NYSE$MLI
Mueller Industries Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Mueller Industries reported increased net sales and solid financial performance despite persistent inflation and restrained construction activity.
Mueller Industries reported a net sales increase to $997.7 million compared to $897.0 million in the second quarter of 2023. Operating income was $210.0 million, slightly below the $210.7 million reported in the same period last year. Net income reached $160.2 million, compared to $177.7 million in Q2 2023, with diluted EPS at $1.41 versus $1.56.
- Net sales increased due to higher unit shipments, price increases tied to higher copper prices, and the inclusion of Nehring business sales.
- Operating income performance improved by 9.8% over the prior year period, adjusting for the insurance settlement gain in 2023.
- Net cash from operations was $100.8 million, with a cash balance of $825.7 million at quarter end.
- Cash deployment included $566.6 million for acquisitions and $15.1 million in stock repurchases.
Headline financials
Revenue & EPS history
Mueller Industries · Revenue · Quarterly
$998M
Forward guidance
Mueller Industries maintains a positive long-term outlook, expecting internal investments and the Nehring Electrical Works acquisition to yield greater benefits as market conditions improve.
Tailwinds
- Internal investments are expected to yield greater benefits as market conditions improve.
- Acquisition of Nehring Electrical Works provides a substantial platform for expansion in the energy infrastructure space.
- Businesses continue to perform well despite persistent heightened inflation.
- Businesses continue to perform well despite restrained construction activity.
- Current ratio remains solid at 4.7 to 1.
Headwinds
- Persistent heightened inflation.
- Restrained construction activity.
- Economic conditions.
- Currency conditions.
- Continued availability of raw materials and energy.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+2.2%
Avg return
Earnings day
+3.6%
Avg return
5 days after
+6.1%
Avg return
30 days after
71%
49 / 69 earnings
Positive
+15.8%
Q2 2022
Best reaction
-12.5%
Q4 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.3% | +12.5% | +10.4% | |
| Q4 2025 | -11.2% | -15.3% | -16.0% | |
| Q3 2025 | +4.1% | +2.7% | +4.2% | |
| Q2 2025 | +3.1% | +1.8% | +9.9% | |
| Q1 2025 | +2.6% | +0.4% | +6.0% | |
| Q4 2024 | -2.2% | +2.9% | +1.9% | |
| Q3 2024 | +12.4% | +13.6% | +27.2% | |
| Q2 2024 | +2.0% | +9.0% | +7.4% | |
| Q1 2024 | +8.3% | +7.1% | +8.8% | |
| Q4 2023 | +1.5% | +2.7% | +7.4% | |
| Q3 2023 | +6.4% | +7.8% | +16.4% | |
| Q2 2023 | -10.9% | -11.4% | -17.2% | |
| Q1 2023 | +1.5% | +3.7% | +10.1% | |
| Q4 2022 | +6.9% | +4.6% | +7.4% | |
| Q3 2022 | +3.5% | +3.2% | +12.8% | |
| Q2 2022 | +15.8% | +14.5% | +28.1% | |
| Q1 2022 | +13.7% | +9.3% | +0.7% | |
| Q4 2021 | +6.0% | +6.8% | +11.5% | |
| Q3 2021 | +7.9% | +13.0% | +39.1% | |
| Q2 2021 | +10.3% | +9.5% | +12.3% | |
| Q1 2021 | +0.8% | +1.5% | +3.0% | |
| Q4 2020 | +1.0% | +4.9% | +14.2% | |
| Q3 2020 | +2.2% | +4.2% | +12.5% | |
| Q2 2020 | +5.3% | +4.2% | +12.5% | |
| Q1 2020 | +1.4% | -0.3% | +4.4% | |
| Q4 2019 | +14.0% | +11.4% | -7.3% | |
| Q3 2019 | +5.1% | +5.6% | +5.0% | |
| Q2 2019 | +9.4% | +11.6% | -4.6% | |
| Q1 2019 | -7.6% | -5.6% | -11.9% | |
| Q4 2018 | +15.2% | +17.0% | +19.4% | |
| Q3 2018 | -4.7% | -2.5% | -5.6% | |
| Q2 2018 | +10.0% | +9.5% | +12.9% | |
| Q1 2018 | +0.1% | +0.8% | +9.1% | |
| Q4 2017 | -12.5% | -14.7% | -13.3% | |
| Q3 2017 | +0.8% | -1.4% | +2.5% | |
| Q2 2017 | +2.0% | +2.9% | -4.1% | |
| Q1 2017 | -4.2% | -6.2% | -16.4% | |
| Q4 2016 | +4.3% | +7.3% | -3.3% | |
| Q3 2016 | -3.4% | -4.6% | +22.3% | |
| Q2 2016 | +1.4% | +0.6% | +2.9% | |
| Q1 2016 | +2.7% | — | — | |
| Q4 2015 | +0.0% | — | — | |
| Q3 2015 | +1.8% | — | — | |
| Q2 2015 | -4.1% | — | — | |
| Q1 2015 | -2.7% | — | — | |
| Q4 2014 | +6.0% | — | — | |
| Q3 2014 | +5.9% | — | — | |
| Q2 2014 | +3.6% | — | — | |
| Q1 2014 | -3.9% | — | — | |
| Q4 2013 | -2.7% | — | — | |
| Q3 2013 | -0.4% | — | — | |
| Q2 2013 | +3.6% | — | — | |
| Q1 2013 | +1.5% | — | — | |
| Q4 2012 | +2.1% | — | — | |
| Q3 2012 | -5.4% | — | — | |
| Q2 2012 | -0.6% | — | — | |
| Q1 2012 | +2.7% | — | — | |
| Q4 2011 | -0.9% | — | — | |
| Q3 2011 | +9.1% | — | — | |
| Q2 2011 | -2.7% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q1 2010 | +0.3% | — | — | |
| Q2 2010 | +0.3% | — | — | |
| Q4 2010 | -2.4% | — | — | |
| Q4 2008 | -2.4% | — | — | |
| Q3 2010 | +1.2% | — | — | |
| Q3 2009 | +1.2% | — | — | |
| Q2 2009 | +2.8% | — | — | |
| Q4 2009 | +2.8% | — | — |
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