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Mueller Industries
🇺🇸 NYSE:MLI
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Dec 28, 2019

Mueller Industries Q4 2019 Earnings Report

Mueller Industries reported an increase in operating income and net income, despite a decrease in net sales compared to the same quarter last year.

Key Takeaways

Mueller Industries reported Q4 2019 earnings with an increase in operating income to $44.4 million from $40.0 million in Q4 2018. Net income also increased to $28.2 million, or 50 cents per diluted share, compared to $26.9 million, or 47 cents per diluted share, in the prior year. However, net sales saw a slight decrease to $543.8 million from $559.1 million in the same quarter of 2018.

Operating income for the fourth quarter increased to $44.4 million compared to $40.0 million in the same quarter of 2018.

Net income for the quarter rose to $28.2 million, or 50 cents per diluted share, from $26.9 million, or 47 cents per diluted share, in the prior year.

Net sales for the quarter decreased to $543.8 million compared to $559.1 million in the fourth quarter of 2018.

The average price of copper was lower compared to the prior year period, impacting net sales for the Piping Systems and Industrial Metals segments.

Total Revenue
$544M
Previous year: $559M
-2.7%
EPS
$0.25
Previous year: $0.24
+4.2%
Avg. Copper Price Decline
2.4%
Gross Profit
$94.4M
Previous year: $85.1M
+10.8%
Cash and Equivalents
$97.9M
Previous year: $72.6M
+34.9%
Total Assets
$1.37B
Previous year: $1.37B
+0.1%

Mueller Industries

Mueller Industries

Mueller Industries Revenue by Segment

Forward Guidance

Mueller Industries anticipates a positive outlook for 2020, supported by cost mitigation initiatives and improved performance in the Piping Systems and Climate businesses, despite softening industrial markets.

Positive Outlook

  • Cost mitigation initiatives undertaken in the second half of 2019.
  • Improved performance in Piping Systems and Climate businesses.
  • Solid fundamentals in the building construction sector.
  • Healthy or improving economies in which the company operates.
  • Tecumseh’s operating results improved in the second half of the year.

Challenges Ahead

  • Softening of the industrial markets experienced during the fourth quarter.
  • Potential for bumpy earnings from Tecumseh as it executes its restructuring plan.
  • Economic and currency conditions.
  • Continued availability of raw materials and energy.
  • Market demand, pricing, competitive and technological factors, and the availability of financing.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View Mueller Industries