Welcome to our dedicated page for Mueller Water Products news (Ticker: MWA), a resource for investors and traders seeking the latest updates and insights on Mueller Water Products stock.
Mueller Water Products, Inc. (NYSE: MWA) is a prominent U.S.-based manufacturer and marketer specializing in products and services for the transmission, distribution, and measurement of water. Operating through its two key segments, Water Flow Solutions and Water Management Solutions, the company offers an extensive portfolio that includes engineered valves, fire hydrants, metering systems, leak detection, and pipe condition assessment tools.
In the Water Flow Solutions segment, Mueller provides iron gate valves, specialty valves, and service brass products. This segment is pivotal to municipalities as it helps in optimizing water flow and operational efficiencies. The Water Management Solutions segment covers products like fire hydrants, repair and installation services, metering, leak detection, and pressure management solutions. This holistic approach to water management ensures municipalities can improve customer service and prioritize capital spending.
Mueller Water Products is a leader in North America's water infrastructure market. The company’s innovative solutions enable municipalities to enhance operational efficiencies and make informed capital spending decisions, epitomizing the company motto, “Where Intelligence Meets Infrastructure™”.
Financially, Mueller has demonstrated resilience and growth, with recent fiscal reports showing an improved balance sheet and liquidity. The company has also increased its quarterly dividends multiple times since 2014, showing a commitment to delivering value to shareholders. Despite facing a cybersecurity incident that disrupted some operations, Mueller has been diligent in its recovery efforts, working with leading cybersecurity specialists to mitigate the impact.
Recent news highlights Mueller's ongoing efforts to restore normal operations following the cybersecurity event and successful financial performance in the recent quarters. The company finished fiscal 2023 with strong net sales and adjusted EBITDA that exceeded expectations. They continue to focus on operational improvements, capital investments in key facilities, and maintaining a robust financial position to support future growth.
Mueller Water Products (NYSE: MWA) has announced changes to its Board of Directors as part of its refreshment plan. The company has nominated Bentina Chisolm Terry and Leland Weaver for election at the Annual Meeting of Stockholders on February 6, 2025. Two long-tenured directors, Dr. Lydia Thomas and Ms. Shirley Franklin, will retire at the meeting.
Following the Annual Meeting, the Board will consist of nine directors, with eight being independent and eight having been elected in the last six years. The new Board slate includes Christian A. Garcia, Thomas J. Hansen, Brian C. Healy, Christine Ortiz, Jeffery S. Sharritts, Bentina Chisolm Terry, Stephen C. Van Arsdell, Leland G. Weaver, and Marietta Edmunds Zakas.
Mueller Water Products (NYSE: MWA) announced its participation in the Baird 2024 Global Industrial Conference scheduled for November 12, 2024, in Chicago. The company's management team will be present at the event, and the presentation materials will be accessible to investors through the Events and Presentations section of Mueller Water Products' official website under Investor Relations.
Mueller Water Products (NYSE: MWA) reported strong Q4 and fiscal year 2024 results, with Q4 net sales increasing 15.5% to $348.2 million and full-year sales rising 3.1% to $1.3 billion. Q4 adjusted EBITDA grew 30.9% to $72.5 million with improved margin of 20.8%. Full-year net income reached $115.9 million with EPS of $0.74. The company generated record free cash flow of $191.4 million, up $130 million year-over-year. For fiscal 2025, Mueller expects net sales growth of 1.9-3.4% to $1.34-1.36 billion and adjusted EBITDA of $300-305 million.
Mueller Water Products (NYSE: MWA) has scheduled its fourth quarter and full year 2024 financial results release for Wednesday, November 6, 2024, after U.S. markets close. The company will host a conference call to discuss the results on Thursday, November 7, 2024, at 10:00 a.m. ET. A webcast will be available on the company's Investor Relations website, with an archive accessible for approximately 90 days after the call.
Mueller Water Products (NYSE: MWA) announced a 4.7% increase in its quarterly dividend, raising it to $0.067 per share from $0.064. The dividend will be payable on November 20, 2024, to stockholders of record as of November 8, 2024. This increase demonstrates the company's commitment to delivering shareholder value.
Mueller Water Products has released its fourth Environmental, Social and Governance (ESG) report, highlighting key milestones in 2023. The company reduced Scope 1 and 2 emissions intensity by ~3% year-over-year, used ~90% recycled metal in production, and decreased waste directed to disposal by 15+%. Mueller's EchoShore® leak detection system generated an estimated 5.8 billion gallons of water loss savings for clients since 2020.
CEO Martie Edmunds Zakas noted that MSCI upgraded Mueller to its highest ESG level of AAA. The company also expanded its global disclosure alignment to include the United Nations Sustainable Development Goals (UN SDGs) and provided an initial climate-related response to the CDP. Mueller's 2023 ESG report aligns with GRI, SASB, and TCFD frameworks, demonstrating its commitment to sustainability and transparency in its operations.
Mueller Water Products (NYSE: MWA) announced a CFO succession plan, with Steve Heinrichs transitioning from his role as Chief Financial Officer and Chief Legal and Compliance Officer by December 31, 2024. The company has initiated a search for a new CFO with a leading executive search firm. Heinrichs will remain as CFO until a successor is named and will be available as a consultant until September 30, 2025, to ensure a smooth transition.
CEO Martie Edmunds Zakas praised Heinrichs' contributions over the past six years. Chason A. Carroll was previously appointed as General Counsel in August 2023. Heinrichs expressed pride in the company's operational and financial improvements during his tenure.
Mueller Water Products (NYSE: MWA) has announced its participation in the upcoming Raymond James Industrial and Energy Showcase. The virtual event is scheduled for August 8, 2024. During the showcase, the company's management team will be hosting investor meetings. This presents an opportunity for investors to engage directly with Mueller Water Products' leadership.
Interested parties can access the company's presentation materials on the Investor Relations section of Mueller Water Products' official website at www.muellerwaterproducts.com. This virtual showcase allows the company to connect with investors and share insights about their operations, strategies, and market position in the water infrastructure industry.
Mueller Water Products (NYSE: MWA) reported strong Q3 2024 results, with net sales increasing 9.2% to $356.7 million. The company achieved record adjusted net income per diluted share of $0.32, up 77.8% year-over-year. Adjusted EBITDA rose 56.6% to $85.2 million, with margin improving to 23.9%. Key highlights include:
- Operating income increased 88.2% to $67.0 million
- Net income grew 93.1% to $47.3 million
- Free cash flow for the nine-month period improved by $101.4 million to $121.5 million
Based on strong performance, Mueller Water Products raised its fiscal 2024 guidance for net sales and adjusted EBITDA. The company expects to benefit from investments in aging water infrastructure and federal infrastructure spending.
Mueller Water Products (NYSE: MWA) has announced a quarterly dividend of 6.40 cents ($0.064) per share. The dividend will be payable on or about August 20, 2024, to stockholders of record as of the close of business on August 9, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite potential economic uncertainties.
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