MRC Global Announces $125 Mln Share Repurchase Drive

rttnews
2025.01.03 12:03

MRC Global Inc. has announced a $125 million share repurchase program authorized by its Board, set to expire on January 2, 2028. CEO Rob Saltiel expressed confidence in the company's future and financial flexibility, highlighting a capital allocation strategy focused on reducing net debt leverage, returning cash to shareholders, and investing in growth. The execution of the repurchase program is expected to begin in the second quarter, with management determining the specifics of the share buyback.

MRC Global Inc. (MRC), a distributor of pipe, valve, and fitting products, said on Friday that its Board has authorized a new $125 million share repurchase program, which will expire on January 2, 2028.

Rob Saltiel, CEO of MRC Global, said: "Today's announcement reflects our confidence in the company's future and the financial flexibility. Our three-pronged capital allocation strategy consists of targeting a net debt leverage ratio of less than 1.5x, returning cash to shareholders, and investing in our company's future growth. We anticipate beginning the execution of the repurchase program in the second quarter."

The timing, manner, number, and value of shares repurchased under this share repurchase will be determined by management at its discretion.

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