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MRC: 4Q Earnings Snapshot

HOUSTON (AP) _ MRC Global Inc. (MRC) on Thursday reported a fourth-quarter loss of $24 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Houston-based company said it had a loss of 37 cents. Losses, adjusted for restructuring costs and non-recurring costs, were 11 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The energy products distributor posted revenue of $766 million in the period, which also missed Street forecasts. Six analysts surveyed by Zacks expected $853.2 million.

For the year, the company reported profit of $39 million, or 18 cents per share. Revenue was reported as $3.66 billion.

MRC expects full-year earnings to be 19 cents to 56 cents per share, with revenue in the range of $3.2 billion to $3.7 billion.

MRC shares have declined 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.42, a fall of 30% in the last 12 months.

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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