MRC Global Inc., a century-old supplier of pipes, valves, fittings (PVF) and other products and services for the energy sector, now handles 60% of its orders in North America online, according to the company itself.
The company said total sales for the first quarter, which ended March 31, were $885 million, up 19.2% from $742 million in the first quarter of 2022. Net income was $28 million, up significantly from $10 million in the same period the previous year.
MRC points out that 60 percent of all sales in North America are now made digitally. On that basis, Digital Commerce 360 estimates that sales through e-commerce were about $531 million. However, the company did not provide the corresponding figures for the previous year.
Overall, e-commerce sales accounted for 52% of total sales in the first quarter, up from 42% in the previous year. On that basis, Digital Commerce 360 predicts first-quarter online sales will reach $460.2 million, up 48% from $311.6 million in the first quarter of 2022.
“Strong first quarter performance, healthy and growing order volume, and strict adherence to our customers’ spending plans all give us increasing confidence in our 2023 outlook,” said CEO Rob Saltiel.
MRC Global earnings
MRC is clearly showing financial growth in the first quarter of 2023, ended March 31, with total sales of $885 million, up 19.2% from the $742 million it earned in the same period in 2022. The company’s net income increased significantly, reaching $28 million, up from $10 million last year. MRC highlighted that 60 percent of their total sales in North America came from digital transactions. According to an analysis by Digital Commerce 360, MRC’s electronic sales are estimated at $531 million. Note that percentage changes may not add up to absolute values due to rounding.
