MRC Global Inc. (NYSE: MRC) has provided an update on the timing of its earnings release and the filing of its Form 10-K for the year 2024. The company expects to file its 2024 Form 10-K with the Securities and Exchange Commission on or before March 18, 2025. This comes after the company filed a form 12b-25 (notification of late filing) to allow for the extended filing date.
The delay in the release of the financial results was due to the need for additional time to complete year-end procedures, specifically related to inventory counts, including physical inventory procedures. The company has now completed all required physical inventory counts but requires more time to finalize the analysis and incorporate the results into the financial statements.
It is worth noting that, based on the work completed to date, the company does not expect a material net inventory adjustment related to the 2024 results or a restatement of prior periods.
MRC Global Inc. also plans to issue a separate press release providing the timing and details of its fourth quarter and full-year 2024 earnings release and conference call. The market has reacted to these announcements by moving the company's shares -4.7% to a price of $11.6. Check out the company's full 8-K submission here.
