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Mueller Industries Inc (NYSE: MLI) delivers essential components for global infrastructure through its copper, brass, and aluminum manufacturing expertise. This news hub provides investors and industry professionals with verified updates across all corporate developments.
Access real-time announcements including quarterly earnings, strategic partnerships, product innovations, and operational expansions. Our curated collection ensures you stay informed about MLI's contributions to piping systems, industrial metals, and climate solutions markets.
Discover updates spanning manufacturing advancements, sustainability initiatives, and market leadership in HVAC components. Bookmark this page for streamlined access to Mueller Industries' official communications and third-party analyses.
Mueller Industries (NYSE: MLI) reported its Q2 2024 earnings, showing mixed results compared to Q2 2023. Net sales increased to $997.7 million from $897.0 million, driven by higher unit shipments, increased copper prices, and the inclusion of the newly acquired Nehring business. However, net income decreased to $160.2 million from $177.7 million, and diluted EPS fell to $1.41 from $1.56.
The company's operating income slightly decreased to $210.0 million from $210.7 million. Adjusting for a $19.5 million insurance settlement gain in 2023, operating income actually improved by 9.8%. Mueller's cash position remains strong, with $825.7 million at quarter-end and a current ratio of 4.7 to 1. The company deployed $566.6 million for acquisitions and $15.1 million for stock repurchases during the quarter.
Mueller Industries (NYSE: MLI) has successfully acquired Nehring Electrical Works Company, enhancing its footprint in the electrical and power infrastructure sector.
Founded in 1912 and based in DeKalb, Illinois, Nehring specializes in high-quality wire and cable solutions for various markets, including utility, telecommunication, and electrical distribution.
This acquisition aligns with Mueller’s strategy to target businesses with strong market positions and robust financial profiles. The current Nehring management team will remain in place.
Mueller Industries is a diversified industrial with a global presence across North America, Europe, Asia, and the Middle East, operating in markets such as air, water, oil and gas distribution, and more.
Mueller Industries, Inc. (NYSE: MLI) declared a quarterly cash dividend of 20 cents per share for the second quarter. The dividend will be paid on June 21, 2024, to shareholders of record on June 7, 2024. Mueller Industries is an industrial with diverse holdings in key markets globally.
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