MRC Global Inc. (NYSE:MRC) is looking for M&A. Robert Saltiel, President and CEO said, "Because we were getting questions a year ago on capital allocation, and those who will remember or pull up the transcripts will recall that we said we need to demonstrate that we will generate cash even as the business grows. Well, it looks like we're doing that. And the fact that we're able to generate cash across the cycle gives us more financial flexibility.

We would really like to get back to M&A to grow this company. This company hasn't done any significant M&A since 2014. We want to be thoughtful about how we grow our business, we want to make sure that we're getting into businesses that we feel like we can compete with, effectively, we can add value to based on our existing either product mix, customer mix, geography, what have you.

But we want to make sure that we're very disciplined about that M&A. We haven't had really the flexibility to think about M&A in a big way because we've been heavily levered. We think that's actually been a detriment to the company's ability to trade in the market because people were concerned about overleveraged, especially as we were going into the pandemic. But this company will now have more financial flexibility going into '24 than we will have had probably in our entire existence as a public company.

And we will continue to scan the market for attractive M&A for ways to profitably grow our business".