Mueller Industries Q4 net income down 14.2% to $119.2M; EPS $1.05

MUELLER INDUSTRIES INC

2023-FY EPS reported $5.30 revenue$3,420,345,000

Q4 net sales $732.4M (-16.5% YoY); net income $119.2M (-14.2%); diluted EPS $1.05.
Full year 2023 net sales $3.4B (-14.1% YoY); net income $602.9M (-8.4%); EPS $5.30.
Operating cash flow $174.3M in Q4, $672.8M for year; cash & short-term investments $1.3B.
Recorded $11.6M reserve for pending legal matter at unconsolidated affiliate Tecumseh Products Co.
Tornado-related insurance recovery on Covington, TN operations expected in H2 2024.

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 1.0

MUELLER INDUSTRIES INC reported Full Year 2023 results: revenue $3.4 billion, net income $602.9 million, EPS $5.30.

Period: Full Year 2023
Revenue: $3.4 billion
Net income: $602.9 million
EPS: $5.30
Result: reported results

Exact text from the filing

For the Full Year 2023 versus the Full Year 2022: • Net income: $602.9 million vs $658.3 million, down 8.4%. • Earnings before taxes: $845.2 million vs $876.0 million, down 3.5%. • Net sales: $3.4 billion vs $4.0 billion, down 14.1%. • Diluted EPS: $5.30 vs $5.82, down 8.9%.

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MUELLER INDUSTRIES INC reported Fourth Quarter 2023 results: revenue $732.4 million, net income $119.2 million, EPS $1.05.

Period: Fourth Quarter 2023
Revenue: $732.4 million
Net income: $119.2 million
EPS: $1.05
Result: reported results

Exact text from the filing

For the Fourth Quarter 2023 versus Four th Quarter 2022: • Net income: $119.2 million vs $138.9 million, down 14.2%. • Earnings before taxes: $177.9 million vs $185.9 million, down 4.3%. • Net sales: $732.4 million vs $877.6 million, down 16.5%. • Diluted EPS: $1.05 vs $1.23, down 14.6%.

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Source: SEC EDGAR

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