MRC Global Q3 Sales Miss Estimates, Down 12.1% YoY

MRC Global (NYSE:MRC) missed Q3 sales expectations, with revenue falling 12.1% YoY to $678 million and non-GAAP profit of $0.13 per share, a 60.6% miss from analyst estimates. CEO Rob Saltiel attributed the performance to challenges with the company's new enterprise resource planning system. MRC Global's revenue growth has struggled in the long-term, with sales for the trailing 12 months close to its revenue five years ago.