Mueller Industries Q2 2024 EPS falls to $1.41 from $1.56; revenue up 11% to $997.7M

MUELLER INDUSTRIES INC

2024-Q2 EPS reported $2.62 revenue$1,847,399,000

Q2 net sales $997.7M (+11.2% YoY); diluted EPS $1.41 vs $1.56 (-9.6%).
Operating income $210.0M flat; excluding $19.5M prior-year insurance gain, adjusted operating income rose 9.8%.
Cash from ops $100.8M; cash $825.7M; deployed $566.6M for acquisitions and $15.1M in stock buybacks.
Completed acquisition of Nehring Electrical Works during quarter; CEO expects expansion in energy infrastructure space.
COMEX copper average $4.55/lb, up 18.4% YoY; company cites persistent inflation and restrained construction.

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