Mueller Industries, Inc. Reports Third Quarter 2024 Earnings
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 22 2024
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Source: Newsfilter
Financial Performance: Mueller Industries, Inc. reported a net sales increase to $997.8 million in Q3 2024 from $819.8 million in Q3 2023, with net income rising to $168.7 million compared to $132.7 million the previous year, driven by higher copper prices and contributions from acquired businesses.
Future Outlook: CEO Greg Christopher expressed optimism about future conditions, anticipating benefits from declining interest rates and moderating inflation, while highlighting the company's strong balance sheet and readiness to pursue growth opportunities.
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About MLI
Mueller Industries, Inc. is a manufacturer of copper, brass, and aluminum products. The Company's products include copper tubes and fittings; line sets; steel nipples; brass rods, bars and shapes; aluminum and brass forgings; aluminum impact extrusions; compressed gas valves; refrigeration valves and fittings; pressure vessels; coaxial heat exchangers; insulated flexible duct systems, and wire and cable solutions. It also resells brass and plastic plumbing valves, faucets, and plumbing specialty products. Its Piping Systems segment is composed of Domestic Piping Systems Group, Great Lakes Copper, European Operations, Trading Group, Jungwoo Metal Ind. Co., LTD and Mueller Middle East WLL. Its Industrial Metals segment is composed of Brass Rod, Impacts & Micro Gauge, Brass Value-Added Products, Precision Tube, and Nehring Electrical Works Company. Its Climate segment is composed of Refrigeration Products, Westermeyer Industries, Inc., Turbotec Products, Inc., Flex Duct and Linesets, Inc.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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