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Mueller Industries Q3 earnings rise to $221M

Mueller repurchased 3.2 million shares for $201.9 million during the quarter; year-to-date repurchases totaled 4.5 million shares.

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Form Type
8-K

Rhea-AI Filing Summary

Mueller Industries (MLI) reported Q3 2026 net sales of $1.42 billion, compared with $1.08 billion in Q3 2025. Net income attributable to Mueller was $221.2 million versus $208.1 million, and operating income was $281.6 million versus $276.1 million. Diluted EPS was $1.00 versus $0.94, and dividends per share were $0.175 versus $0.125; per-share figures reflect the two-for-one split effective June 30, 2026. Nine-month net sales were $4.04 billion versus $3.22 billion, while net income attributable to Mueller was $709.9 million versus $611.5 million.

Management attributed quarterly sales growth to unit-volume gains across most businesses and price adjustments tied to higher material costs; results included $9.4 million in charges related to purchase accounting for recent acquisitions. Net cash generated from operations was $337.0 million, and cash and short-term investments were $1.48 billion at quarter-end. The CEO said year-over-year earnings growth had continued for nine consecutive quarters, with healthy demand and growing backlogs in all three segments, while residential construction remained in a protracted decline. Strategic priorities include North American manufacturing investment, new products and expanded distribution capabilities.

3 points · 0 major

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Positive

  • Moderate pointQuarterly net sales reached $1.42 billion, versus $1.08 billion.
  • Moderate pointQuarterly net income was $221.2 million, versus $208.1 million.
  • Minor pointQuarterly dividends per share rose to $0.175 from $0.125.

Negative

  • None.

Filing Explained

Mueller reports completed purchases of 3.2 million common shares for $201.9 million during the quarter and 4.5 million year to date, directing company funds to buybacks rather than a future repurchase plan.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Net sales $1.42 billion Q3 2026, compared with $1.08 billion in Q3 2025
Net income attributable to Mueller $221.2 million Q3 2026, compared with $208.1 million in Q3 2025
Operating income $281.6 million Q3 2026, compared with $276.1 million in Q3 2025
Diluted EPS $1.00 Q3 2026, compared with $0.94 in Q3 2025; adjusted for the two-for-one stock split
Dividends per share $0.175 Q3 2026, compared with $0.125 in Q3 2025; adjusted for the two-for-one stock split
Net cash generated from operations $337.0 million Q3 2026
Common stock repurchases $201.9 million for 3.2 million shares During Q3 2026
Cash and short-term investments $1.48 billion At quarter-end
purchase accounting financial
"charges related to purchase accounting for recent acquisitions"
Purchase accounting is the method used to record a company acquisition by treating the buyer as if it bought each asset and assumed each liability at their fair values on the purchase date. It matters to investors because this re‑valuation can create or change visible items like goodwill, cause future earnings to be lower or higher as costs are spread out, and alter balance sheet strength—much like re‑tagging items and debts after buying a house affects your net worth and monthly costs.
COMEX copper financial
"COMEX copper averaged $6.48 per pound during the quarter"
COMEX copper is the benchmark copper futures contract traded on the COMEX division of the CME Group, representing a standardized agreement to buy or sell a set amount of copper at a future date. It acts like a central marketplace price tag for copper, helping producers, manufacturers and investors lock in prices, hedge risk and gauge global supply-and-demand trends—changes in the COMEX copper price often ripple through mining stocks, metal suppliers and industrial markets.
current ratio financial
"Our current ratio remains strong at 4.4 to 1."
The current ratio measures a company’s short-term ability to pay upcoming bills by comparing assets that can be turned into cash within a year (like cash, inventory, and receivables) to obligations due within the same period. Investors use it like a household budget check — a ratio above 1 suggests the company has more short-term resources than immediate debts, while a very low or very high ratio can signal liquidity risk or inefficient use of assets.
unconsolidated affiliates financial
"Income from unconsolidated affiliates, net of foreign tax"
Companies in which a reporting firm owns a meaningful stake but does not have control, so their assets and liabilities are not merged into the reporting firm's financial statements. For investors, unconsolidated affiliates matter because the parent’s exposure to profits, losses and risks from those businesses appears differently—often as a single investment line or share of income—so you need to look beyond headline figures to judge the parent’s true economic ties and risks, like being a silent partner rather than the manager.
Net sales $1.42 billion Compared with $1.08 billion in Q3 2025
Net income attributable to Mueller $221.2 million Compared with $208.1 million in Q3 2025
Operating income $281.6 million Compared with $276.1 million in Q3 2025
Diluted EPS $1.00 Compared with $0.94 in Q3 2025
Dividends per share $0.175 Compared with $0.125 in Q3 2025
Guidance

Management said it remains optimistic while executing strategic priorities, including investments in North American manufacturing operations, expanding product offerings and distribution capabilities.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were MLI's third-quarter 2026 net sales?
Mueller Industries reported Q3 2026 net sales of $1.42 billion, compared with $1.08 billion in Q3 2025. The company said unit-volume growth across most businesses and price adjustments related to rising material costs contributed to the increase.

What were MLI's third-quarter 2026 net income and diluted EPS?
Net income attributable to Mueller was $221.2 million, compared with $208.1 million in Q3 2025; diluted EPS was $1.00, versus $0.94. Per-share figures were adjusted retroactively to reflect the two-for-one stock split that occurred on June 30, 2026.

How many shares did MLI repurchase in Q3 2026?
Mueller repurchased 3.2 million shares for $201.9 million during the quarter. Year-to-date purchases were 4.5 million shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR
0000089439FALSE00000894392026-04-212026-04-21


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):October 20, 2026
mlilogo.jpg

MUELLER INDUSTRIES INC.
(Exact name of registrant as specified in its charter)  
Delaware1-677025-0790410
(State or other jurisdiction(Commission File(IRS Employer
of incorporation)Number)Identification No.)
  
150 Schilling BoulevardSuite 100
ColliervilleTennessee38017
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code:(901)753-3200
Registrant’s Former Name or Address, if changed since last report:N/A
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) 
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) 
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) 
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of exchange on which registered
Common StockMLINYSE
 
 Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new of revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02.Results of Operations and Financial Condition.

On October 20, 2026, the Registrant issued a press release announcing earnings for the quarter ended September 26, 2026. A copy of the press release announcing the third quarter 2026 earnings is attached as Exhibit 99.1.

Item 9.01.Financial Statements and Exhibits.
 
(d) Exhibits
 
99.1
Press release, dated October 20, 2026 reporting third quarter 2026 earnings.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 




















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 SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
 
MUELLER INDUSTRIES, INC.
By:
/s/ ANTHONY J. STEINRIEDE
Name:Anthony J. Steinriede
Title:Vice President - Corporate Controller
October 20, 2026

 

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muellerlogoa07a.jpg

Mueller Industries, Inc. Reports Third Quarter 2026 Earnings

COLLIERVILLE, Tenn., October 20, 2026 -- Mueller Industries, Inc. (NYSE: MLI) announces results for the third quarter of 2026. Comparisons are to the third quarter of 2025.
•Net Sales increased to $1.42 billion versus $1.08 billion.
•Net Income increased to $221.2 million versus $208.1 million.
•Operating Income increased to $281.6 million versus $276.1 million.
•Diluted EPS* increased to $1.00 versus $0.94.
•Dividends per share* increased to $.175 versus $.125.
* Diluted EPS and dividends per share have been adjusted to reflect the two-for-one stock split that took effect on 6/30/2026.

Third Quarter Financial and Operating Highlights:
•COMEX copper averaged $6.48 per pound during the quarter, a 34.2 percent increase over the prior year period.
•Unit volume growth across most of our businesses, combined with price adjustments related to the rise in material costs, contributed to the increase in net sales.
•The results include $9.4 million in charges related to purchase accounting for recent acquisitions.
•Net cash generated from operations was $337.0 million, raising our cash and short-term investments at quarter end to $1.48 billion.
•During the quarter, we purchased 3.2 million shares of our common stock for a total of $201.9 million. Year-to-date, we have purchased 4.5 million shares.
• Our current ratio remains strong at 4.4 to 1.

Regarding the results, Greg Christopher, Mueller’s CEO said, “For the ninth consecutive quarter, we delivered year over year earnings growth driven by stronger performance across all three of our business segments. Throughout the quarter, demand remained healthy and backlogs grew in each segment, largely propelled by U.S. data center expansions and other commercial building activities. These results are particularly noteworthy given the protracted decline in the residential construction market. Our team has done an excellent job adjusting to shifts in demand and mix, as well as managing price relative to cost escalation.”

Regarding the outlook, he added “As we approach the finish line for 2026 and look ahead, we remain optimistic as we execute on our key strategic priorities. These include investments in our North American manufacturing operations to reduce costs and reshore production to support shifting demand, along with initiatives to increase our product offerings and expand distribution capabilities across multiple business
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segments. These actions will keep us well-positioned to capitalize on opportunities when residential building construction recovers in the U.S. and global economic conditions improve.”

Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; electrical transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East.
*********************
Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.

CONTACT
Jeffrey A. Martin
(901) 753-3226
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MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)

For the Quarter EndedFor the Nine Months Ended
(In thousands, except per share data)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Net sales$1,418,598 $1,077,824 $4,039,526 $3,216,162 
Cost of goods sold1,057,156738,1482,924,2942,251,527
Depreciation and amortization21,17316,60755,16051,635
Selling, general, and administrative expense63,04861,657197,683192,238
(Gain) loss on disposal of assets, net— (11,852)1,720 (26,654)
Gain on sale of business— — (41,407)— 
Asset impairments— 2,018 2,653 2,018 
Gain on insurance proceeds(4,352)(4,869)(4,352)(41,147)
Operating income281,573276,115903,775786,545
Interest expense(136)(6)(270)(48)
Interest income12,002 10,822 34,850 28,945 
Unrealized gains (losses) on short-term investments5,859 (2,277)10,367 5,925 
Pension plan termination expense— (4,830)— (4,830)
Other (expense) income, net(62)627 (2,421)(423)
Income before income taxes299,236280,451 946,301816,114 
Income tax expense(76,607)(73,904)(239,031)(204,236)
Income from unconsolidated affiliates, net of foreign tax1,688 3,701 8,723 6,140 
Consolidated net income224,317 210,248 715,993 618,018 
Net income attributable to noncontrolling interests(3,117)(2,125)(6,120)(6,539)
Net income attributable to Mueller Industries, Inc.$221,200 $208,123 $709,873 $611,479 
Weighted average shares for basic earnings per share (1)
216,988218,228217,530219,066
Effect of dilutive stock-based awards (1)
3,1293,6323,5134,230
Adjusted weighted average shares for diluted earnings per share (1)
220,117221,860221,043223,296
Basic earnings per share (1)
$1.02 $0.95 $3.26 $2.79 
Diluted earnings per share (1)
$1.00 $0.94 $3.21 $2.74 
Dividends per share (1)
$0.175 $0.125 $0.525 $0.375 
(1) Adjusted retroactively to reflect the two-for-one stock split that occurred on June 30, 2026.
3

MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME, CONTINUED
(Unaudited)
For the Quarter EndedFor the Nine Months Ended
(In thousands)September 26, 2026September 27, 2025September 26, 2026September 27, 2025
Summary Segment Data:
Net sales:
    Piping Systems Segment$890,610 $718,404 $2,597,713 $2,101,562 
    Industrial Metals Segment409,377248,9391,085,652771,450
    Climate Segment142,827126,665411,544387,287
    Elimination of intersegment sales(24,216)(16,184)(55,383)(44,137)
Net sales
$1,418,598 $1,077,824 $4,039,526 $3,216,162 
Operating income:
    Piping Systems Segment$225,260 $216,159 $690,616 $624,619 
    Industrial Metals Segment33,71330,928120,77191,622
    Climate Segment46,27038,900122,232117,152
    Unallocated expenses(23,670)(9,872)(29,844)(46,848)
Operating income$281,573 $276,115 $903,775 $786,545 


4

MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
 
(Unaudited)
(In thousands)
September 26,
2026		December 27, 2025
ASSETS
Cash and cash equivalents$1,447,799 $1,367,003 
Short-term investments33,10022,733
Accounts receivable, net
723,993475,566
Inventories621,390510,463
Other current assets
53,21569,980
    Total current assets2,879,4972,445,745
Property, plant, and equipment, net602,787536,466
Operating lease right-of-use assets
21,06627,211 
Other assets
794,244723,607
Total assets$4,297,594 $3,733,029 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable$297,923 $180,577 
Current portion of operating lease liabilities
8,181 8,520 
Other current liabilities
349,488224,037
    Total current liabilities655,592413,134
Long-term debt5,243—
Pension and postretirement liabilities8,7488,393
Environmental reserves15,75815,684
Deferred income taxes46,34531,640
Noncurrent operating lease liabilities13,09718,970 
Other noncurrent liabilities
10,4939,302
    Total liabilities
755,276497,123
Total Mueller Industries, Inc. stockholders’ equity3,511,451 3,209,966
Noncontrolling interests
30,867 25,940
    Total equity
3,542,318 3,235,906
Total liabilities and equity$4,297,594 $3,733,029 








5

MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

For the Nine Months Ended
 (In thousands)
September 26, 2026September 27, 2025
Cash flows from operating activities
Consolidated net income$715,993 $618,018 
Reconciliation of consolidated net income to net cash provided by operating activities:
Depreciation and amortization55,160 51,635 
Stock-based compensation expense23,307 20,328 
Provision for credit losses802 67 
Income from unconsolidated affiliates(8,723)(6,140)
Dividends from unconsolidated affiliates5,701 5,440 
Insurance proceeds - noncapital related— 15,469 
Loss (gain) on disposals of assets, net1,720 (26,654)
Gain on sale of business(41,407)— 
Unrealized gains on short-term investments(10,367)(5,925)
Impairment charges2,653 2,018 
Gain on insurance proceeds(4,352)(41,147)
Deferred income tax expense17,282 10,627 
Changes in assets and liabilities, net of effects of businesses acquired and sold:
Receivables(253,596)(100,830)
Inventories(95,916)(40,669)
Other assets3,466 (8,756)
Current liabilities219,818 120,796 
Other liabilities1,376 286 
Other, net(3,952)(330)
Net cash provided by operating activities$628,965 $614,233 
Cash flows from investing activities
Capital expenditures$(60,764)$(48,982)
Acquisition of business, net of cash acquired(135,752)— 
Proceeds from sale of business, net of cash sold57,004 — 
Insurance proceeds - capital related4,352 4,531 
Purchase of short-term investments— (26,633)
Purchase of long-term investments(5,834)(781)
Proceeds from sales of assets62 38,478 
Other— 600 
Net cash used in investing activities$(140,932)$(32,787)
6

MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For the Nine Months Ended
 (In thousands)September 26, 2026September 27, 2025
Cash flows from financing activities
Dividends paid to stockholders of Mueller Industries, Inc.$(113,869)$(81,723)
Repurchase of common stock(278,297)(243,615)
Repayments of debt— (185)
Net cash used to settle stock-based awards(24,882)(29,528)
Dividends paid to noncontrolling interests(5,051)(12,240)
Other3,100 — 
Net cash used in financing activities$(418,999)$(367,291)
Effect of exchange rate changes on cash(4,214)9,836 
Increase in cash, cash equivalents, and restricted cash64,820 223,991 
Cash, cash equivalents, and restricted cash at the beginning of the period1,385,157 1,038,895 
Cash, cash equivalents, and restricted cash at the end of the period$1,449,977 $1,262,886 
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Source: View Original Filing on SEC EDGAR

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