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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%.
Mueller
Mueller
Mueller Revenue by Segment
Revenue by Segment
Water Flow Solutions Revenue
CapyFin.comWater Management Solutions Revenue
CapyFin.com 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