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Why MRC Global Stock Is On Fire Today

TheMotleyFool

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Shares of MRC Global (NYSE: MRC) rocketed more than 23% by 1:30 p.m. EDT on Friday. Driving the rally in the leading PVF distributor to the energy industry was its expectation-beating third-quarter report.

MRC Global recorded $942 million of sales during the third quarter. While that was down 4% sequentially and 12% year over year, it came in about $3.6 million ahead of the analysts' consensus. Meanwhile, the company reported $13 million, or $0.16 per share, of adjusted net income, which beat expectations by $0.03 per share.

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Source Fool.com

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