secwatch.observer — SEC 8-K summary
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Issuer:     MUELLER INDUSTRIES INC (MLI)
CIK:        0000089439
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0000089439-24-000021
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/89439/000008943924000021/0000089439-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/89439/000008943924000021/mli-20240423.htm
  HTML page:      https://secwatch.observer/filing/0000089439-24-000021

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