Mueller Industries, Inc. Reports Third Quarter 2024 Earnings
Mueller Industries, Inc. (NYSE: MLI) reported strong third quarter 2024 results. Net sales increased to $997.8 million from $819.8 million in Q3 2023, while operating income rose to $206.7 million from $181.0 million. Net income grew to $168.7 million, with diluted EPS reaching $1.48.
The company's performance was boosted by recently acquired businesses contributing $102.4 million in sales. COMEX copper prices averaged 12.0% higher than the previous year. Despite generally restrained business conditions, Mueller generated significant cash, with a quarter-end balance of $969.6 million in cash and short-term investments.
CEO Greg Christopher expressed optimism about future prospects, citing anticipated declining interest rates and moderating inflation as potential catalysts for a more favorable business environment.
Mueller Industries, Inc. (NYSE: MLI) ha riportato risultati solidi per il terzo trimestre del 2024. Le vendite nette sono aumentate a 997,8 milioni di dollari rispetto ai 819,8 milioni del Q3 2023, mentre il reddito operativo è salito a 206,7 milioni di dollari rispetto ai 181,0 milioni. Il reddito netto è cresciuto a 168,7 milioni di dollari, con un EPS diluito che ha raggiunto 1,48 dollari.
Le performance dell'azienda sono state alimentate da recenti acquisizioni che hanno contribuito con 102,4 milioni di dollari in vendite. I prezzi del rame COMEX sono stati mediamente superiori del 12,0% rispetto all'anno precedente. Nonostante condizioni commerciali generalmente contenute, Mueller ha generato un significativo flusso di cassa, con un saldo a fine trimestre di 969,6 milioni di dollari in contante e investimenti a breve termine.
Il CEO Greg Christopher ha espresso ottimismo riguardo alle prospettive future, citando l'anticipazione di tassi d'interesse in calo e un'inflazione moderata come potenziali catalizzatori per un ambiente commerciale più favorevole.
Mueller Industries, Inc. (NYSE: MLI) reportó resultados sólidos para el tercer trimestre de 2024. Las ventas netas aumentaron a 997,8 millones de dólares desde 819,8 millones en el Q3 2023, mientras que el ingreso operativo creció a 206,7 millones desde 181,0 millones. El ingreso neto aumentó a 168,7 millones, con un EPS diluido que alcanzó 1,48 dólares.
El desempeño de la compañía se vio impulsado por negocios recientemente adquiridos, que contribuyeron con 102,4 millones de dólares en ventas. Los precios del cobre COMEX promediaron un 12,0% más que el año anterior. A pesar de las condiciones comerciales generalmente contenidas, Mueller generó un flujo de efectivo significativo, con un saldo al final del trimestre de 969,6 millones de dólares en efectivo e inversiones a corto plazo.
El CEO Greg Christopher expresó optimismo sobre las perspectivas futuras, citando las tasas de interés descendentes anticipadas y una inflación moderada como catalizadores potenciales para un entorno comercial más favorable.
Mueller Industries, Inc. (NYSE: MLI)는 2024년 3분기 강력한 실적을 발표했습니다. 순매출은 Q3 2023년의 8억 1980만 달러에서 9억 9780만 달러로 증가했으며, 영업 소득은 1억 8100만 달러에서 2억 6700만 달러로 상승했습니다. 순이익은 1억 6870만 달러로 증가했으며, 희석 주당순이익은 1.48달러에 도달했습니다.
회사의 실적은 최근 인수한 사업이 1억 240만 달러의 매출에 기여하면서 향상되었습니다. COMEX 구리 가격은 전년 대비 평균 12.0% 높았습니다. 일반적으로 제한된 비즈니스 환경에도 불구하고, Mueller는 현금 흐름을 상당히 창출하여 분기 말 현금 및 단기 투자 잔액이 9억 6960만 달러에 달했습니다.
CEO Greg Christopher는 향후 전망에 대해 낙관적인 입장을 표명하며, 예상되는 금리 인하와 완화되는 인플레이션이 더 유리한 비즈니스 환경을 위한 잠재적인 촉매제가 될 것이라고 언급했습니다.
Mueller Industries, Inc. (NYSE: MLI) a connu de solides résultats au troisième trimestre 2024. Les ventes nettes ont augmenté pour atteindre 997,8 millions de dollars, contre 819,8 millions de dollars au T3 2023, tandis que le résultat d'exploitation a grimpé à 206,7 millions de dollars contre 181,0 millions de dollars. Le résultat net a crû à 168,7 millions de dollars, avec un BPA dilué atteignant 1,48 dollars.
La performance de l'entreprise a été soutenue par des acquisitions récentes qui ont contribué à 102,4 millions de dollars de ventes. Les prix du cuivre COMEX ont été en moyenne 12,0% plus élevés que l'année précédente. Malgré des conditions commerciales généralement prudentes, Mueller a généré des liquidités significatives, avec un solde à la fin du trimestre de 969,6 millions de dollars en espèces et investissements à court terme.
Le PDG Greg Christopher a exprimé un optimisme quant aux perspectives futures, évoquant des taux d'intérêt en baisse et une inflation modérée comme des catalyseurs potentiels pour un environnement commercial plus favorable.
Mueller Industries, Inc. (NYSE: MLI) berichtete über starke Ergebnisse im dritten Quartal 2024. Der Nettoumsatz stieg auf 997,8 Millionen USD, gegenüber 819,8 Millionen USD im Q3 2023, während der Betriebsgewinn auf 206,7 Millionen USD von 181,0 Millionen USD anstieg. Der Nettogewinn wuchs auf 168,7 Millionen USD, mit einem verwässerten EPS von 1,48 USD.
Die Leistung des Unternehmens wurde durch kürzlich erworbene Geschäftsfelder unterstützt, die 102,4 Millionen USD zum Umsatz beitrugen. Die COMEX Kupferpreise lagen im Durchschnitt 12,0% über dem Vorjahr. Trotz allgemein restriktiver Geschäftsbedingungen generierte Mueller erhebliche Barmittel, mit einem Quartalsendstand von 969,6 Millionen USD in bar und kurzfristigen Investitionen.
CEO Greg Christopher äußerte sich optimistisch über die zukünftigen Perspektiven und nannte erwartete sinkende Zinssätze und moderatere Inflation als potenzielle Katalysatoren für ein günstigeres Geschäftsklima.
- Net sales increased by 21.7% year-over-year to $997.8 million
- Operating income grew by 14.2% to $206.7 million
- Net income rose by 27.1% to $168.7 million
- Diluted EPS increased by 26.5% to $1.48
- Recently acquired businesses contributed $102.4 million in sales
- Strong cash position with $969.6 million in cash and short-term investments
- Current ratio remains strong at 4.9 to 1
- Net cash generated from operations was $231.4 million
- Selling, general, and administrative expenses increased due to acquired businesses and transaction-related costs
- Generally restrained business conditions during the quarter
Insights
Mueller Industries' Q3 2024 results show strong performance despite challenging market conditions. Net sales increased by 21.7% to
The company's financial health remains robust, with a cash balance of
Looking ahead, the company is well-positioned to capitalize on potential improvements in market conditions, such as declining interest rates and moderating inflation. Mueller's diverse portfolio serving essential markets and its ability to adapt quickly to changing conditions are key strengths that should support long-term growth prospects.
Mueller Industries' Q3 results reflect resilience in a challenging environment. The
The integration of acquired businesses contributing
Investors should note the company's proactive approach to market challenges and its readiness to capitalize on opportunities as economic conditions improve. The stock split in October 2023 may also enhance liquidity and attract a broader investor base.
-
Net Sales of
$997.8 million $819.8 million -
Operating Income of
$206.7 million $181.0 million -
Earnings Before Taxes of
$217.8 million $189.0 million -
Net Income of
$168.7 million $132.7 million -
Diluted EPS of
$1.48 $1.17
Third Quarter Financial and Operating Highlights:
-
COMEX copper averaged
$4.23 12.0% higher than in the third quarter of 2023. -
The increase in net sales was attributable to the inclusion of
$102.4 million -
Selling, general, and administrative expenses increased primarily due to the inclusion of
$3.9 million $2.7 million -
Investments in unconsolidated affiliates contributed
$3.2 million $2.4 million -
Net cash generated from operations was
$231.4 million $969.6 million
Regarding the quarter performance, Greg Christopher, Mueller’s CEO said, “We continued to deliver very good results, and generated significant cash despite generally restrained business conditions during the quarter. We also made substantial progress toward integrating our two recently acquired businesses, which both contributed positively to our results.”
He continued, “We anticipate that declining interest rates and moderating inflation, combined with the resolution of election related uncertainty, will create a more stable and favorable environment for us. We have an excellent portfolio of businesses serving essential markets; our operations are well capitalized; our balance sheet is strong; and we have proven capable of quickly adjusting and adapting as conditions require. As such, we remain well positioned to take advantage when conditions improve, and will continue to actively pursue new opportunities to expand and grow.”
| _____________________________ | |
1 |
Diluted EPS for the second quarter of 2023 has been adjusted retroactively to reflect the two-for-one stock split that took effect on October 20, 2023. |
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
********************* |
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 Nine Months Ended |
||||||||||||
(In thousands, except per share data) |
|
September 28, 2024 |
|
September 30, 2023 |
|
September 28, 2024 |
|
September 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Net sales |
|
$ |
997,831 |
|
|
$ |
819,792 |
|
|
$ |
2,845,230 |
|
|
$ |
2,687,968 |
|
|
|
|
|
|
|
|
|
|
||||||||
Cost of goods sold |
|
|
722,469 |
|
|
|
579,058 |
|
|
|
2,056,162 |
|
|
|
1,897,128 |
|
Depreciation and amortization |
|
|
11,710 |
|
|
|
9,631 |
|
|
|
30,897 |
|
|
|
30,704 |
|
Selling, general, and administrative expense |
|
|
59,619 |
|
|
|
48,295 |
|
|
|
161,993 |
|
|
|
156,988 |
|
Gain on sale of assets |
|
|
(2,667 |
) |
|
|
— |
|
|
|
(3,953 |
) |
|
|
— |
|
Gain on sale of business |
|
|
— |
|
|
|
(4,137 |
) |
|
|
— |
|
|
|
(4,137 |
) |
Asset impairments |
|
|
— |
|
|
|
5,934 |
|
|
|
— |
|
|
|
5,934 |
|
Gain on insurance settlement |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(19,466 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
|
|
206,700 |
|
|
|
181,011 |
|
|
|
600,131 |
|
|
|
620,817 |
|
|
|
|
|
|
|
|
|
|
||||||||
Interest expense |
|
|
(113 |
) |
|
|
(230 |
) |
|
|
(335 |
) |
|
|
(508 |
) |
Interest income |
|
|
11,145 |
|
|
|
10,599 |
|
|
|
42,773 |
|
|
|
24,566 |
|
Realized and unrealized gains (losses) on short-term investments |
|
|
164 |
|
|
|
(2,368 |
) |
|
|
529 |
|
|
|
20,362 |
|
Other (expense) income, net |
|
|
(122 |
) |
|
|
(47 |
) |
|
|
(848 |
) |
|
|
2,120 |
|
|
|
|
|
|
|
|
|
|
||||||||
Income before income taxes |
|
|
217,774 |
|
|
|
188,965 |
|
|
|
642,250 |
|
|
|
667,357 |
|
|
|
|
|
|
|
|
|
|
||||||||
Income tax expense |
|
|
(49,188 |
) |
|
|
(50,843 |
) |
|
|
(159,406 |
) |
|
|
(174,322 |
) |
Income (loss) from unconsolidated affiliates, net of foreign tax |
|
|
3,197 |
|
|
|
(2,413 |
) |
|
|
(5,905 |
) |
|
|
(2,682 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Consolidated net income |
|
|
171,783 |
|
|
|
135,709 |
|
|
|
476,939 |
|
|
|
490,353 |
|
|
|
|
|
|
|
|
|
|
||||||||
Net income attributable to noncontrolling interests |
|
|
(3,084 |
) |
|
|
(3,000 |
) |
|
|
(9,712 |
) |
|
|
(6,694 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Net income attributable to Mueller Industries, Inc. |
|
$ |
168,699 |
|
|
$ |
132,709 |
|
|
$ |
467,227 |
|
|
$ |
483,659 |
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted average shares for basic earnings per share (1) |
|
|
111,363 |
|
|
|
111,416 |
|
|
|
111,332 |
|
|
|
111,374 |
|
Effect of dilutive stock-based awards (1) |
|
|
2,412 |
|
|
|
2,452 |
|
|
|
2,635 |
|
|
|
2,182 |
|
|
|
|
|
|
|
|
|
|
||||||||
Adjusted weighted average shares for diluted earnings per share (1) |
|
|
113,775 |
|
|
|
113,868 |
|
|
|
113,967 |
|
|
|
113,556 |
|
|
|
|
|
|
|
|
|
|
||||||||
Basic earnings per share (1) |
|
$ |
1.51 |
|
|
$ |
1.19 |
|
|
$ |
4.20 |
|
|
$ |
4.34 |
|
|
|
|
|
|
|
|
|
|
||||||||
Diluted earnings per share (1) |
|
$ |
1.48 |
|
|
$ |
1.17 |
|
|
$ |
4.10 |
|
|
$ |
4.26 |
|
|
|
|
|
|
|
|
|
|
||||||||
Dividends per share (1) |
|
$ |
0.20 |
|
|
$ |
0.15 |
|
|
$ |
0.60 |
|
|
$ |
0.45 |
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Adjusted retroactively to reflect the two-for-one stock split that occurred on October 20, 2023. |
||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||
MUELLER INDUSTRIES, INC. |
||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME, CONTINUED |
||||||||||||||||
(Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
|
For the Quarter Ended |
|
For the Nine Months Ended |
||||||||||||
(In thousands) |
|
September 28, 2024 |
|
September 30, 2023 |
|
September 28, 2024 |
|
September 30, 2023 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Summary Segment Data: |
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Net sales: |
|
|
|
|
|
|
|
|
||||||||
Piping Systems Segment |
|
$ |
653,884 |
|
|
$ |
568,151 |
|
|
$ |
1,932,521 |
|
|
$ |
1,868,635 |
|
Industrial Metals Segment |
|
|
238,014 |
|
|
|
141,012 |
|
|
|
589,422 |
|
|
|
452,512 |
|
Climate Segment |
|
|
128,482 |
|
|
|
119,949 |
|
|
|
375,824 |
|
|
|
396,857 |
|
Elimination of intersegment sales |
|
|
(22,549 |
) |
|
|
(9,320 |
) |
|
|
(52,537 |
) |
|
|
(30,036 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Net sales |
|
$ |
997,831 |
|
|
$ |
819,792 |
|
|
$ |
2,845,230 |
|
|
$ |
2,687,968 |
|
|
|
|
|
|
|
|
|
|
||||||||
Operating income: |
|
|
|
|
|
|
|
|
||||||||
Piping Systems Segment |
|
$ |
163,601 |
|
|
$ |
140,609 |
|
|
$ |
468,539 |
|
|
$ |
455,605 |
|
Industrial Metals Segment |
|
|
24,197 |
|
|
|
16,221 |
|
|
|
78,161 |
|
|
|
61,407 |
|
Climate Segment |
|
|
40,768 |
|
|
|
34,846 |
|
|
|
112,336 |
|
|
|
145,901 |
|
Unallocated income (expenses) |
|
|
(21,866 |
) |
|
|
(10,665 |
) |
|
|
(58,905 |
) |
|
|
(42,096 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
|
$ |
206,700 |
|
|
$ |
181,011 |
|
|
$ |
600,131 |
|
|
$ |
620,817 |
|
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||
|
|
(Unaudited) |
|
|
||
(In thousands) |
|
September 28, 2024 |
|
December 30, 2023 |
||
ASSETS |
|
|
|
|
||
Cash and cash equivalents |
|
$ |
965,116 |
|
$ |
1,170,893 |
Short-term investments |
|
|
4,449 |
|
|
98,146 |
Accounts receivable, net |
|
|
500,617 |
|
|
351,561 |
Inventories |
|
|
400,252 |
|
|
380,248 |
Other current assets |
|
|
45,144 |
|
|
39,173 |
|
|
|
|
|
||
Total current assets |
|
|
1,915,578 |
|
|
2,040,021 |
|
|
|
|
|
||
Property, plant, and equipment, net |
|
|
506,234 |
|
|
385,165 |
Operating lease right-of-use assets |
|
|
32,202 |
|
|
35,170 |
Other assets |
|
|
752,118 |
|
|
298,945 |
|
|
|
|
|
||
Total assets |
|
$ |
3,206,132 |
|
$ |
2,759,301 |
|
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
||
Current portion of debt |
|
$ |
927 |
|
$ |
796 |
Accounts payable |
|
|
183,511 |
|
|
120,485 |
Current portion of operating lease liabilities |
|
|
7,681 |
|
|
7,893 |
Other current liabilities |
|
|
201,874 |
|
|
187,964 |
|
|
|
|
|
||
Total current liabilities |
|
|
393,993 |
|
|
317,138 |
|
|
|
|
|
||
Long-term debt |
|
|
19 |
|
|
185 |
Pension and postretirement liabilities |
|
|
12,082 |
|
|
12,062 |
Environmental reserves |
|
|
14,696 |
|
|
15,030 |
Deferred income taxes |
|
|
24,663 |
|
|
19,134 |
Noncurrent operating lease liabilities |
|
|
24,504 |
|
|
26,683 |
Other noncurrent liabilities |
|
|
27,539 |
|
|
10,353 |
|
|
|
|
|
||
Total liabilities |
|
|
497,496 |
|
|
400,585 |
|
|
|
|
|
||
Total Mueller Industries, Inc. stockholders’ equity |
|
|
2,678,382 |
|
|
2,337,445 |
Noncontrolling interests |
|
|
30,254 |
|
|
21,271 |
|
|
|
|
|
||
Total equity |
|
|
2,708,636 |
|
|
2,358,716 |
|
|
|
|
|
||
Total liabilities and equity |
|
$ |
3,206,132 |
|
$ |
2,759,301 |
MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
||||||||
|
|
For the Nine Months Ended |
||||||
(In thousands) |
|
September 28, 2024 |
|
September 30, 2023 |
||||
|
|
|
|
|
||||
Cash flows from operating activities |
|
|
|
|
||||
Consolidated net income |
|
$ |
476,939 |
|
|
$ |
490,353 |
|
Reconciliation of consolidated net income to net cash provided by operating activities: |
|
|
|
|
||||
Depreciation and amortization |
|
|
31,140 |
|
|
|
31,053 |
|
Stock-based compensation expense |
|
|
19,956 |
|
|
|
17,268 |
|
Provision for doubtful accounts receivable |
|
|
(262 |
) |
|
|
(63 |
) |
Loss from unconsolidated affiliates |
|
|
5,905 |
|
|
|
2,682 |
|
Dividends from unconsolidated affiliates |
|
|
4,130 |
|
|
|
— |
|
Insurance proceeds - noncapital related |
|
|
15,000 |
|
|
|
9,854 |
|
Gain on disposals of properties |
|
|
(3,953 |
) |
|
|
(106 |
) |
Gain on sale of business |
|
|
— |
|
|
|
(4,137 |
) |
Unrealized gain on short-term investments |
|
|
(164 |
) |
|
|
(18,449 |
) |
Gain on sales of securities |
|
|
(365 |
) |
|
|
— |
|
Impairment charges |
|
|
— |
|
|
|
5,934 |
|
Gain on insurance settlement |
|
|
— |
|
|
|
(19,466 |
) |
Deferred income tax expense |
|
|
1,837 |
|
|
|
3,803 |
|
Changes in assets and liabilities, net of effects of businesses acquired: |
|
|
|
|
||||
Receivables |
|
|
(99,281 |
) |
|
|
(36,855 |
) |
Inventories |
|
|
34,027 |
|
|
|
53,372 |
|
Other assets |
|
|
(3,175 |
) |
|
|
(12,897 |
) |
Current liabilities |
|
|
25,303 |
|
|
|
(25,503 |
) |
Other liabilities |
|
|
(2,467 |
) |
|
|
(1,828 |
) |
Other, net |
|
|
1,217 |
|
|
|
3,475 |
|
|
|
|
|
|
||||
Net cash provided by operating activities |
|
$ |
505,787 |
|
|
$ |
498,490 |
|
|
|
|
|
|
||||
Cash flows from investing activities |
|
|
|
|
||||
Capital expenditures |
|
$ |
(51,288 |
) |
|
$ |
(39,469 |
) |
Acquisition of businesses, net of cash acquired |
|
|
(602,692 |
) |
|
|
— |
|
Investments in unconsolidated affiliates |
|
|
(8,700 |
) |
|
|
(3,999 |
) |
Insurance proceeds - capital related |
|
|
— |
|
|
|
24,646 |
|
Purchase of short-term investments |
|
|
(4,285 |
) |
|
|
(106,231 |
) |
Purchase of long-term investments |
|
|
(7,976 |
) |
|
|
— |
|
Proceeds from the maturity of short-term investments |
|
|
— |
|
|
|
217,863 |
|
Proceeds from the sale of securities |
|
|
98,465 |
|
|
|
— |
|
Issuance of notes receivable |
|
|
(3,800 |
) |
|
|
— |
|
Proceeds from sales of properties |
|
|
9,026 |
|
|
|
214 |
|
Dividends from unconsolidated affiliates |
|
|
— |
|
|
|
1,093 |
|
|
|
|
|
|
||||
Net cash (used in) provided by investing activities |
|
$ |
(571,250 |
) |
|
$ |
94,117 |
|
|
|
|
|
|
||||
|
|
|
|
|
||||
MUELLER INDUSTRIES, INC. |
||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
(Unaudited) |
||||||||
|
|
|
|
|
||||
|
|
For the Nine Months Ended |
||||||
(In thousands) |
|
September 28, 2024 |
|
September 30, 2023 |
||||
|
|
|
|
|
||||
Cash flows from financing activities |
|
|
|
|
||||
Dividends paid to stockholders of Mueller Industries, Inc. |
|
$ |
(66,796 |
) |
|
$ |
(50,133 |
) |
Repurchase of common stock |
|
|
(48,681 |
) |
|
|
(19,303 |
) |
Repayments of debt |
|
|
(167 |
) |
|
|
(185 |
) |
Issuance (repayment) of debt by consolidated joint ventures, net |
|
|
144 |
|
|
|
(265 |
) |
Net cash used to settle stock-based awards |
|
|
(22,946 |
) |
|
|
(9,113 |
) |
|
|
|
|
|
||||
Net cash used in financing activities |
|
$ |
(138,446 |
) |
|
$ |
(78,999 |
) |
|
|
|
|
|
||||
Effect of exchange rate changes on cash |
|
|
(4,709 |
) |
|
|
2,312 |
|
|
|
|
|
|
||||
(Decrease) increase in cash, cash equivalents, and restricted cash |
|
|
(208,618 |
) |
|
|
515,920 |
|
Cash, cash equivalents, and restricted cash at the beginning of the period |
|
|
1,174,223 |
|
|
|
465,296 |
|
|
|
|
|
|
||||
Cash, cash equivalents, and restricted cash at the end of the period |
|
$ |
965,605 |
|
|
$ |
981,216 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20241021216721/en/
Jeffrey A. Martin
(901) 753-3226
Source: Mueller Industries, Inc.
FAQ
What were Mueller Industries' (MLI) key financial results for Q3 2024?
How did Mueller Industries' (MLI) Q3 2024 results compare to Q3 2023?
What factors contributed to Mueller Industries' (MLI) sales growth in Q3 2024?
What is Mueller Industries' (MLI) cash position as of Q3 2024?
