MRC News & Events

Reports Q3 revenue $678M, consensus $854.6M. Rob Saltiel, MRC Global's President and CEO, commented, "The implementation of our new enterprise resource planning (ERP) system in our U.S. segment encountered significant challenges that adversely impacted our revenues, profitability, and cash flows, during our third quarter. We deployed extensive resources to ensure that customer service levels were maintained and that business operations could function as we addressed the system issues. I am pleased to report that our financial and operations performance improved dramatically by the end of our third quarter and that this more normalized performance has continued throughout the month of October. We greatly appreciate the patience of our customers and the hard work by the entire MRC Global team during this system transition."

Dnow announced its future leadership team effective upon the completion of the pending transaction with MRC Global (MRC). David Cherechinsky, President and Chief Executive Officer of DNOW, will serve as President and Chief Executive Officer of the combined company, and Mark Johnson, Chief Financial Officer of DNOW, will serve as Senior Vice President and Chief Financial Officer. Kelly Munson, Chief Administrative and Information Officer of DNOW, will serve as Chief Administrative and Information Officer, with oversight of Human Resources, Organizational Development, and Information Technology functions. Gillian Anderson, Vice President and Chief Accounting Officer of MRC Global, will serve as Vice President and Chief Accounting Officer, reporting to Mark Johnson. The transaction is currently on track to close in the fourth quarter of 2025, having received both DNOW and MRC Global shareholder approval and is still subject to obtaining the remaining regulatory clearances and satisfaction of other customary closing conditions.