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Jun 27, 2020
Mueller Industries Q2 2020 Earnings Report
Mueller Industries reported second-quarter results with stable operating income and earnings per share despite a decrease in net sales.
Key Takeaways
Mueller Industries reported second-quarter operating income of $52.3 million, slightly up from $51.5 million in the prior year. Net income was $28.0 million, or 50 cents per diluted share, matching the 2019 figure. However, net sales decreased to $500.2 million from $666.4 million in the same quarter last year, impacted by lower copper prices and reduced volumes due to COVID-19 shutdowns.
Operating income increased slightly year-over-year to $52.3 million.
Net income remained consistent with the prior year at $28.0 million, or $0.50 per diluted share.
Net sales decreased to $500.2 million due to lower copper prices and reduced volumes from COVID-19 shutdowns.
Cash from operations was $114.7 million, and $145.0 million was repaid on the revolving credit facility.
Mueller Industries
Mueller Industries
Mueller Industries Revenue by Segment
Revenue by Segment
Piping Systems Segment Revenue
CapyFin.comIndustrial Metals Segment Revenue
CapyFin.comClimate Segment Revenue
CapyFin.com Forward Guidance
Mueller Industries anticipates business will strengthen as global economies reopen and expects to remain profitable due to its low-cost platform, even at reduced demand levels.
Positive Outlook
- Businesses are expected to strengthen as global economies reopen.
- The company's low-cost platform positions it to remain solidly profitable.
- Proactive response to the COVID-19 pandemic.
- Timely cost controls were critical to continued profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income