Mueller Q1 net income $138.4M ($1.21 EPS), sales $849.7M, declines YoY

MUELLER INDUSTRIES INC

2024-Q1 EPS reported $1.21 revenue$849,654,000

Net income down 20% to $138.4M from $173.2M; diluted EPS $1.21 vs $1.54 YoY.
Net sales $849.7M, down 12.5% from $971.2M, on lower residential demand and copper prices.
COMEX copper average $3.86/lb (-5.6%); Tecumseh investment loss of $10.3M.
Cash from operations $173.6M; cash balance $1.36B; current ratio 6.0x.
CEO expects demand rebound; completing acquisition of Nehring Electrical Works.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MUELLER INDUSTRIES INC reported first quarter of 2024 results: revenue $849.7 million, net income $138.4 million, EPS $1.21.

Period: first quarter of 2024
Revenue: $849.7 million
Net income: $138.4 million
EPS: $1.21
Result: reported results

Exact text from the filing

Comparisons are to the first quarter of 2023. • Net Income of $138.4 million versus $173.2 million • Earnings Before Taxes of $201.6 million versus $237.4 million • Net Sales of $849.7 million versus $971.2 million • Diluted EPS* of $1.21 versus $1.54 (*adjusted retroactively to reflect the two-for-one stock split that took effect on October 20, 2023) First Quarter

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493 earnings releases filed in the last 30 days. Browse all earnings releases →

MUELLER INDUSTRIES INC filing history →

Source: SEC EDGAR

accession 0000089439-24-000021

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