MRC Global's Q3 Earnings Surpass Estimates, Revenues Down Y/Y
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MRC Global's Q3 2024 earnings exceeded expectations, but revenues fell by 10.3% year-over-year due to decreased sales volumes in the Gas Utilities, DIET, and PTI sectors.
November 06, 2024 | 5:45 pm
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MRC Global's Q3 2024 earnings surpassed estimates, but the company faced a 10.3% revenue decline year-over-year, attributed to reduced sales in the Gas Utilities, DIET, and PTI sectors.
Despite exceeding earnings expectations, the significant year-over-year revenue decline suggests potential challenges in MRC Global's key sectors, which could negatively impact investor sentiment and the stock price in the short term.
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