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Mueller Industries, Inc. (NYSE: MLI) is a prominent industrial manufacturer with a focus on copper and copper alloy products, as well as goods made from aluminum, steel, and plastics. Headquartered in Memphis, Tennessee, Mueller Industries operates a comprehensive network of facilities in the United States, Canada, Mexico, Great Britain, and China. The company’s extensive product range includes tubing, fittings, valves, vessels, and related items for plumbing, HVACR, and piping systems. Additionally, the firm produces rods, forgings, extrusions, and various components for Original Equipment Manufacturer (OEM) applications.
Mueller Industries is structured into three main business segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment, which generates the majority of the company’s revenue, is responsible for the production of tubes, fittings, rods, valves, and other essential products. This segment operates numerous firms globally. The Industrial Metals segment focuses on manufacturing brass rod, copper bar, and value-added products. The Climate segment produces components vital to temperature-control systems, including valves, twisted tubes, and coaxial heat exchangers, which are crucial for HVAC, refrigeration, water distribution, and automotive systems.
Recently, Mueller Industries has been involved in several significant projects and partnerships that underline its market position and commitment to innovation. The company's strong financial condition has enabled continuous investment in advanced technologies and sustainable practices, reinforcing its leadership in the industrial manufacturing sector. Mueller Industries distributes its products across various sectors, including building construction, appliance, defense, energy, and automotive, ensuring a diversified market presence.
Stay updated with the latest news and developments from Mueller Industries, Inc. to understand the performance and strategic growth of one of the leading manufacturers in the industrial sector.
Mueller Industries, Inc. (NYSE: MLI) reported damage to its Covington, Tennessee manufacturing plant due to a tornado. Fortunately, all employees were safe and unharmed. The company is assessing the damage extent and has initiated plans to reallocate production to other facilities and secure third-party sourcing to ensure ongoing supply to customers. Finished goods are stored in unaffected distribution centers. Notably, losses from property damage and business interruption are anticipated to be covered by insurance, suggesting minimal impact on financial results.
Mueller Industries, Inc. (NYSE: MLI) has declared a quarterly cash dividend of $.30 per share, marking a 20% increase from 2022. This dividend will be paid on March 31, 2023 to stockholders on record by the close of business on March 17, 2023. This announcement continues a trend of double-digit dividend increases for the third consecutive year, reflecting the company's commitment to returning value to shareholders.
Mueller Industries, Inc. (NYSE: MLI) reported strong financial results for Q4 2022 and the full year. Fourth quarter operating income rose to $190.4 million, a 10.6% increase year-over-year, while net sales decreased 8.2% to $877.6 million. Net income improved 10.6% to $138.9 million, with diluted EPS at $2.46. For the full year, operating income surged 33.7% to $877.1 million, and net income was up 40.5% to $658.3 million. The company also achieved a low current ratio of 4 to 1 and eliminated a significant long-term pension risk.
Despite challenges, including declining copper prices and lower unit volumes, MLI maintains a positive outlook for 2023 with strong backlogs in key markets.
Mueller Industries, Inc. (NYSE: MLI) has declared a quarterly cash dividend of 25 cents per share, payable on December 16, 2022, to shareholders of record as of December 2, 2022. The company manufactures crucial products for diverse industries including air, water, oil and gas distribution, and automotive sectors. Despite potential risks related to economic conditions and market demand, this dividend reflects the company's continued commitment to delivering value to its shareholders.
Mueller Industries (NYSE: MLI) reported Q3 2022 results, showing net sales of $944.8 million, down 3.8% from the prior year, due to lower copper prices and divestitures. Operating Income was $205.2 million, down from $233.4 million, but adjusted for divestitures reflects a 15% increase. Net Income decreased to $154.5 million from $171.0 million, with EPS at $2.74 compared to $3.01. Despite challenges, the company noted strong performance in value-added businesses, with a 22% growth in that segment. Cash reserves increased significantly, positioning the company for future opportunities.
Mueller Industries, Inc. (NYSE: MLI) announced its participation in the Sidoti & Company Fall Virtual Small Cap Investor Conference on September 21-22, 2022. The company is set to present on September 22 at 11:30 a.m. ET and will engage in virtual meetings with investors throughout the day. A live audio webcast of the presentation will be available on the company’s website under the Investor Relations section, with a replay accessible for 90 days post-event.
Mueller Industries manufactures essential goods for various markets including air, water, and energy distribution, with operations across North America, Europe, Asia, and the Middle East.
Mueller Industries, Inc. (NYSE: MLI) has launched a redesigned investor relations website to improve access to financial information and company news. The new site features an updated investor presentation, emphasizing its commitment to shareholder value with double-digit returns over the past 15 years. CFO Jeffrey A. Martin expressed enthusiasm for the new portal, which is intended to highlight the company's operating principles and positive business outlook. Investors can visit the new site at www.muellerindustries.com.
Mueller Industries, Inc. (NYSE: MLI) declared a quarterly cash dividend of
Mueller Industries, Inc. (NYSE: MLI) reported a strong second quarter in 2022, achieving net sales of $1.15 billion, up 13.6% from the previous year. Operating income rose to $268.9 million, while net income reached $206.6 million, indicating significant growth. EPS improved to $3.65 compared to $1.92 a year ago. Despite a 4% decline in industrial metals volume and a 17% drop in international tube sales, the company’s value-added businesses surged 33%. Strong cash generation of $142 million and zero net debt position Mueller for future growth.
Mueller Industries, Inc. (NYSE: MLI) declared a quarterly cash dividend of 25 cents per share, scheduled for payment on June 17, 2022, to shareholders of record as of June 3, 2022. The company operates across multiple sectors, including air, water, oil and gas distribution, and medical services, with a presence in North America, Europe, Asia, and the Middle East. The release includes forward-looking statements regarding potential risks such as economic conditions, market demand, and resource availability.
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