After yesterday's market close, the Houston-based energy products distributor posted earnings of 12 cents per share, surpassing analysts' expectations for earnings of 2 cents per share.
Revenue fell 36% to $967.1 million year-over-year, but topped analysts' estimates of $946.2 million.
The decline was driven by reduced customer activity across all segments and sectors, the company said.
"We remain focused on our long-term strategy of taking care of customers and growing market share as well as managing this cycle by reducing costs and continuing to strengthen our balance sheet," CEO Andrew R. Lane said in a statement.
"While we expect 2016 to also be challenging, MRC Global is positioned to perform well through the cycle," he added.
The company is a global industrial distributor of pipe, valves and fittings and related products and services to the energy industry.
About 4.83 million of MRC Global's shares were traded by this afternoon, compared to its average volume of 2.32 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C- on the stock.
The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations.
As a counter to these strengths, the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: MRC