MRC Global gains on raising 2022 revenue forecast
07/07/2022 22:52
** Shares of industrial equipment distributor MRC Global Inc
MRC.N rise 4.9% to $9.82 after the bell
** Increases 2022 rev forecast to $3.3 bln from prior
expectation of $3.1 bln urn:newsml:reuters.com:*:nGNX1DPZ3P
** Analysts expect $3.1 bln - Refinitiv data
** Sees 2022 adjusted EBITDA to be $230 mln vs. prior
estimate of $200 mln
** Expects Q2 sales to be up ~14% over Q1, based on
preliminary results, compared to previous outlook of high
single-digit improvement
** As of last close, MRC up 36.1% YTD
(Reporting by Vansh Agarwal)
((Vansh.Agarwal@thomsonreuters.com;))