NYSE$MWA

Mueller Water Products Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Achieved net sales of $265.3 million and net income of $26.7 million.

Mueller Water Products reported Q4 2020 results with net sales of $265.3 million and net income of $26.7 million. The company's adjusted EBITDA increased by 1.2 percent, and they finished the year with $209 million in cash.

  • Net sales decreased by 0.6 percent compared to the prior year quarter.
  • Operating income increased to $40.7 million from $39.0 million in the prior year quarter.
  • Net income was $26.7 million as compared with $40.2 million in the prior year quarter.
  • Adjusted EBITDA increased 1.2 percent to $57.6 million as compared with $56.9 million in the prior year quarter.

Headline financials

Total Revenue

$265M

Previous: $267M-0.6%
EPS (adj)

$0.17

Previous: $0.19-10.5%
Adjusted EBITDA

$57.6M

Previous: $56.9M+1.2%
Adjusted EBITDA Margin

21.7%

Previous: 21.3%+1.9%
Net Income

$26.7M

Previous: $40.2M-33.6%
Operating Income

$40.7M

Previous: $39M+4.4%
Gross Profit

$93.9M

Previous: $88.8M+5.7%
Cash & Equivalents

$209M

Previous: $177M+18.2%
Total Assets

$1.4B

Previous: $1.34B+4.3%
Stock-Based Comp

$1.5M

Previous: $900K+66.7%

Revenue & EPS history

Mueller · Revenue · Quarterly

$265M

Q4 2020-0.6%vs Q4 2019
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Mueller · $301M total across 2 segments · Q4 2023

  • Water Flow Solutions
    $162M-10.0%
  • Water Management Solutions
    $140M-8.0%

Forward guidance

For the full-year 2021, the Company currently anticipates that consolidated net sales will be between flat and 3 percent higher than the prior year. As a result of anticipated volumes and improved execution, the Company expects that adjusted EBITDA will increase between 4 percent and 7 percent as compared with the prior year.

Tailwinds

  • Consolidated net sales will be between flat and 3 percent higher than the prior year.
  • Expects that adjusted EBITDA will increase between 4 percent and 7 percent as compared with the prior year.
  • The Company expects to generate positive free cash flow for the full year.
  • Growth in the residential construction end market will help offset anticipated challenges in the project-related portion of the municipal end market.
  • Strong balance sheet, liquidity and cash flow to support strategies.

Headwinds

  • The operating environment to continue to be very challenging, due to the uncertainty around the depth and duration of the pandemic.
  • Expects to see delays in the approval and implementation of some new projects.
  • Project-related areas of business could be impacted.
  • Pace of residential construction is highly dependent on a number of factors, including the pandemic and the seasonality of construction activity.
  • Estimates are based on current market expectations and assume that the pandemic’s impact does not significantly change from what was experienced in the fourth quarter.

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 Q4 2020

Historical avgQ4 2020

+1.7%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+0.8%

Avg return

30 days after

63%

41 / 65 earnings

Positive

+16.7%

Q1 2025

Best reaction

-12.8%

Q1 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+1.8%-6.4%-8.1%
Q1 2026+1.5%+7.0%+1.5%
Q4 2025-4.4%-5.9%-1.8%
Q2 2025-6.3%-9.4%-9.9%
Q1 2025+16.7%+16.6%+8.5%
Q4 2024+6.2%+14.5%+11.5%
Q3 2024+2.2%+1.1%+2.8%
Q2 2024+11.0%+18.7%+9.5%
Q1 2024+10.8%+10.4%+14.5%
Q4 2023+7.4%+3.5%+0.9%
Q3 2023-10.8%-13.3%-11.0%
Q2 2023-6.4%-9.2%+3.5%
Q1 2023+7.5%+6.8%+8.2%
Q4 2022-1.7%-2.6%-0.3%
Q3 2022-9.3%-10.4%-15.6%
Q2 2022-3.0%+0.1%-0.2%
Q1 2022+0.4%+4.2%-2.3%
Q4 2021-8.5%-13.0%-15.3%
Q3 2021+2.7%+1.1%+7.4%
Q2 2021+1.9%+3.6%+0.5%
Q1 2021+2.4%+6.1%+8.6%
Q4 2020+7.7%+7.3%+13.4%
Q3 2020+6.9%+8.8%+5.0%
Q2 2020-4.6%-4.5%+3.7%
Q1 2020+3.5%+1.2%-4.6%
Q4 2019-5.1%-7.4%-2.1%
Q3 2019+3.8%+0.4%+2.0%
Q2 2019-12.8%-15.2%-12.0%
Q1 2019+6.5%+3.6%+3.9%
Q4 2018+7.3%+6.2%-4.4%
Q3 2018-5.4%-5.7%-7.5%
Q2 2018+15.4%+20.7%+23.7%
Q1 2018-2.4%-4.6%-5.5%
Q4 2017+3.7%+2.3%+3.4%
Q3 2017+6.7%+4.6%+5.0%
Q2 2017-11.9%-12.2%-12.6%
Q1 2017+0.3%-6.6%-9.2%
Q4 2016-11.8%-9.0%+9.9%
Q3 2016+4.9%+7.9%+7.7%
Q2 2016+6.1%
Q1 2016+5.9%
Q4 2015-2.1%
Q3 2015+5.8%
Q2 2015-5.5%
Q1 2015-12.8%
Q4 2014+9.7%
Q3 2014+14.8%
Q2 2014-3.0%
Q1 2014+10.0%
Q4 2013+4.4%
Q3 2013+6.2%
Q2 2013+11.4%
Q1 2013-1.3%
Q4 2012+9.7%
Q3 2012+3.1%
Q2 2012+3.1%
Q1 2012-1.4%
Q4 2009+10.3%
Q3 2010+2.9%
Q3 2011+2.9%
Q2 2011+1.7%
Q2 2010+1.7%
Q1 2011-1.5%
Q1 2010-1.5%
Q4 2010-1.5%

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