Mueller Inds - MLI STOCK NEWS

Mueller Industries, Inc. (NYSE: MLI) reported its Q1 2023 results, demonstrating growth in key areas despite a decrease in net sales. Operating income increased to $229.1 million, up 7.7% year-over-year, while net income rose to $173.2 million, a 9.4% increase. EPS reached $3.07, reflecting a 10.4% rise. However, net sales fell by 3.8% to $971.2 million, primarily due to lower copper prices and reduced international mill unit volume. The average COMEX copper price was $4.09 per pound, down 10% from last year. Cash from operations was robust at $111.6 million, with no net debt and a current ratio of 4.3:1. The company increased its quarterly dividend by 20% to $.30 per share. Despite a tornado damaging a factory, Mueller anticipates minimal impact on financial results due to insurance coverage.

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 25 cents per share, payable on September 16, 2022, to shareholders of record on September 2, 2022. The company operates across vital markets including air, water, oil, and gas distribution, and has a global presence in North America, Europe, Asia, and the Middle East.