MRC Global (MRC) Tops Q3 EPS by 8c, Raises Buyback

MRC Global (NYSE: MRC) reported Q3 EPS of ($0.06), $0.08 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $793 million versus the consensus estimate of $757.91 million.

Share Repurchase Program Update

In November 2015, the board of directors authorized a share repurchase program for common stock of up to $100 million, which was increased in November 2016 to $125 million. During the third quarter of 2016, the company repurchased $17 million of its common stock at an average price of $14.92 per share. In total, the company has repurchased 7.2 million shares of its common stock for an average price of $13.85. The outstanding share count as of September 30, 2016 is 95.3 million.

For earnings history and earnings-related data on MRC Global (MRC) click here.

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