Mueller Industries, Inc. Reports Fiscal 2024 Fourth Quarter and Full Year Results
Mueller Industries (NYSE: MLI) reported strong Q4 2024 results with net sales reaching $923.5 million, up 26.1% from Q4 2023. The company's Q4 operating income increased 26.0% to $170.3 million, while net income rose 15.4% to $137.7 million. Full-year 2024 performance showed net sales of $3.8 billion (up 10.2%), with operating income at $770.4 million (up 1.9%).
The quarterly sales growth was driven by acquisitions completed in H2 2024, improved unit volume in U.S. construction products, and higher selling prices due to a 13% increase in COMEX copper prices. The company generated $645.9 million in operating cash flow for the year, ending with $1.06 billion in cash and short-term investments. The integration of Nehring Electrical Works and Elkhart Products acquisitions was completed, with positive contributions expected in 2025.
Mueller Industries (NYSE: MLI) ha riportato risultati solidi per il quarto trimestre del 2024, con vendite nette che hanno raggiunto i 923,5 milioni di dollari, in aumento del 26,1% rispetto al quarto trimestre del 2023. Il reddito operativo dell'azienda nel quarto trimestre è aumentato del 26,0% a 170,3 milioni di dollari, mentre il reddito netto è salito del 15,4% a 137,7 milioni di dollari. Le performance dell'anno completo del 2024 hanno mostrato vendite nette di 3,8 miliardi di dollari (in aumento del 10,2%), con un reddito operativo di 770,4 milioni di dollari (in aumento dell'1,9%).
La crescita delle vendite trimestrali è stata sostenuta dalle acquisizioni completate nel secondo semestre del 2024, da un volume unitario migliorato nei prodotti da costruzione statunitensi e da prezzi di vendita più elevati grazie a un aumento del 13% dei prezzi del rame COMEX. L'azienda ha generato 645,9 milioni di dollari in flusso di cassa operativo per l'anno, chiudendo con 1,06 miliardi di dollari in contante e investimenti a breve termine. L'integrazione delle acquisizioni di Nehring Electrical Works e Elkhart Products è stata completata, con contributi positivi attesi nel 2025.
Mueller Industries (NYSE: MLI) reportó sólidos resultados en el cuarto trimestre de 2024, con ventas netas alcanzando los 923,5 millones de dólares, un aumento del 26,1% en comparación con el cuarto trimestre de 2023. El ingreso operativo de la compañía en el cuarto trimestre aumentó un 26,0% a 170,3 millones de dólares, mientras que el ingreso neto creció un 15,4% a 137,7 millones de dólares. El rendimiento del año completo 2024 mostró ventas netas de 3,8 mil millones de dólares (un aumento del 10,2%), con un ingreso operativo de 770,4 millones de dólares (un aumento del 1,9%).
El crecimiento de las ventas trimestrales fue impulsado por adquisiciones completadas en el segundo semestre de 2024, un volumen unitario mejorado en productos de construcción de EE. UU. y precios de venta más altos debido a un aumento del 13% en los precios del cobre COMEX. La compañía generó 645,9 millones de dólares en flujo de efectivo operativo durante el año, cerrando con 1,06 mil millones de dólares en efectivo e inversiones a corto plazo. La integración de las adquisiciones de Nehring Electrical Works y Elkhart Products se completó, con contribuciones positivas esperadas para 2025.
Mueller Industries (NYSE: MLI)는 2024년 4분기 실적을 발표하며 순매출이 9억 2,350만 달러에 달해 2023년 4분기 대비 26.1% 증가했다고 보고했습니다. 회사의 4분기 운영 소득은 26.0% 증가한 1억 7,030만 달러에 이르렀고, 순소득은 15.4% 증가한 1억 3,770만 달러로 늘었습니다. 2024년 전체 성과는 순매출이 38억 달러(10.2% 증가)였으며, 운영 소득은 7억 7,040만 달러(1.9% 증가)로 나타났습니다.
분기 매출 성장은 2024년 하반기에 완료된 인수, 미국 건설 제품의 단위 판매량 증가 및 COMEX 구리 가격의 13% 상승에 따른 판매 가격 인상에 의해 주도되었습니다. 이 회사는 연간 6억 4,590만 달러의 운영 현금 흐름을 창출하였으며, 10억 6천만 달러의 현금 및 단기 투자로 마감하였습니다. Nehring Electrical Works와 Elkhart Products의 인수가 완료되었으며, 2025년에는 긍정적인 기여가 기대됩니다.
Mueller Industries (NYSE: MLI) a annoncé de solides résultats pour le quatrième trimestre 2024, avec des ventes nettes atteignant 923,5 millions de dollars, en hausse de 26,1 % par rapport au quatrième trimestre 2023. Le revenu opérationnel de l'entreprise a augmenté de 26,0 % pour atteindre 170,3 millions de dollars, tandis que le revenu net a augmenté de 15,4 % pour atteindre 137,7 millions de dollars. La performance de l'année complète 2024 a montré des ventes nettes de 3,8 milliards de dollars (en hausse de 10,2 %), avec un revenu opérationnel de 770,4 millions de dollars (en hausse de 1,9 %).
La croissance des ventes trimestrielles a été soutenue par des acquisitions réalisées au second semestre 2024, l'amélioration du volume unitaire dans les produits de construction américains et des prix de vente plus élevés en raison d'une augmentation de 13 % des prix du cuivre COMEX. L'entreprise a généré 645,9 millions de dollars de flux de trésorerie opérationnel pour l'année, se terminant avec 1,06 milliard de dollars en liquidités et investissements à court terme. L'intégration des acquisitions de Nehring Electrical Works et Elkhart Products a été achevée, avec des contributions positives attendues pour 2025.
Mueller Industries (NYSE: MLI) hat starke Ergebnisse für das vierte Quartal 2024 gemeldet, mit Nettoumsätzen von 923,5 Millionen US-Dollar, was einem Anstieg von 26,1 % im Vergleich zum vierten Quartal 2023 entspricht. Das Betriebsergebnis des Unternehmens stieg im vierten Quartal um 26,0 % auf 170,3 Millionen US-Dollar, während der Nettogewinn um 15,4 % auf 137,7 Millionen US-Dollar anstieg. Die Gesamtjahresleistung 2024 zeigte Nettoumsätze von 3,8 Milliarden US-Dollar (ein Anstieg um 10,2 %), mit einem Betriebsergebnis von 770,4 Millionen US-Dollar (ein Anstieg um 1,9 %).
Das Umsatzwachstum im Quartal wurde durch im zweiten Halbjahr 2024 abgeschlossene Akquisitionen, ein verbessertes Stückvolumen bei US-Bauprodukten und höhere Verkaufspreise aufgrund eines Anstiegs der COMEX-Kupferpreise um 13 % vorangetrieben. Das Unternehmen erwirtschaftete im Laufe des Jahres 645,9 Millionen US-Dollar an operativem Cashflow und schloss mit 1,06 Milliarden US-Dollar in bar und kurzfristigen Investitionen ab. Die Integration der Akquisitionen von Nehring Electrical Works und Elkhart Products wurde abgeschlossen, mit positiven Beiträgen, die für 2025 erwartet werden.
- Q4 net sales increased 26.1% to $923.5 million
- Q4 operating income grew 26.0% to $170.3 million
- Strong cash position with $1.06 billion in cash and short-term investments
- Generated $645.9 million in operating cash flow for 2024
- Successful integration of two major acquisitions
- Minimal full-year EPS growth of 0.2%
- $10.7 million non-cash expense from acquisition-related accounting adjustments
- Acquired businesses did not contribute to Q4 operating income
Insights
Mueller Industries' Q4 2024 results reveal a company executing exceptionally well on multiple fronts. The 26.1% revenue growth to
The company's financial position is remarkably strong, with
Strategic acquisitions of Nehring Electrical Works and Elkhart Products, while creating a
The 13% higher COMEX copper prices contributed to revenue growth, but the company's ability to maintain margin stability despite commodity price fluctuations demonstrates effective pricing power and cost management. The focus on U.S. manufacturing amid evolving trade policies could provide a competitive advantage, particularly in securing government contracts and benefiting from potential reshoring initiatives.
Looking ahead, Mueller's strong cash position and strategic focus on infrastructure and nonferrous metals manufacturing suggest potential for both organic growth and strategic M&A activity in 2025. The company's operational excellence, evidenced by consistent margin performance and strong cash generation, provides a solid foundation for executing these growth initiatives.
For the Fourth Quarter 2024 versus Fourth Quarter 2023:
• Net sales: |
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• Operating income: |
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• Net income: |
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• Diluted EPS: |
For the Full Year 2024 versus the Full Year 2023:
• Net sales: |
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• Operating income: |
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• Net income: |
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• Diluted EPS: |
Financial and Operating Commentary:
-
The quarter over quarter increase in net sales of
$191.2 million U.S. construction related products. Higher net selling prices also contributed to the increase in net sales, as COMEX copper averaged$4.22 13% higher than the prior year period. -
The fourth quarter results include
$10.7 million -
The Company generated
$140.1 million $645.9 million -
Year-end cash and short-term investments totaled
$1.06 billion
Regarding the results, Greg Christopher, Mueller’s CEO said, “We ended 2024 on a very positive note, and in terms of quarter over quarter operating income performance, the fourth quarter was our strongest of the year. Despite subdued conditions, 2024 was a very solid year, as evidenced by our strong operational cash generation. Moreover, by year end, we successfully completed the integration of our Nehring Electrical Works and Elkhart Products acquisitions. Although they did not contribute to our fourth quarter operating income, we are excited about their progress and market position, and expect they will be important contributors in 2025.”
He added, “We enter 2025 with a number of promising initiatives underway, and are committed to reinvesting to strengthen and improve our core operations. In addition, we continue to search for acquisitions that will expand our infrastructure products platforms and provide opportunities to increase our capabilities, particularly in nonferrous metals manufacturing.
We believe that while the impact of the new administration’s trade and regulatory policies will take time, they will ultimately prove beneficial to our business. Our concentration in the
Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; energy transmission; medical; aerospace and automotive. It includes a network of companies and brands throughout
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Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) |
|||||||||||||||
|
For the Quarter Ended |
|
For the Year Ended |
||||||||||||
(In thousands, except per share data) |
December 28, 2024 |
|
December 30, 2023 |
|
December 28, 2024 |
|
December 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Net sales |
$ |
923,536 |
|
|
$ |
732,377 |
|
|
$ |
3,768,766 |
|
|
$ |
3,420,345 |
|
|
|
|
|
|
|
|
|
||||||||
Cost of goods sold |
|
668,166 |
|
|
|
536,383 |
|
|
|
2,724,328 |
|
|
|
2,433,511 |
|
Depreciation and amortization |
|
22,236 |
|
|
|
9,250 |
|
|
|
53,133 |
|
|
|
39,954 |
|
Selling, general, and administrative expense |
|
64,703 |
|
|
|
51,184 |
|
|
|
226,696 |
|
|
|
208,172 |
|
Gain on sale of businesses |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(4,137 |
) |
Gain on sale of assets, net |
|
(1,827 |
) |
|
|
— |
|
|
|
(5,780 |
) |
|
|
— |
|
Impairment charges |
|
— |
|
|
|
324 |
|
|
|
— |
|
|
|
6,258 |
|
Gain on insurance settlement |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(19,466 |
) |
|
|
|
|
|
|
|
|
||||||||
Operating income |
|
170,258 |
|
|
|
135,236 |
|
|
|
770,389 |
|
|
|
756,053 |
|
|
|
|
|
|
|
|
|
||||||||
Interest expense |
|
(75 |
) |
|
|
(713 |
) |
|
|
(410 |
) |
|
|
(1,221 |
) |
Interest income |
|
10,695 |
|
|
|
13,642 |
|
|
|
53,468 |
|
|
|
38,208 |
|
Realized and unrealized gains on short-term investments |
|
385 |
|
|
|
21,503 |
|
|
|
914 |
|
|
|
41,865 |
|
Gain on extinguishment of NMTC liability |
|
1,265 |
|
|
|
7,534 |
|
|
|
1,265 |
|
|
|
7,534 |
|
Environmental (expense) income |
|
(542 |
) |
|
|
202 |
|
|
|
(2,218 |
) |
|
|
(825 |
) |
Other (expense) income, net |
|
(3,774 |
) |
|
|
471 |
|
|
|
(2,946 |
) |
|
|
3,618 |
|
|
|
|
|
|
|
|
|
||||||||
Income before income taxes |
|
178,212 |
|
|
|
177,875 |
|
|
|
820,462 |
|
|
|
845,232 |
|
|
|
|
|
|
|
|
|
||||||||
Income tax expense |
|
(45,670 |
) |
|
|
(46,440 |
) |
|
|
(205,076 |
) |
|
|
(220,762 |
) |
Income (loss) from unconsolidated affiliates, net of foreign tax |
|
8,061 |
|
|
|
(12,139 |
) |
|
|
2,156 |
|
|
|
(14,821 |
) |
|
|
|
|
|
|
|
|
||||||||
Consolidated net income |
|
140,603 |
|
|
|
119,296 |
|
|
|
617,542 |
|
|
|
609,649 |
|
|
|
|
|
|
|
|
|
||||||||
Net income attributable to noncontrolling interests |
|
(2,951 |
) |
|
|
(58 |
) |
|
|
(12,663 |
) |
|
|
(6,752 |
) |
|
|
|
|
|
|
|
|
||||||||
Net income attributable to Mueller Industries, Inc. |
$ |
137,652 |
|
|
$ |
119,238 |
|
|
$ |
604,879 |
|
|
$ |
602,897 |
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares for basic earnings per share |
|
111,545 |
|
|
|
111,556 |
|
|
|
111,385 |
|
|
|
111,420 |
|
Effect of dilutive stock-based awards |
|
2,415 |
|
|
|
2,425 |
|
|
|
2,580 |
|
|
|
2,242 |
|
|
|
|
|
|
|
|
|
||||||||
Adjusted weighted average shares for diluted earnings per share |
|
113,960 |
|
|
|
113,981 |
|
|
|
113,965 |
|
|
|
113,662 |
|
|
|
|
|
|
|
|
|
||||||||
Basic earnings per share |
$ |
1.23 |
|
|
$ |
1.07 |
|
|
$ |
5.43 |
|
|
$ |
5.41 |
|
|
|
|
|
|
|
|
|
||||||||
Diluted earnings per share |
$ |
1.21 |
|
|
$ |
1.05 |
|
|
$ |
5.31 |
|
|
$ |
5.30 |
|
|
|
|
|
|
|
|
|
||||||||
Dividends per share |
$ |
0.20 |
|
|
$ |
0.15 |
|
|
$ |
0.80 |
|
|
$ |
0.60 |
|
|
|
|
|
|
|
|
|
||||||||
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME, CONTINUED (Unaudited) |
|||||||||||||||
|
For the Quarter Ended |
|
For the Year Ended |
||||||||||||
(In thousands) |
December 28, 2024 |
|
December 30, 2023 |
|
December 28, 2024 |
|
December 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Summary Segment Data: |
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Net sales: |
|
|
|
|
|
|
|
||||||||
Piping Systems Segment |
$ |
592,834 |
|
|
$ |
513,938 |
|
|
$ |
2,514,096 |
|
|
$ |
2,382,573 |
|
Industrial Metals Segment |
|
229,017 |
|
|
|
125,363 |
|
|
|
818,439 |
|
|
|
577,875 |
|
Climate Segment |
|
112,622 |
|
|
|
103,933 |
|
|
|
488,446 |
|
|
|
500,790 |
|
Elimination of intersegment sales |
|
(10,937 |
) |
|
|
(10,857 |
) |
|
|
(52,215 |
) |
|
|
(40,893 |
) |
|
|
|
|
|
|
|
|
||||||||
Net sales |
$ |
923,536 |
|
|
$ |
732,377 |
|
|
$ |
3,768,766 |
|
|
$ |
3,420,345 |
|
|
|
|
|
|
|
|
|
||||||||
Operating income: |
|
|
|
|
|
|
|
||||||||
Piping Systems Segment |
$ |
148,912 |
|
|
$ |
113,634 |
|
|
$ |
617,451 |
|
|
$ |
569,239 |
|
Industrial Metals Segment |
|
14,399 |
|
|
|
14,972 |
|
|
|
92,560 |
|
|
|
76,379 |
|
Climate Segment |
|
33,718 |
|
|
|
25,963 |
|
|
|
146,054 |
|
|
|
171,864 |
|
Unallocated expenses |
|
(26,771 |
) |
|
|
(19,333 |
) |
|
|
(85,676 |
) |
|
|
(61,429 |
) |
|
|
|
|
|
|
|
|
||||||||
Operating income |
$ |
170,258 |
|
|
$ |
135,236 |
|
|
$ |
770,389 |
|
|
$ |
756,053 |
|
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) |
|||||
(In thousands) |
December 28, 2024 |
|
December 30, 2023 |
||
ASSETS |
|
|
|
||
Cash and cash equivalents |
$ |
1,037,229 |
|
$ |
1,170,893 |
Short-term investments |
|
21,874 |
|
|
98,146 |
Accounts receivable, net |
|
450,113 |
|
|
351,561 |
Inventories |
|
462,279 |
|
|
380,248 |
Other current assets |
|
40,734 |
|
|
39,173 |
|
|
|
|
||
Total current assets |
|
2,012,229 |
|
|
2,040,021 |
|
|
|
|
||
Property, plant, and equipment, net |
|
515,131 |
|
|
385,165 |
Operating lease right-of-use assets |
|
32,702 |
|
|
35,170 |
Other assets |
|
730,844 |
|
|
298,945 |
|
|
|
|
||
|
$ |
3,290,906 |
|
$ |
2,759,301 |
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
||
Current portion of debt |
$ |
1,094 |
|
$ |
796 |
Accounts payable |
|
173,743 |
|
|
120,485 |
Current portion of operating lease liabilities |
|
8,117 |
|
|
7,893 |
Other current liabilities |
|
215,033 |
|
|
187,964 |
|
|
|
|
||
Total current liabilities |
|
397,987 |
|
|
317,138 |
|
|
|
|
||
Long-term debt |
|
— |
|
|
185 |
Pension and postretirement liabilities |
|
11,199 |
|
|
12,062 |
Environmental reserves |
|
15,423 |
|
|
15,030 |
Deferred income taxes |
|
25,742 |
|
|
19,134 |
Noncurrent operating lease liabilities |
|
24,547 |
|
|
26,683 |
Other noncurrent liabilities |
|
11,600 |
|
|
10,353 |
|
|
|
|
||
Total liabilities |
|
486,498 |
|
|
400,585 |
|
|
|
|
||
Total Mueller Industries, Inc. stockholders’ equity |
|
2,773,165 |
|
|
2,337,445 |
Noncontrolling interests |
|
31,243 |
|
|
21,271 |
|
|
|
|
||
Total equity |
|
2,804,408 |
|
|
2,358,716 |
|
|
|
|
||
|
$ |
3,290,906 |
|
$ |
2,759,301 |
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
|||||||
|
For the Year Ended |
||||||
(In thousands) |
December 28, 2024 |
|
December 30, 2023 |
||||
|
|
|
|
||||
Cash flows from operating activities |
|
|
|
||||
Consolidated net income |
$ |
617,542 |
|
|
$ |
609,649 |
|
Reconciliation of consolidated net income to net cash provided by operating activities: |
|
|
|
||||
Depreciation and amortization |
|
53,376 |
|
|
|
40,824 |
|
Stock-based compensation expense |
|
26,787 |
|
|
|
23,131 |
|
Provision for doubtful accounts receivable |
|
1,147 |
|
|
|
(84 |
) |
(Income) loss from unconsolidated affiliates |
|
(2,156 |
) |
|
|
14,821 |
|
Dividends from unconsolidated affiliates |
|
4,769 |
|
|
|
— |
|
Gain on sale of businesses |
|
— |
|
|
|
(4,137 |
) |
Unrealized gain on short-term investments |
|
(549 |
) |
|
|
(24,765 |
) |
Gain on disposals of assets |
|
(5,780 |
) |
|
|
(1 |
) |
Insurance proceeds - noncapital related |
|
18,900 |
|
|
|
9,854 |
|
Gain on sale of securities |
|
(365 |
) |
|
|
(17,100 |
) |
Gain on insurance settlement |
|
— |
|
|
|
(19,466 |
) |
Impairment charges |
|
— |
|
|
|
6,258 |
|
Gain on extinguishment of NMTC liability |
|
(1,265 |
) |
|
|
(7,534 |
) |
Deferred income tax (benefit) expense |
|
(867 |
) |
|
|
4,790 |
|
Changes in assets and liabilities, net of effects of businesses acquired: |
|
|
|
||||
Receivables |
|
(56,565 |
) |
|
|
30,915 |
|
Inventories |
|
(32,768 |
) |
|
|
67,903 |
|
Other assets |
|
(1,046 |
) |
|
|
(20,700 |
) |
Current liabilities |
|
24,360 |
|
|
|
(40,606 |
) |
Other liabilities |
|
(1,145 |
) |
|
|
(3,497 |
) |
Other, net |
|
1,533 |
|
|
|
2,511 |
|
|
|
|
|
||||
Net cash provided by operating activities |
|
645,908 |
|
|
|
672,766 |
|
|
|
|
|
||||
Cash flows from investing activities |
|
|
|
||||
Proceeds from sale of assets, net of cash transferred |
|
12,005 |
|
|
|
279 |
|
Purchase of short-term investments |
|
(21,325 |
) |
|
|
(106,231 |
) |
Purchase of long-term investments |
|
(6,785 |
) |
|
|
— |
|
Proceeds from the sale of securities |
|
98,465 |
|
|
|
55,454 |
|
Proceeds from the maturity of short-term investments |
|
— |
|
|
|
217,863 |
|
Acquisition of businesses, net of cash acquired |
|
(602,692 |
) |
|
|
— |
|
Capital expenditures |
|
(80,203 |
) |
|
|
(54,025 |
) |
Insurance proceeds - capital related |
|
6,100 |
|
|
|
24,646 |
|
Dividends from unconsolidated affiliates |
|
— |
|
|
|
1,093 |
|
Issuance of notes receivable |
|
(3,800 |
) |
|
|
— |
|
Investments in unconsolidated affiliates |
|
(8,700 |
) |
|
|
(3,999 |
) |
|
|
|
|
||||
Net cash (used in) provided by investing activities |
|
(606,935 |
) |
|
|
135,080 |
|
|
|
|
|
||||
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS, CONTINUED (Unaudited) |
|||||||
|
For the Year Ended |
||||||
(In thousands) |
December 28, 2024 |
|
December 30, 2023 |
||||
|
|
|
|
||||
Cash flows from financing activities |
|
|
|
||||
Dividends paid to stockholders of Mueller Industries, Inc. |
|
(89,107 |
) |
|
|
(66,868 |
) |
Dividends paid to noncontrolling interests |
|
— |
|
|
|
(9,312 |
) |
Repayments of long-term debt |
|
(222 |
) |
|
|
(241 |
) |
Issuance (repayment) of debt by consolidated joint ventures, net |
|
397 |
|
|
|
(30 |
) |
Repurchase of common stock |
|
(48,681 |
) |
|
|
(19,303 |
) |
Net cash used to settle stock-based awards |
|
(22,865 |
) |
|
|
(8,755 |
) |
|
|
|
|
||||
Net cash used in financing activities |
|
(160,478 |
) |
|
|
(104,509 |
) |
|
|
|
|
||||
Effect of exchange rate changes on cash |
|
(13,823 |
) |
|
|
5,590 |
|
|
|
|
|
||||
(Decrease) increase in cash, cash equivalents, and restricted cash |
|
(135,328 |
) |
|
|
708,927 |
|
Cash, cash equivalents, and restricted cash at the beginning of the year |
|
1,174,223 |
|
|
|
465,296 |
|
|
|
|
|
||||
Cash, cash equivalents, and restricted cash at the end of the year |
$ |
1,038,895 |
|
|
$ |
1,174,223 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250203510446/en/
Jeffrey A. Martin
(901) 753-3226
Source: Mueller Industries, Inc.
FAQ
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