Pipes, valves and fittings distributor MRC Global Inc. (NYSE: MRC), Houston, TX, reported third-quarter sales of $793 million, down 26 percent over the same period a year ago. The company reported a loss of $46 million, compared to a profit of $10 million last year.
U.S. sales in the third quarter were down 32 percent year-over-year to $590 million and Canadian sales were flat at $70 million. International sales in the third quarter were $133 million, down 2 percent.
For the first nine months, MRC sales were $2.3 billion, a 34.8 percent decrease over the prior-year period. The company reported a loss of $83 million, compared to a profit of $54 million last year.