Welcome to our dedicated page for Mueller Paul news (Ticker: MUEL), a resource for investors and traders seeking the latest updates and insights on Mueller Paul stock.
Paul Mueller Company (OTC: MUEL) is a plate work manufacturing company headquartered in Springfield, Missouri that builds processing equipment for dairy farms, food and beverage, pharmaceutical, and chemical facilities. This news page aggregates press releases and announcements related to MUEL so readers can review the company’s latest corporate and financial disclosures in one place.
Recent news from Paul Mueller Company covers several key themes. The company regularly issues quarterly earnings releases that include consolidated financial statements, backlog figures, and commentary on the performance of its domestic operations and its Dutch subsidiary, Mueller B.V. These reports often highlight the contribution of the Industrial Equipment segment and pharmaceutical customers to revenue, net income, and backlog trends.
Paul Mueller Company also announces capital allocation decisions such as cash dividends and share repurchase programs. Multiple releases describe Board-approved cash dividends of 30 cents per share and tender offers to repurchase common stock, including details on the number of shares tendered and the total value of shares bought back. Leadership updates, such as the planned retirement of the Chief Financial Officer and the appointment of a new CFO, are communicated through dedicated news items.
In addition, the company issues news about facility expansions and capital projects, including expansions of its Components Products facility and the construction of a building designed for modular construction of large pharmaceutical and processing equipment. Investors and observers can use this news feed to follow MUEL’s earnings reports, backlog developments, capital investments, dividends, share repurchases, and management changes over time.
Paul Mueller Company (OTC: MUEL) reported its earnings for the quarter ending December 31, 2022. Net sales increased to $59,002 compared to $46,993 in 2021, while total revenue for the year reached $191,520, up from $184,613. Gross profit for the quarter fell to $8,920 from $9,532, and the net income saw a significant decline from $7,001 in 2021 to $3,609 in 2022. Operating income improved to $4,241 from a loss of $(224) year over year. The company's backlog increased significantly to $132,829 from $78,357 in the previous year, indicating potential growth.
Paul Mueller Company (OTC: MUEL) announced a cash dividend of 15 cents ($0.15) per share on its common stock. The decision was made during a special Board of Directors meeting on February 6, 2023. This dividend is payable on March 31, 2023, to shareholders of record on February 28, 2023.
The Paul Mueller Company (OTC Pink: MUEL) has initiated the standard termination of its Noncontract Employees Retirement Plan, informing affected parties through a Notice of Intent to Terminate. This termination requires sufficient funds to pay all benefits owed. The company will apply to the IRS for approval, expecting the process to take about a year. The termination is estimated to require a contribution of $10-15 million and will result in a non-cash reduction to net income of $29-32 million. The plan represents a significant portion of the company's total benefit obligations.
Paul Mueller Company (OTC: MUEL) has declared a cash dividend of $0.15 per share on its common stock. This decision was made during a special Board of Directors meeting on November 2, 2022. The dividend will be distributed on December 22, 2022, to shareholders on record as of November 22, 2022.
Paul Mueller Company (OTC Pink: MUEL) has initiated a standard termination of its Contract Employees Retirement Plan by sending a Notice of Intent to Terminate to affected participants. The firm plans to apply for IRS approval, which could take around a year. The termination is expected to cost the company $4-6 million and will result in a non-cash reduction in net income of $15-16 million. The plan represents $23.5 million of the total $99.9 million benefit obligation as of December 31, 2021. The Non-Contract Employees Retirement Plan remains unaffected.
Paul Mueller Company (MUEL) reported its Q3 2022 earnings, revealing net sales of $45.8 million, up from $43.1 million in Q3 2021. However, year-to-date sales decreased to $132.5 million from $137.6 million. Gross profit improved to $11 million from $10.1 million year-over-year, despite net income declining to $980,000 from a loss of $1.04 million. The backlog remained strong at $139.2 million, and cash increased by $9.6 million. Key issues included rising costs due to inflation and an increase in the LIFO reserve, negatively affecting pre-tax earnings.
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