Investor Presentation
September 19, 2022
Rob Saltiel
President & CEO
Kelly Youngblood
Executive Vice President & CFO
Forward Looking Statements
This presentation contains forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act. Words such as "will," "expect," "look forward," "guidance," "targeted", "goals", and similar expressions are intended to identify forward-looking statements. Statements about the company's business, including its strategy, its industry, the company's future profitability, the company's guidance on its sales, adjusted EBITDA, adjusted net income, adjusted diluted EPS, adjusted SG&A, gross profit, gross profit percentage, adjusted gross profit, adjusted gross profit percentage, net debt, tax rate, capital expenditures and cash from operations, free cash flow, free cash flow after dividends, growth in the company's various markets and the company's expectations, beliefs, plans, strategies, objectives, prospects and assumptions are not guarantees of future performance. These statements are based on management's expectations
that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, most of which are difficult to predict and many of which are beyond our control, including the factors described in the company's SEC filings that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements, including the company's Current Report on Form 8-K dated August 8, 2022.
For a discussion of key risk factors, please see the risk factors disclosed in the company's SEC filings,
which are available on the SEC's website at www.sec.gov and on the company's website, www.mrcglobal.com. Our filings and other important information are also available on the Investor Relations page of our website at www.mrcglobal.com.
Undue reliance should not be placed on the company's forward-looking statements. Although forward- looking statements reflect the company's good faith beliefs, reliance should not be placed on forward- looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the company's actual results, performance or achievements or future events to differ
materially from anticipated future results, performance or achievements or future events expressed or implied by such forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, except to the extent required by law.
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Non-GAAP Disclaimer
In this presentation, the company is providing certain non-GAAP financial measures. These are not measures of financial performance calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP) and should not be considered as alternatives. The following GAAP measures have the following non-GAAP measures presented and derived from the respective GAAP measures:
- net income (adjusted EBITDA)
- net income margin (adjusted EBITDA margin)
- gross profit (adjusted gross profit)
- gross profit percentage (adjusted gross profit percentage)
- net income (adjusted net income)
- diluted earnings per share (adjusted diluted EPS)
- selling, general and administrative expense (adjusted SG&A)
- net cash provided by operations (free cash flow and free cash flow after dividends)
- long-termdebt, net (net debt)
They should be viewed in addition to, and not as a substitute for, analysis of our results reported in accordance with GAAP. Management believes that these non-GAAP financial measures provide investors a view to measures similar to those used in evaluating our compliance with certain financial covenants under our credit facilities and provide meaningful comparisons between current and prior year period results. They are also used as a metric to determine certain components of performance-based compensation. They are not necessarily indicative of future results of operations that may be obtained by the company.
MRC Global
A Compelling Investment Opportunity
Leading global distributor of infrastructure products and value-added services provider
Diversified portfolio with long-term growth drivers in each of the markets we support
Rapidly improving top-line and bottom-line financial performance
Solid balance sheet with flexibility for future growth
Sustainability principles embedded in organizational values and product offering
2Q22 Investor Presentation | 4 |
Leading Global Distributor of Infrastructure Products & Value-AddedServices Provider
Valued Supply Chain Partner to Customers and Suppliers
North America | EMEA | APAC | |
Stavanger, NO | |||
Nisku, AB | Bradford, UK | Singapore | |
Rotterdam, NL | |||
Dubai, UAE | |||
Munster, IN | Perth, WA | ||
Pittsburgh, PA | Brisbane, QLD | ||
Bakersfield, CA | |||
Odessa, TX | Global Footprint | ||
Houston, TX | |||
13 | Regional Distribution Centers | ||
26 Valve & Engineering Centers | |||
Valve Engineering & | 112 | Service Centers | |
Modification Center | Headquarters | ||
15 | Countries | ||
~2,600 | Employees |
Current as of June 30, 2022
2Q22 Investor Presentation | 5 |
Diversified Revenue by End-Market Sector, Product Line and Geography
Distributor with a Stable Customer Base / Leaders in Energy Transition
Stainless Steel & Alloy
Pipe, Fittings & Flanges
Upstream
Production
Midstream 12% Pipeline
21% | General Products | |||
TTM 2Q22 | 38% | Gas Utilities | ||
REVENUE BY | Gas Products | |||
END-MARKET | ||||
SECTOR | International | 24% | ||
Canada | 11% | |||
29% | 5% | |||
Downstream, Industrial & | TTM 2Q22 | |||
REVENUE BY | ||||
Energy Transition | GEOGRAPHY | |||
8% | 5% | |
Valve, Automation, | ||
34% | Measurement & | |
Instrumentation |
TTM 2Q22
REVENUE BY
PRODUCT LINE
29%
Carbon Steel
Pipe, Fittings & Flanges
84% | United States |
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MRC Global Inc. published this content on 19 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2022 10:39:01 UTC.