---
title: "MRC Global | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 678 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/264420064.md"
datetime: "2025-11-05T11:48:50.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/264420064.md)
  - [en](https://longbridge.com/en/news/264420064.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/264420064.md)
---

# MRC Global | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 678 M

Revenue: As of FY2025 Q3, the actual value is USD 678 M, missing the estimate of USD 854.6 M.

EPS: As of FY2025 Q3, the actual value is USD -0.11, missing the estimate of USD 0.3133.

EBIT: As of FY2025 Q3, the actual value is USD 7 M.

### Segment Revenue

-   **U.S. Segment**: Sales decreased to $550 million for the three months ended September 30, 2025, from $644 million for the same period in 2024, a decrease of $94 million or 15%.
-   **International Segment**: Sales increased to $128 million for the three months ended September 30, 2025, from $127 million for the same period in 2024, an increase of $1 million.

### Operational Metrics

-   **Gross Profit**: Decreased to $125 million (18.4% of sales) for the three months ended September 30, 2025, from $157 million (20.4% of sales) for the same period in 2024.
-   **Operating (Loss) Income**: Operating loss was $3 million for the three months ended September 30, 2025, compared to operating income of $37 million for the same period in 2024.
-   **Net (Loss) Income from Continuing Operations**: Net loss was $9 million for the three months ended September 30, 2025, compared to net income of $29 million for the same period in 2024.

### Cash Flow

-   **Operating Cash Flow**: Net cash used in operating activities was $67 million during the nine months ended September 30, 2025, compared to $197 million generated during the same period in 2024.
-   **Investing Cash Flow**: Net cash used in investing activities was $7 million during the nine months ended September 30, 2025, compared to $22 million used during the same period in 2024.
-   **Financing Cash Flow**: Net cash provided by financing activities was $65 million for the nine months ended September 30, 2025, compared to $242 million used during the same period in 2024.

### Unique Metrics

-   **Adjusted EBITDA**: Adjusted EBITDA was $36 million (5.3% of sales) for the three months ended September 30, 2025, compared to $47 million (6.1% of sales) for the same period in 2024.

### Future Outlook and Strategy

-   **Core Business Focus**: The company is focused on resolving the operational challenges from the ERP system implementation and expects the elevated revenue backlog at the end of the third quarter 2025 of $571 million to manifest as revenue in the coming quarters.
-   **Non-Core Business**: The company completed the sale of its Canadian operations to EMCO Corporation in March 2025, using the proceeds to reduce debt.
-   **Priority**: The company is implementing a new ERP system to improve operational efficiency and expects long-term benefits from this implementation.

### Related Stocks

- [MRC.US](https://longbridge.com/en/quote/MRC.US.md)

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