MRC Global Announces Key Update on Annual Earnings Release
MRC Global Announces Update on Earnings Release Timing
HOUSTON — MRC Global Inc. (NYSE: MRC) has shared an update regarding the filing of its 2024 Form 10-K with the Securities and Exchange Commission (SEC). The company anticipates submitting this essential document on or before a specified date. In tandem with this filing, MRC Global will notify stakeholders with a Form 12b-25 to communicate the necessary delay.
Understanding the Delay in Financial Results
The delay in releasing financial results is attributed to the company requiring additional time to finalize year-end processes, particularly those associated with inventory assessments. As part of these procedures, MRC Global has successfully finished all essential physical inventory counts. However, it continues to require time to analyze these results thoroughly and integrate them into the forthcoming financial statements.
A preliminary review indicates that MRC Global does not anticipate significant net inventory adjustments impacting the 2024 results, and it does not foresee the need to revise past financial periods. This assurance reflects the company's commitment to maintaining transparency and integrity in its reporting.
The Importance of Financial Integrity
In the backdrop of this update, it is vital to remember that financial disclosures play a crucial role in providing clarity to investors and stakeholders. MRC Global understands this responsibility and emphasizes its diligence in fulfilling reporting obligations. Every financial statement issued shapes the company's reputation and credibility within the market.
About MRC Global Inc.
Headquartered in Houston, Texas, MRC Global (NYSE: MRC) stands as a leading distributor of pipe, valves, fittings (PVF), and various infrastructure products and services. The company serves a wide array of markets, including gas utilities and industrial sectors. With over a century of experience, MRC Global excels in offering innovative supply chain solutions alongside advanced technical product expertise, all from a well-established network of more than 200 locations worldwide. They pride themselves on their comprehensive quality assurance program, offering a vast inventory that includes over 300,000 SKUs sourced from an extensive list of suppliers.
Contact Information
For further inquiries, the company encourages communication with:
Monica Broughton,
VP, Investor Relations & Treasury,
MRC Global Inc.
Email: Monica.Broughton@mrcglobal.com
Phone: 832-308-2847
Frequently Asked Questions
What is the reason for the delay in MRC Global's earnings release?
The delay is primarily due to the need for additional time to complete year-end financial procedures, especially regarding inventory counts.
When does MRC Global expect to file its Form 10-K?
MRC Global expects to file its 2024 Form 10-K on or before the specified date.
Will MRC Global restate any prior financial results?
The company does not currently expect to restate prior financial periods based on their preliminary findings.
What does MRC Global distribute?
MRC Global is a distributor of pipe, valves, fittings, and other infrastructure products, serving diverse markets, including industrial and energy sectors.
How can I contact MRC Global for investor relations?
Investors can contact Monica Broughton at MRC Global via email or phone for inquiries related to investor relations.
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