MRC Global Inc. (NYSE: MRC) saw its stock price plummet 6.25% in pre-market trading on Thursday following the release of its preliminary first quarter 2025 results. The company, a leading global distributor of pipe, valves, and fittings, reported financial figures that appear to have fallen short of investor expectations.

According to the preliminary report, MRC Global's Q1 2025 performance included: - Revenue of approximately $710 million, representing a 7% sequential increase - Net income from continuing operations of approximately $7 million - Adjusted EBITDA of approximately $35 million, or 4.9% of sales - Gross Profit of approximately $142 million, or 20.0% of sales - Adjusted Gross Profit of approximately $153 million, or 21.5% of sales

Despite the company's optimistic outlook for Q2 2025, with expectations of a high-single to low-double digit percentage increase in sequential sales, investors seem to be focusing on the current quarter's results. The market reaction suggests that the reported figures, particularly the modest net income and adjusted EBITDA margins, may have disappointed shareholders who were anticipating stronger performance in the face of ongoing economic challenges.