MRC Global (MRC) Investor presentation summary

Strategic overview and growth outlook

• Positioned as a leading global supply chain expert with a diversified portfolio and long-term growth drivers across all end-markets.

• Returning to revenue growth in 2025, supported by secular growth themes in gas utilities, energy transition, and industrial sectors.

• Significant cash generation is expected across the business cycle, enabling capital allocation for balance sheet strength, shareholder returns, and growth investments.

• Digital transformation initiatives, including AI-enabled tools and a modern cloud-based ERP, are set to accelerate growth and efficiency.

Market and sector performance

• Gas utilities sector rebounding with destocking complete and multi-year growth expected, driven by infrastructure upgrades and safety investments.

• Energy transition and process industries benefit from increased maintenance, new end-markets like data centers and mining, and global decarbonization projects.

• Traditional energy infrastructure sees growth from rising oil demand, natural gas infrastructure needs, and pipeline expansion, especially in the U.S. and Europe.

Financial performance and outlook

• 2025 revenue projected to increase low to high single digits over 2024, with each sector contributing.

• Adjusted gross profit margin targeted at 21% or better, with SG&A/sales at 15–16% and effective tax rate of 26–28%.

• Cash flow from continuing operations expected at $100M or better, with capital expenditures of ~$45M including ERP investment.

• Quarterly revenue expected to peak in 3Q25, with seasonal decline in 4Q25.