change
Total Liabilities & Shareholders Equity $2.000B $2.021B $1.786B
YoY Change 7.3% 13.16% -2.24%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $24.00M $34.00M $16.00M
YoY Change 71.43% 112.5% -633.33%
Depreciation, Depletion And Amortization $10.00M $10.00M $10.00M
YoY Change 0.0% 0.0% -9.09%
Cash From Operating Activities $20.00M -$30.00M -$13.00M
YoY Change -140.0% 130.77% -154.17%
INVESTING ACTIVITIES
Capital Expenditures $2.000M $3.000M $2.000M
YoY Change -166.67% 50.0% 0.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$2.000M -$3.000M -$2.000M
YoY Change -60.0% 50.0% 100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.00M $40.00M -$2.000M
YoY Change -153.19% -2100.0% -77.78%
NET CHANGE
Cash From Operating Activities 20.00M -$30.00M -$13.00M
Cash From Investing Activities -2.000M -$3.000M -$2.000M
Cash From Financing Activities -25.00M $40.00M -$2.000M
Net Change In Cash -7.000M $7.000M -$17.00M
YoY Change -12.5% -141.18% -221.43%
FREE CASH FLOW
Cash From Operating Activities $20.00M -$30.00M -$13.00M
Capital Expenditures $2.000M $3.000M $2.000M
Free Cash Flow $18.00M -$33.00M -$15.00M
YoY Change -138.3% 120.0% -168.18%

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