MRC GLOBAL INC.

CIK:0001439095|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Sales	$ 678	$ 771	$ 2,188	$ 2,347
Cost of sales	553	614	1,770	1,862
Gross profit	125	157	418	485
Selling, general and administrative expenses	128	120	382	362
Operating (loss) income	(3)	37	36	123
Other (expense) income:
Interest expense	(10)	(4)	(29)	(19)
Other, net	0	(1)	7	(2)
(Loss) income from continuing operations before income taxes	(13)	32	14	102
Income tax (benefit) expense from continuing operations	4	(3)	(2)	(23)
Net (loss) income from continuing operations	(9)	29	12	79
Net (loss) income	(9)	29	(18)	78
Series A preferred stock dividends	0	6	0	18
Net (loss) income attributable to common stockholders	(9)	23	(18)	60
Loss from discontinued operations, net of tax	$ 0	$ 0	$ (30)	$ (1)
Basic (loss) earnings per common share:
(Loss) income from continued operations (in dollars per share)	$ (0.11)	$ 0.27	$ 0.14	$ 0.72
Basic (loss) earnings per common share (in dollars per share)	(0.11)	0.27	(0.21)	0.71
Loss from discontinued operations (in dollars per share)	0	0	(0.35)	(0.01)
Diluted (loss) earnings per common share:
(Loss) income from continued operations (in dollars per share)	(0.11)	0.27	0.14	0.71
Diluted (loss) earnings per common share (in dollars per share)	$ (0.11)	$ 0.27	$ (0.21)	$ 0.7
Weighted-average common shares, basic (in shares)	84.5	85.2	85.2	85.0
Weighted-average common shares, diluted (in shares)	84.5	86.2	85.2	86.2
Loss from discontinued operations (in dollars per share)	$ 0	$ 0	$ (0.35)	$ (0.01)