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The Paul Mueller Company (OTC: MUEL) has announced an increase in the Share Repurchase Program, with plans to purchase shares up to $15 million. As of April 26, 2024, Computershare has received tender requests for $5.88 million of shares at $80 each. The tender offer will end on May 7, 2024.
Paul Mueller Company (OTC: MUEL) announced its first quarter earnings for 2024, showcasing a mixed financial performance. Net sales decreased from the previous year, but gross profit remained stable. Operating income improved, while net income showed a slight increase. The company's backlog decreased, mainly driven by the U.S. market. Revenue declined on a three-month basis but increased on a twelve-month basis. Earnings before tax (EBT) showed a mixed performance, with a decrease for the three months and an increase for the twelve months. The Board of Directors authorized a tender offer for up to $15 million of common stock, and the domestic bank borrowing facility was amended. Overall, the financial results reflect a nuanced picture of the company's performance.
