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Dec 31, 2021
Mueller Q1 2022 Earnings Report
Reported strong net sales growth and increased adjusted net income per diluted share.
Key Takeaways
Mueller Water Products reported a 14.7% increase in net sales to $272.3 million and a net income of $19.4 million for the first quarter of 2022. The company saw growth in both Water Flow Solutions and Water Management Solutions segments, driven by increased volumes and higher pricing. They are raising their annual guidance for both consolidated net sales and adjusted EBITDA growth.
Net sales increased 14.7 percent to $272.3 million.
Net income was $19.4 million.
Adjusted net income per diluted share increased 18.2 percent to $0.13.
Adjusted EBITDA increased 6.3 percent to $47.5 million.
Revenue by Segment
Forward Guidance
For the full-year fiscal 2022, the Company currently anticipates that consolidated net sales will increase between 6 and 10 percent as compared with the prior year. Based on first quarter performance, backlog, current expectations for end markets, increased price and inflation, the Company believes that adjusted EBITDA will increase between 6 and 10 percent as compared with the prior year.
Positive Outlook
- Consolidated net sales are expected to increase between 6 and 10 percent.
- Adjusted EBITDA will increase between 6 and 10 percent.
- Company expects to generate positive free cash flow for the full year.
- Current backlog will support growth.
- Strength of end markets will support growth.
Challenges Ahead
- Challenges associated with higher inflation will continue.
- Labor availability will continue to be a challenge.
- Supply chain disruptions will continue in fiscal 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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