MRC Global Inc., a distributor of pipes, valves and fittings and services for the energy and industrial markets, ended 2021 with a good increase in e-commerce sales.
We expect our capital expenditures in 2022 to be in the range of $ 10 million to $ 15 million as we continue to invest in e-commerce and system upgrades.
Rob Saltiel, CEO
MRC Global Inc.
For the year ended Dec. 31, MRC of Houston reported that e-commerce accounted for 42% of total sales compared to 35% of total sales in 2020.
In 2021, MRC Global posted total sales of $ 2.66 billion, up 4% from $ 2.56 billion in 2020. Based on an e-commerce share of 42% and 35% of total sales in 2021 and 2020, respectively, Digital Commerce 3601 estimates that 202 grew by 23.9% to $ 1.11 billion from $ 896 million in 2020 year.
The net loss was $ 14 million versus $ 274 million in 2020. “We began to see an increase in maintenance and turnover costs for the refining and chemical industries in the fourth quarter of 2021, most of which were previously delayed due to the pandemic,” said CEO Rob Saltyel Wall Street analysts said. “In 2022, we expect more significant improvement as our US diet sector grows to double digits.”
MRC also has an inventory of 250,000 SKUs, including a variety of pipeline fittings (PVF), oil field supplies, valve automation and modification, measurements, instruments and other general and specialty products from a global network of more than 10,000 suppliers. “We serve about 10,000 customers through digital commerce applications and approximately 210 service locations, including regional distribution centers, service centers, corporate offices and third-party pipelines, where we often deploy pipes near customers’ locations,” the recent statement said. companies. annual report with the U.S. Securities and Exchange Commission.
The MRC will also continue significant investment in e-commerce in 2022, Saltyel analysts said. “We expect our capital expenditures for the entire 2022 year to be in the range of $ 10 million to $ 15 million as we continue to invest in e-commerce and system upgrades,” he said.
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https://www.digitalcommerce360.com/2022/02/17/a-pipe-and-valve-distributor-grows-annual-ecommerce-sales-by-24/ Pipe and Valve Distributor Increases Annual E-Commerce Sales by 24%