Mueller Water Products, Inc. reports news about a North American water infrastructure manufacturer and marketer whose products are used in the transmission, distribution and measurement of water. Its portfolio includes engineered valves, fire hydrants, pipe connection and repair products, metering products, leak detection, pipe condition assessment, pressure management products and software that provides water system data.
Company updates regularly cover quarterly financial results, volume trends, pricing, manufacturing efficiency, supply-chain conditions, tariffs and inflation pressures. Other recurring announcements include quarterly dividends, investor conference participation, earnings-call schedules and governance or leadership changes tied to the company's operating and commercial organization.
Mueller Water Products has launched the Albertville Survivors' Fund in partnership with GoFundMe to support victims of the June 15 shooting at the Mueller facility in Albertville, AL. The fund will provide direct financial aid to the families of those affected, including the deceased and injured. Mueller has pledged an initial contribution of $100,000 and will cover all administrative costs. The National Compassion Fund will manage the fund, ensuring direct support to victims and their families while maintaining donor intent.
Mueller Water Products (NYSE: MWA) has acquired i2O Water Ltd for approximately $20 million in cash. This acquisition aims to enhance Mueller's pressure management solutions and analytics portfolio, allowing the company to better serve over 100 water companies across 45 countries. i2O Water specializes in reducing water loss through intelligent water networks. Following the acquisition, i2O Water will integrate into Mueller's Technologies segment, complementing existing products and facilitating entry into the North American market.
Mueller Water Products priced an offering of $450 million aggregate principal amount of 4.0% Senior Notes due 2029. This private offering is exempt from registration under the Securities Act of 1933. The net proceeds will be used to redeem existing senior notes due 2026. The Notes will be sold to institutional buyers in the U.S. and outside the U.S. without registration. The press release emphasizes that it does not constitute an offer to sell. All forward-looking statements may differ materially due to various factors, including impacts from the COVID-19 pandemic.
Mueller Water Products, Inc. (NYSE:MWA) announced a proposal to issue $450 million of Senior Notes due 2029, subject to market conditions. The funds raised will be used, along with cash on hand, to redeem existing senior notes due 2026. The offering is a private placement, exempt from the registration requirements of the Securities Act of 1933. The offering has not been registered and may not be sold in jurisdictions where it is unlawful. The press release includes forward-looking statements about potential impacts from COVID-19 and other operational risks.
Mueller Water Products (MWA) and Ferguson Waterworks have launched the first LoRaWAN Class B endpoints, with the Town of Florence, Arizona, as the inaugural user. This technology allows for efficient scaling of network coverage and integrates with smart meters for real-time data transmission. Town Manager Brent Billingsley noted enhanced operational efficiency and potential revenue growth from this deployment. The Mi.Net node enables rapid data communication, improving outage responses and ensuring better utility management.
Mueller Water Products reported a 3.8% increase in net sales to $267.5 million for Q2 2021, with net income of $20.9 million. Adjusted net income per diluted share was $0.14, down from $0.15 in the prior year. Operating income decreased to $33.4 million from $35.8 million, impacted by inflation and a $2.4 million inventory write-down related to facility closures. Cash flow improved significantly, with $63.2 million generated from operations. The company raised its 2021 annual guidance, anticipating 8-10% sales growth. Challenges include rising material costs and supply chain issues.
Mueller Water Products, Inc. (NYSE: MWA) will present at the Oppenheimer 16th Annual Industrial Conference on May 5, 2021, at 2:15 p.m. ET. The event will be held virtually, and the presentation can be accessed on the company's Investor Relations website for 90 days. Mueller Water Products is a prominent manufacturer of water transmission and measurement solutions in North America, with a robust portfolio that includes valves, hydrants, and leak detection systems. The company aims to enhance operational efficiency and customer service for municipalities.
Mueller Water Products, Inc. (NYSE: MWA) announced a quarterly dividend of 5.50 cents ($0.055) per share, set to be paid on May 20, 2021. This dividend will benefit stockholders on record as of the close of business on May 10, 2021. The company specializes in water transmission and distribution products and services in North America, focusing on enhancing operational efficiencies for municipalities. Their product range includes engineered valves, fire hydrants, and leak detection systems.
Mueller Water Products, Inc. (NYSE: MWA) will report its second-quarter financial results after market close on May 3, 2021. A conference call is scheduled for May 4, 2021, at 9:00 a.m. ET to discuss the earnings and business outcomes. Investors can access the call through a webcast on the company’s Investor Relations page. Mueller is a prominent manufacturer of water transmission, distribution, and measurement products in North America, focusing on enhancing operational efficiencies for municipalities.
Mueller Water Products (NYSE: MWA) has appointed Jeffery S. Sharritts to its Board of Directors. Sharritts, currently Senior VP of the Americas at Cisco, oversees over $29 billion in sales across 49 countries. His extensive experience includes roles in U.S. Commercial Sales and expansion into Latin America and Canada. The Board believes his technological transformation expertise will enhance Mueller's growth in technology-driven products and services. This appointment aligns with the company’s strategy to expand beyond North America.