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Dec 31, 2023
Mueller Q1 2024 Earnings Report
Achieved net sales of $256.4 million and reported net income per diluted share of $0.09.
Key Takeaways
Mueller Water Products reported a decrease in net sales to $256.4 million, a decrease of 18.6% compared to the prior year. Operating income also decreased to $22.8 million. Net income was reported at $14.3 million, with a net income per diluted share of $0.09. The company's adjusted EBITDA increased by 1.4% to $44.8 million.
Net sales decreased by 18.6% to $256.4 million compared to the prior year quarter.
Operating income decreased to $22.8 million from $34.0 million in the prior year quarter.
Net income decreased to $14.3 million, resulting in a net income per diluted share of $0.09.
Adjusted EBITDA increased by 1.4% to $44.8 million, with an improved adjusted EBITDA margin of 17.5%.
Revenue by Segment
Forward Guidance
The Company is slightly improving expectations for fiscal 2024 consolidated net sales to decrease between 2 and 6 percent as compared with fiscal 2023. The Company is introducing guidance for fiscal 2024 adjusted EBITDA to increase between 3 and 7 percent as compared with fiscal 2023.
Positive Outlook
- Expects free cash flow as a percentage of adjusted net income to be more than 65 percent in fiscal 2024.
Challenges Ahead
- Expects fiscal 2024 consolidated net sales to decrease between 2 and 6 percent as compared with fiscal 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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