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Mar 31, 2023
Mueller Q2 2023 Earnings Report
Increased net sales and delivered net income for Q2 2023.
Key Takeaways
Mueller Water Products reported a 7.2% increase in net sales, reaching $332.9 million compared to the prior year quarter. The company's net income was $21.3 million, with a diluted share of $0.14. Adjusted EBITDA margin improved sequentially by 40 basis points.
Net sales increased by 7.2 percent to $332.9 million compared to the prior year quarter.
Operating income was $32.9 million, with an adjusted operating income of $33.6 million.
Net income was $21.3 million, with adjusted net income at $21.8 million.
Adjusted EBITDA was $48.1 million, resulting in an adjusted EBITDA margin of 14.4 percent.
Revenue by Segment
Forward Guidance
The Company is reiterating its outlook for full-year 2023 net sales and adjusted EBITDA growth, which anticipates that consolidated net sales will increase between 6 percent and 8 percent as compared with the prior year, and adjusted EBITDA will increase between 10 percent and 14 percent as compared with the prior year.
Positive Outlook
- Consolidated net sales are expected to increase between 6% and 8% compared to the prior year.
- Adjusted EBITDA is projected to increase between 10% and 14% compared to the prior year.
- Adjusted operating income, excluding pension expenses, is expected to increase more than 20% compared to the prior year.
- Free cash flow is expected to increase compared to 2022.
- Anticipated benefits from higher pricing.
Challenges Ahead
- Manufacturing performance
- Higher inflation
- Supply chain disruptions
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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