Paul Mueller Company Announces Its Second Quarter Earnings of 2025
Paul Mueller Company (OTC: MUEL) reported strong Q2 2025 financial results, with net income surging to $11.63 million ($17.80 per share) compared to $6.80 million ($7.26 per share) in Q2 2024. The company's net sales increased to $72.62 million, up from $65.67 million year-over-year.
Key highlights include a substantial increase in backlog to $234.2 million as of June 30, 2025, compared to $187.3 million in the previous year, primarily driven by pharmaceutical customers in the Industrial Equipment segment. The U.S. operations showed particularly strong performance, with domestic revenue reaching $58.93 million in Q2 2025, a $6.1 million increase from Q2 2024.
The company's balance sheet strengthened with cash and cash equivalents of $21.68 million and shareholders' investment growing to $95.36 million, resulting in a book value per share of $102.52.
Paul Mueller Company (OTC: MUEL) ha riportato risultati finanziari solidi per il secondo trimestre del 2025, con un utile netto in forte crescita a 11,63 milioni di dollari (17,80 dollari per azione), rispetto ai 6,80 milioni di dollari (7,26 dollari per azione) del secondo trimestre 2024. Le vendite nette dell'azienda sono aumentate a 72,62 milioni di dollari, rispetto ai 65,67 milioni di dollari dell'anno precedente.
Tra i punti salienti, si evidenzia un significativo aumento del portafoglio ordini, che ha raggiunto 234,2 milioni di dollari al 30 giugno 2025, rispetto ai 187,3 milioni di dollari dell'anno precedente, trainato principalmente dai clienti del settore farmaceutico nel segmento Industrial Equipment. Le operazioni negli Stati Uniti hanno mostrato una performance particolarmente forte, con ricavi domestici pari a 58,93 milioni di dollari nel secondo trimestre 2025, in aumento di 6,1 milioni di dollari rispetto allo stesso periodo del 2024.
Il bilancio della società si è rafforzato con liquidità e equivalenti di cassa pari a 21,68 milioni di dollari e investimenti degli azionisti cresciuti a 95,36 milioni di dollari, con un valore contabile per azione di 102,52 dollari.
Paul Mueller Company (OTC: MUEL) reportó sólidos resultados financieros en el segundo trimestre de 2025, con un ingreso neto que se disparó a 11,63 millones de dólares (17,80 dólares por acción), en comparación con 6,80 millones de dólares (7,26 dólares por acción) en el segundo trimestre de 2024. Las ventas netas de la empresa aumentaron a 72,62 millones de dólares, frente a los 65,67 millones del año anterior.
Entre los aspectos destacados, se observa un aumento sustancial en la cartera de pedidos, que alcanzó 234,2 millones de dólares al 30 de junio de 2025, en comparación con 187,3 millones del año anterior, impulsado principalmente por clientes farmacéuticos en el segmento de Equipos Industriales. Las operaciones en EE.UU. mostraron un desempeño especialmente fuerte, con ingresos nacionales que alcanzaron 58,93 millones de dólares en el segundo trimestre de 2025, un incremento de 6,1 millones respecto al segundo trimestre de 2024.
El balance de la compañía se fortaleció con efectivo y equivalentes de efectivo por 21,68 millones de dólares y una inversión de los accionistas que creció a 95,36 millones, resultando en un valor contable por acción de 102,52 dólares.
Paul Mueller Company (OTC: MUEL)는 2025년 2분기 강력한 재무 실적을 보고했으며, 순이익은 2024년 2분기 680만 달러(주당 7.26달러)에서 1,163만 달러(주당 17.80달러)로 급증했습니다. 회사의 순매출은 전년 동기 대비 6567만 달러에서 7,262만 달러로 증가했습니다.
주요 하이라이트로는 2025년 6월 30일 기준 수주 잔고가 전년 1억 8,730만 달러에서 2억 3,420만 달러로 크게 증가했으며, 이는 주로 산업 장비 부문의 제약 고객에 의해 주도되었습니다. 미국 내 사업은 특히 강한 성과를 보였으며, 2025년 2분기 국내 매출은 5,893만 달러로 2024년 2분기 대비 610만 달러 증가했습니다.
회사의 재무상태는 현금 및 현금성 자산이 2,168만 달러에 달하고, 주주 투자금이 9,536만 달러로 증가하면서 주당 장부가치는 102.52달러에 이르렀습니다.
Paul Mueller Company (OTC : MUEL) a publié de solides résultats financiers pour le deuxième trimestre 2025, avec un bénéfice net en forte hausse à 11,63 millions de dollars (17,80 dollars par action), contre 6,80 millions de dollars (7,26 dollars par action) au deuxième trimestre 2024. Les ventes nettes de l'entreprise ont augmenté pour atteindre 72,62 millions de dollars, contre 65,67 millions de dollars l'année précédente.
Parmi les points forts, on note une augmentation substantielle du carnet de commandes, qui s'élève à 234,2 millions de dollars au 30 juin 2025, contre 187,3 millions de dollars l'année précédente, principalement portée par les clients pharmaceutiques du segment Équipements Industriels. Les opérations américaines ont affiché une performance particulièrement solide, avec un chiffre d'affaires domestique de 58,93 millions de dollars au deuxième trimestre 2025, soit une hausse de 6,1 millions par rapport au deuxième trimestre 2024.
Le bilan de l'entreprise s'est renforcé avec une trésorerie et des équivalents de trésorerie de 21,68 millions de dollars et un investissement des actionnaires en hausse à 95,36 millions, ce qui se traduit par une valeur comptable par action de 102,52 dollars.
Paul Mueller Company (OTC: MUEL) meldete starke Finanzergebnisse für das zweite Quartal 2025, mit einem Nettogewinn, der auf 11,63 Millionen US-Dollar (17,80 US-Dollar pro Aktie) anstieg, verglichen mit 6,80 Millionen US-Dollar (7,26 US-Dollar pro Aktie) im zweiten Quartal 2024. Der Nettoumsatz des Unternehmens stieg auf 72,62 Millionen US-Dollar, gegenüber 65,67 Millionen US-Dollar im Vorjahreszeitraum.
Zu den wichtigsten Highlights zählt ein erheblicher Anstieg des Auftragsbestands auf 234,2 Millionen US-Dollar zum 30. Juni 2025, verglichen mit 187,3 Millionen US-Dollar im Vorjahr, hauptsächlich getrieben durch Pharma-Kunden im Segment Industrielle Ausrüstung. Die US-Geschäfte zeigten eine besonders starke Leistung, mit einem inländischen Umsatz von 58,93 Millionen US-Dollar im zweiten Quartal 2025, ein Anstieg von 6,1 Millionen US-Dollar gegenüber dem zweiten Quartal 2024.
Die Bilanz des Unternehmens wurde durch liquide Mittel von 21,68 Millionen US-Dollar und ein gestiegenes Aktionärsinvestment von 95,36 Millionen US-Dollar gestärkt, was zu einem Buchwert je Aktie von 102,52 US-Dollar führte.
- Q2 2025 net income increased 71% to $11.63 million from $6.80 million in Q2 2024
- Net sales grew 10.6% to $72.62 million in Q2 2025
- Backlog increased significantly to $234.2 million, up 25% from $187.3 million year-over-year
- Book value per share improved to $102.52 from $84.27 at year-end 2024
- Strong performance in pharmaceutical customer segment driving Industrial Equipment growth
- European operations (Mueller BV) revenue declined by $2.41 million in first half of 2025
- Mueller BV net income decreased by $948,000 in first half of 2025 compared to 2024
- Operating expenses increased 16.8% to $13.33 million in Q2 2025
SPRINGFIELD, Mo., July 25, 2025 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC: MUEL) today announced earnings for the second quarter ended June 30, 2025.
| PAUL MUELLER COMPANY | ||||||||||||||||||||||
| SIX-MONTH REPORT | ||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||||||||
| Three Months Ended | Six Months Ended | Twelve Months Ended | ||||||||||||||||||||
| June 30 | June 30 | June 30 | ||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||||||||||
| Net Sales | $ | 72,624 | $ | 65,670 | $ | 131,484 | $ | 116,026 | $ | 264,043 | $ | 228,900 | ||||||||||
| Cost of Sales | 44,760 | 45,871 | 85,798 | 80,431 | 171,491 | 158,123 | ||||||||||||||||
| Gross Profit | $ | 27,864 | $ | 19,799 | $ | 45,686 | $ | 35,595 | $ | 92,552 | $ | 70,777 | ||||||||||
| Selling, General and Administrative Expense | 13,332 | 11,417 | 24,865 | 21,775 | 49,338 | 84,743 | ||||||||||||||||
| Operating Income (Loss) | $ | 14,532 | $ | 8,382 | $ | 20,821 | $ | 13,820 | $ | 43,214 | $ | (13,966 | ) | |||||||||
| Interest Income (Expense) | 578 | 70 | 607 | (1,178 | ) | 1,484 | (1,351 | ) | ||||||||||||||
| Other Income | 50 | 506 | 114 | 2,050 | 441 | 3,383 | ||||||||||||||||
| Income (Loss) before Provision (Benefit) for Income Taxes | $ | 15,160 | $ | 8,958 | $ | 21,542 | $ | 14,692 | $ | 45,139 | $ | (11,934 | ) | |||||||||
| Provision (Benefit) for Income Taxes | 3,531 | 2,154 | 4,985 | 3,439 | 10,163 | (4,817 | ) | |||||||||||||||
| Net Income (Loss) | $ | 11,629 | $ | 6,804 | $ | 16,557 | $ | 11,253 | $ | 34,976 | $ | (7,117 | ) | |||||||||
| Earnings (Loss) per Common Share –– Basic and Diluted | $ | 17.80 | $ | 7.26 | $ | 23.02 | $ | 11.13 | $ | 37.40 | ($ | 6.79 | ) | |||||||||
| CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||||
| Six Months Ended | |||||||||
| June 30 | |||||||||
| 2025 | 2024 | ||||||||
| Net Income | $ | 16,557 | $ | 11,253 | |||||
| Other Comprehensive Income (Loss), Net of Tax: | |||||||||
| Foreign Currency Translation Adjustment | 2,015 | (780 | ) | ||||||
| Comprehensive Income | $ | 18,572 | $ | 10,473 | |||||
| CONSOLIDATED BALANCE SHEETS | |||||||||
| June 30 | December 31 | ||||||||
| 2025 | 2024 | ||||||||
| Cash and Cash Equivalents | $ | 21,678 | $ | 21,169 | |||||
| Marketable Securities | 29,929 | 24,446 | |||||||
| Accounts Receivable, net | 47,032 | 31,266 | |||||||
| Inventories (FIFO) | 45,417 | 40,905 | |||||||
| LIFO Reserve | (21,899 | ) | (20,146 | ) | |||||
| Inventories (LIFO) | 23,518 | 20,759 | |||||||
| Current Net Investments in Sales-Type Leases | 54 | 39 | |||||||
| Other Current Assets | 5,442 | 4,933 | |||||||
| Current Assets | $ | 127,653 | $ | 102,612 | |||||
| Net Property, Plant, and Equipment | 63,264 | 50,754 | |||||||
| Right of Use Assets | 2,290 | 2,235 | |||||||
| Other Assets | 165 | 1,862 | |||||||
| Long-Term Net Investments in Sales-Type Leases | 1,932 | 1,211 | |||||||
| Total Assets | $ | 195,304 | $ | 158,674 | |||||
| Accounts Payable | $ | 12,998 | $ | 17,588 | |||||
| Current Maturities and Short-Term Debt | 468 | 3,466 | |||||||
| Current Lease Liabilities | 371 | 336 | |||||||
| Advance Billings | 39,572 | 26,788 | |||||||
| Billings in Excess of Cost | 19,792 | 7,635 | |||||||
| Other Current Liabilities | 19,556 | 15,591 | |||||||
| Current Liabilities | $ | 92,757 | $ | 71,404 | |||||
| Long-Term Debt | 5,499 | 5,096 | |||||||
| Other Long-Term Liabilities | 692 | 2,329 | |||||||
| Lease Liabilities | 993 | 896 | |||||||
| Total Liabilities | $ | 99,941 | $ | 79,725 | |||||
| Shareholders' Investment | 95,363 | 78,949 | |||||||
| Total Liabilities and Shareholders' Investment | $ | 195,304 | $ | 158,674 | |||||
| SELECTED FINANCIAL DATA | |||||||||
| June 30 | December 31 | ||||||||
| 2025 | 2024 | ||||||||
| Book Value per Common Share | $ | 102.52 | $ | 84.27 | |||||
| Total Shares Outstanding | 930,183 | 936,837 | |||||||
| Backlog | $ | 234,212 | $ | 153,685 | |||||
| CONSOLIDATED STATEMENT OF SHAREHOLDERS' INVESTMENT | |||||||||||||||||||||||
| Common Stock | Paid-in Surplus | Retained Earnings | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Total | ||||||||||||||||||
| Balance, December 31, 2024 | $ | 1,508 | $ | 9,708 | $ | 96,037 | $ | (22,697 | ) | $ | (5,607 | ) | $ | 78,949 | |||||||||
| Add (Deduct): | |||||||||||||||||||||||
| Net Income | 16,557 | 16,557 | |||||||||||||||||||||
| Other Comprehensive Income, Net of Tax | 2,015 | 2,015 | |||||||||||||||||||||
| Dividends | (495 | ) | (495 | ) | |||||||||||||||||||
| Treasury Stock Acquisition | (1,663 | ) | (1,663 | ) | |||||||||||||||||||
| Other | - | ||||||||||||||||||||||
| Balance, June 30, 2025 | $ | 1,508 | $ | 9,708 | $ | 112,099 | $ | (24,360 | ) | $ | (3,592 | ) | $ | 95,363 | |||||||||
| CONSOLIDATED STATEMENT OF CASH FLOWS | |||||||||
| Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | ||||||||
| Operating Activities: | |||||||||
| Net Income | $ | 16,557 | $ | 11,253 | |||||
| Adjustment to Reconcile Net Income to Net Cash Provided by Operating Activities: | |||||||||
| Pension Contributions (Greater) than Expense | - | (16 | ) | ||||||
| Depreciation & Amortization | 3,380 | 3,427 | |||||||
| Deferred Tax Expense | 288 | - | |||||||
| Loss on Disposal of Equipment | 469 | 175 | |||||||
| (Gain) on Sales of Equipment | - | (106 | ) | ||||||
| (Inc) in Accts and Notes Receivable | (15,765 | ) | (9,354 | ) | |||||
| (Inc) in Cost in Excess of Estimated Earnings and Billings | (16 | ) | - | ||||||
| (Inc) Dec in Inventories | (2,256 | ) | 1,290 | ||||||
| (Inc) in Prepayments | (782 | ) | (2,389 | ) | |||||
| (Inc) in Net Investment in Sales-type leases | (579 | ) | (80 | ) | |||||
| Dec in Other Assets | 2,026 | 738 | |||||||
| (Dec) Inc in Accounts Payable | (4,589 | ) | 4,242 | ||||||
| (Dec) Inc in Accrued Income Tax | 913 | (1,165 | ) | ||||||
| Inc (Dec) in Other Accrued Expenses | 3,088 | (227 | ) | ||||||
| Inc (Dec) in Advanced Billings | 12,784 | (8,519 | ) | ||||||
| Inc in Billings in Excess of Costs and Estimated Earnings | 12,156 | 8,306 | |||||||
| Inc in Lease Liability for Operating | - | 57 | |||||||
| Principal payments of Lease Liability for Operating | (156 | ) | (53 | ) | |||||
| Inc (Dec) in Long Term Deferred Tax Liabilities | 17 | (78 | ) | ||||||
| (Dec) in Other Long-Term Liabilities | (1,730 | ) | (93 | ) | |||||
| Net Cash Provided by Operating Activities | $ | 25,805 | $ | 7,408 | |||||
| Investing Activities | |||||||||
| Intangibles | - | - | |||||||
| Purchases of Marketable Securities | (16,464 | ) | (24,649 | ) | |||||
| Proceeds from Sales of Marketable Securities | 10,981 | 38,522 | |||||||
| Proceeds from Sales of Equipment | - | 131 | |||||||
| Additions to Property, Plant, and Equipment | (13,850 | ) | (6,612 | ) | |||||
| Net Cash (Required) for Investing Activities | $ | (19,333 | ) | $ | 7,392 | ||||
| Financing Activities | |||||||||
| Principal payments of Lease Liability for Financing | (50 | ) | (22 | ) | |||||
| (Repayment) of Short-Term Borrowings, Net | (5,186 | ) | (751 | ) | |||||
| Proceeds of Short-Term Borrowings, Net | 2,136 | 754 | |||||||
| (Repayment) of Long-Term Debt | (1,864 | ) | (422 | ) | |||||
| Dividends Paid | (495 | ) | (378 | ) | |||||
| Treasury Stock Acquisitions | (1,664 | ) | (11,910 | ) | |||||
| Net Cash (Required) for Financing Activities | $ | (7,123 | ) | $ | (12,729 | ) | |||
| Effect of Exchange Rate Changes | 1,160 | (545 | ) | ||||||
| Net Increase in Cash and Cash Equivalents | $ | 509 | $ | 1,526 | |||||
| Cash and Cash Equivalents at Beginning of Year | 21,169 | 1,883 | |||||||
| Cash and Cash Equivalents at End of Quarter | $ | 21,678 | $ | 3,409 | |||||
PAUL MUELLER COMPANY
SUMMARIZED NOTES TO THE FINANCIAL STATEMENTS
(In thousands)
A. The chart below depicts the net revenue on a consolidating basis for the three months ended June 30.
| Three Months Ended June 30 | |||||||||||
| Revenue | 2025 | 2024 | Variance | ||||||||
| Domestic | $ | 58,928 | $ | 52,830 | $ | 6,098 | |||||
| Mueller BV | $ | 13,796 | $ | 13,164 | $ | 632 | |||||
| Eliminations | $ | (100 | ) | $ | (324 | ) | $ | 224 | |||
| Net Revenue | $ | 72,624 | $ | 65,670 | $ | 6,954 | |||||
The chart below depicts the net revenue on a consolidating basis for the six months ended June 30.
| Six Months Ended June 30 | |||||||||||
| Revenue | 2025 | 2024 | Variance | ||||||||
| Domestic | $ | 109,005 | $ | 91,707 | $ | 17,298 | |||||
| Mueller BV | $ | 22,579 | $ | 24,989 | $ | (2,410 | ) | ||||
| Eliminations | $ | (100 | ) | $ | (670 | ) | $ | 570 | |||
| Net Revenue | $ | 131,484 | $ | 116,026 | $ | 15,458 | |||||
The chart below depicts the net revenue on a consolidating basis for the twelve months ended June 30.
| Twelve Months Ended June 30 | |||||||||||
| Revenue | 2025 | 2024 | Variance | ||||||||
| Domestic | $ | 219,480 | $ | 180,833 | $ | 38,647 | |||||
| Mueller BV | $ | 45,548 | $ | 49,322 | $ | (3,774 | ) | ||||
| Eliminations | $ | (985 | ) | $ | (1,255 | ) | $ | 270 | |||
| Net Revenue | $ | 264,043 | $ | 228,900 | $ | 35,143 | |||||
The chart below depicts the net income (loss) on a consolidating basis for the three months ended June 30.
| Three Months Ended June 30 | |||||||||||
| Net Income | 2025 | 2024 | Variance | ||||||||
| Domestic | $ | 10,922 | $ | 6,027 | $ | 4,895 | |||||
| Mueller BV | $ | 694 | $ | 774 | $ | (80 | ) | ||||
| Eliminations | $ | 13 | $ | 3 | $ | 10 | |||||
| Net Income | $ | 11,629 | $ | 6,804 | $ | 4,825 | |||||
The chart below depicts the net income (loss) on a consolidating basis for the six months ended June 30.
| Six Months Ended June 30 | |||||||||||
| Net Income | 2025 | 2024 | Variance | ||||||||
| Domestic | $ | 16,350 | $ | 10,075 | $ | 6,275 | |||||
| Mueller BV | $ | 200 | $ | 1,148 | $ | (948 | ) | ||||
| Eliminations | $ | 7 | $ | 30 | $ | (23 | ) | ||||
| Net Income | $ | 16,557 | $ | 11,253 | $ | 5,304 | |||||
The chart below depicts the net income on a consolidating basis for the twelve months ended June 30.
| Twelve Months Ended June 30 | |||||||||||
| Net Income | 2025 | 2024 | Variance | ||||||||
| Domestic | $ | 34,609 | $ | (10,408 | ) | $ | 45,017 | ||||
| Mueller BV | $ | 388 | $ | 3,285 | $ | (2,897 | ) | ||||
| Eliminations | $ | (21 | ) | $ | 6 | $ | (27 | ) | |||
| Net Income (Loss) | $ | 34,976 | $ | (7,117 | ) | $ | 42,093 | ||||
B. June 30, 2025 backlog is
C. We manage our business in the U.S. looking at earnings before tax (EBT) and excluding the effects of LIFO and non-reoccurring events such as the pension settlement. This non-GAAP adjusted EBT (as shown in the table below) is up over the prior year by
| Ended June 30 | |||||||||||||||||
| Three Months | Six Months | Twelve Months | |||||||||||||||
| (In Thousands) | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | |||||||||||
| Domestic Net Income | $ | 10,922 | $ | 6,027 | $ | 16,350 | $ | 10,075 | $ | 34,610 | $ | (10,408 | ) | ||||
| Income Tax Expense | $ | 3,292 | $ | 1,899 | $ | 4,920 | $ | 3,070 | $ | 10,002 | $ | (4,560 | ) | ||||
| Domestic EBT - GAAP | $ | 14,214 | $ | 7,926 | $ | 21,270 | $ | 13,145 | $ | 44,612 | $ | (14,968 | ) | ||||
| LIFO Adjustment | $ | 369 | $ | (246 | ) | $ | 1,752 | $ | (463 | ) | $ | 587 | $ | (619 | ) | ||
| Pension Adjustment | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 41,774 | |||||
| Domestic EBT - Non-GAAP | $ | 14,583 | $ | 7,680 | $ | 23,022 | $ | 12,682 | $ | 45,199 | $ | 26,187 | |||||
D. On May 8, 2025, the tender offer, announced on March 31, 2025, expired with 6,654 shares being tendered for a total of
E. The consolidated financials are affected by the euro to dollar exchange rate when consolidating Mueller B.V., the Dutch subsidiary. The month-end euro to dollar exchange rate was 1.07 for June 2024, 1.04 for December 2024, and 1.17 for June 2025.
This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including, but not limited to, the factors described in the Company’s Annual Report under “Safe Harbor for Forward-Looking Statements”, which is available at paulmueller.com. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.
The accounting policies related to this report and additional management discussion and analysis are provided in the 2024 annual report, available at
www.paulmueller.com.
Press Contact: Ken Jeffries | Paul Mueller Company | Springfield, MO 65802 | (417) 575-9346
kjeffries@paulmueller.com | https://paulmueller.com
FAQ
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