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) will participate in Baird's 2021 Global Industrial Conference on November 10, 2021. The virtual presentation will be accessible via the Investor Relations section of their website. Mueller Water Products is recognized as a leading manufacturer of products for water transmission, distribution, and measurement in North America. Their offerings include engineered valves, fire hydrants, metering products, and leak detection solutions, aimed at helping municipalities enhance operational efficiency.
Mueller Water Products (NYSE: MWA) will announce its fourth quarter and full year financial results for the period ending September 30, 2021, on November 8, 2021, after market close. A conference call will follow on November 9, 2021, at 9:00 a.m. ET to discuss the earnings and business results. The call will be accessible via webcast on the company's Investor Relations website, with an archive available for 90 days.
Mueller Water Products (NYSE: MWA) announced a 5.5% increase in its quarterly dividend, raising it to 5.80 cents per share from 5.50 cents.
This dividend will be payable on November 22, 2021, to stockholders of record by the close of business on November 10, 2021. The company is known for its products and services related to water transmission and distribution in North America.
Mueller Water Products (NYSE: MWA) will present at the 2021 RBC Capital Markets Global Industrials Virtual Conference on September 9, 2021, at 2:40 p.m. ET. This presentation will take the format of a fireside chat, with a live webcast and replay available on their Investor website. Mueller Water Products specializes in water transmission, distribution, and measurement, providing a range of products and services that enhance operational efficiency for municipalities.
Mueller Water Products reported record net sales of $310.5 million for Q3 FY2021, a 35.9% increase from the previous year. Net income rose to $14.4 million, with diluted earnings per share at $0.09 and adjusted per share earnings at $0.18. Adjusted EBITDA increased 42.9% to $62.6 million. The company also acquired i2O Water Ltd for approximately $20 million and refinanced its $450 million Senior Notes, reducing interest rates by 150 basis points. Full-year guidance for sales growth is increased to 14-16%.
Mueller Water Products has declared a quarterly dividend of 5.50 cents ($0.055) per share, scheduled for payment on approximately August 20, 2021. Stockholders on record by the close of business on August 10, 2021 will receive the dividend. As a leading manufacturer in the water transmission and distribution sector, Mueller aims to enhance operational efficiency for municipalities throughout North America. This dividend announcement underscores the company's commitment to returning value to its shareholders.
Mueller Water Products, Inc. (NYSE: MWA) plans to release its third-quarter financial results for the period ending June 30, 2021, on August 4, 2021, after market close. A conference call to discuss these results will be held on August 5, 2021, at 11:00 a.m. ET. Interested parties can access the call via webcast on the company's Investor Relations website. Mueller Water Products is a leading manufacturer of products for water transmission, distribution, and measurement in North America, emphasizing operational efficiency and improved customer service.
Mueller Water Products has launched the Albertville Survivors' Fund in partnership with GoFundMe to support victims of the June 15 shooting at the Mueller facility in Albertville, AL. The fund will provide direct financial aid to the families of those affected, including the deceased and injured. Mueller has pledged an initial contribution of $100,000 and will cover all administrative costs. The National Compassion Fund will manage the fund, ensuring direct support to victims and their families while maintaining donor intent.
Mueller Water Products (NYSE: MWA) has acquired i2O Water Ltd for approximately $20 million in cash. This acquisition aims to enhance Mueller's pressure management solutions and analytics portfolio, allowing the company to better serve over 100 water companies across 45 countries. i2O Water specializes in reducing water loss through intelligent water networks. Following the acquisition, i2O Water will integrate into Mueller's Technologies segment, complementing existing products and facilitating entry into the North American market.
Mueller Water Products priced an offering of $450 million aggregate principal amount of 4.0% Senior Notes due 2029. This private offering is exempt from registration under the Securities Act of 1933. The net proceeds will be used to redeem existing senior notes due 2026. The Notes will be sold to institutional buyers in the U.S. and outside the U.S. without registration. The press release emphasizes that it does not constitute an offer to sell. All forward-looking statements may differ materially due to various factors, including impacts from the COVID-19 pandemic.
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