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Mar 31, 2022
Mueller Q2 2022 Earnings Report
Reported increased net sales and net income for the second quarter of 2022.
Key Takeaways
Mueller Water Products reported a 16.1% increase in net sales to $310.5 million for Q2 2022, with net income increasing by 12.9% to $23.6 million. The company's performance was driven by higher pricing and increased volumes, though margins were impacted by supply chain disruptions and inflationary pressures.
Net sales increased by 16.1 percent compared to the prior year quarter.
Net income increased by 12.9 percent compared to the prior year quarter.
Operating income increased to $34.2 million.
The company is raising its expectations for annual net sales growth.
Mueller
Mueller
Mueller Revenue by Segment
Revenue by Segment
Water Flow Solutions Revenue
CapyFin.comWater Management Solutions Revenue
CapyFin.com Forward Guidance
Mueller Water Products anticipates that consolidated net sales for the full-year fiscal 2022 will increase between 10 and 12 percent as compared with the prior year. The Company expects adjusted EBITDA to increase between 7 and 10 percent as compared with the prior year and to generate positive free cash flow for the full year.
Positive Outlook
- Consolidated net sales for the full-year fiscal 2022 will increase between 10 and 12 percent as compared with the prior year.
- Adjusted EBITDA to increase between 7 and 10 percent as compared with the prior year
- Generate positive free cash flow for the full year.
- Expect higher price realization will help offset the elevated manufacturing costs
- Expect to sequentially improve margins in the second half of the year.
Challenges Ahead
- Challenges associated with the supply chain disruptions will continue in the second half of fiscal 2022.
- Higher inflation will continue in the second half of fiscal 2022.
- Manufacturing performance will continue to be a challenge in the second half of fiscal 2022.
- Conversion margins were below expectations
- Experienced unfavorable manufacturing performance at foundries
Revenue & Expenses
Visualization of income flow from segment revenue to net income