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MRC: 3Q Earnings Snapshot

·1 min read

HOUSTON (AP) _ MRC Global Inc. (MRC) on Wednesday reported third-quarter earnings of $3 million.

The Houston-based company said it had profit of 4 cents per share. Losses, adjusted for non-recurring gains, came to 10 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.

The energy products distributor posted revenue of $585 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $559.9 million.

In the final minutes of trading on Wednesday, the company's shares hit $4. A year ago, they were trading at $11.85.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MRC at https://www.zacks.com/ap/MRC