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Dec 31, 2024
Mueller Q1 2025 Earnings Report
Net sales increased due to higher volumes and pricing, operating income and adjusted EBITDA also increased, and annual guidance for fiscal 2025 net sales and adjusted EBITDA was raised.
Key Takeaways
Mueller Water Products reported strong first quarter results for fiscal year 2025, with net sales increasing by 18.7% to $304.3 million compared to the prior year. The company reported a net income of $35.3 million and an adjusted EBITDA of $63.5 million. As a result of the strong performance, the company raised its annual guidance for fiscal 2025 net sales and adjusted EBITDA.
Net sales increased 18.7 percent to $304.3 million compared to the prior year quarter.
Operating income increased to $47.4 million, and adjusted operating income increased 78.2 percent to $52.4 million.
Net income increased to $35.3 million, with adjusted net income increasing 97.0 percent to $39.2 million.
Adjusted EBITDA increased 41.7 percent to $63.5 million.
Revenue by Segment
Forward Guidance
The Company is increasing its guidance for fiscal 2025 consolidated net sales to be between $1,370 million and $1,390 million, or an increase of 4.2 percent to 5.7 percent compared with the prior year. The Company is also increasing its expectations for fiscal 2025 adjusted EBITDA to be between $310 million and $315 million, or an increase of 8.9 percent to 10.6 percent compared with the prior year.
Positive Outlook
- Fiscal 2025 consolidated net sales to be between $1,370 million and $1,390 million.
- Fiscal 2025 adjusted EBITDA to be between $310 million and $315 million.
- Free cash flow as a percentage of adjusted net income to be more than 80 percent in fiscal 2025.
- Total SG&A expenses between $240 million and $244 million
- Pension benefit other than service of approximately $0.2 million
Challenges Ahead
- This guidance does not include any potential impacts from the recently announced tariffs.
- Net interest expense between $10.5 million and $11.5 million
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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