Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, TX, reported third-quarter sales of $1.1 billion, down 34 percent over the same period a year ago. Profit decreased 80 percent to $10 million.
U.S. sales in the third quarter were down 28.2 percent year-over-year to $865.4 million and Canadian sales were $69.4 million, down 56.9 percent. International sales in the third quarter were $136.4 million, down 45.8 percent.
For the first nine months, MRC sales were $3.6 billion, a 19.4 percent decrease over the prior-year period. Profit fell 52.1 percent to $54.1 million.
