secwatch.observer — SEC 8-K summary
======================================

Issuer:     MUELLER INDUSTRIES INC (MLI)
CIK:        0000089439
Form:       8-K
Filed at:   2023-07-25T23:59:59+00:00
Accession:  0000089439-23-000050
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/89439/000008943923000050/0000089439-23-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/89439/000008943923000050/mli-20230725.htm
  HTML page:      https://secwatch.observer/filing/0000089439-23-000050

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer