Mueller Industries Q2: operating income $210.7M, down 22% YoY; EPS $3.12 vs $3.65

MUELLER INDUSTRIES INC

2023-Q2 EPS reported $6.19 revenue$1,868,176,000

Net sales $897M, down 22% from $1.15B, driven by demand normalization and 11% lower COMEX copper.
Operating income $210.7M vs $268.9M; net income $177.7M; diluted EPS $3.12 vs $3.65.
Tornado damaged copper fitting plant; brass rod fire disrupted production for three weeks during quarter.
Westermeyer fire insurance settlement recorded $19.5M gain; plant operates at 80-85% pre-fire capacity.
Cash and ST investments $898.4M, up $116M; current ratio increased to 5.4:1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MUELLER INDUSTRIES INC reported the quarter ended July 1, 2023 results: revenue $897.0 million, net income $177.7 million, EPS $3.12.

Period: the quarter ended July 1, 2023
Revenue: $897.0 million
Net income: $177.7 million
EPS: $3.12
Result: reported results

Exact text from the filing

Mueller Industries, Inc. Reports Second Quarter 2023 Earnings COLLIERVILLE, Tenn., July 25, 2023 -- Mueller Industries, Inc. (NYSE: MLI) announces results for the second quarter of 2023. Comparisons are to the second quarter of 2022, which, for context, yielded the highest quarterly earnings on record and a 70 percent increase in operating income over the same period in 2021. • Operating Income of $210.7 million versus $268.9 million • Net Income of $177.7 million versus $206.6 million • Diluted EPS of $3.12 versus $3.65 • Net Sales of $897.0 million versus $1.15 billion

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Source: SEC EDGAR

accession 0000089439-23-000050

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