MRC Global Q2 sales $798M (+12% QoQ); net income $13M; merger with DNOW reaffirmed

MRC GLOBAL INC.

2025-Q2 EPS reported -$0.11 revenue$1,510,000,000

Revenue $798M, up 12% sequentially; flat YoY; net income from continuing ops $13M vs $30M YoY.
Adjusted EBITDA $54M (6.8% of sales) vs $65M (8.1%) YoY; adjusted diluted EPS $0.25 vs $0.31 YoY.
Repurchased $15M of stock at avg $12.35/share; program suspended due to pending DNOW merger.
Reaffirmed full-year guidance; no future guidance issued due to pending all-stock merger with DNOW (expected Q4 2025).
Backlog $589M (-2% QoQ); liquidity $574M; Net Debt $374M.

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