Mueller Industries, Inc. ( (MLI) ) has released its Q4 earnings. Here is a breakdown of the information Mueller Industries, Inc. presented to its investors.
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Mueller Industries, Inc., a leading industrial corporation, manufactures essential products for markets including air, water, oil and gas distribution, and climate comfort, with operations spanning North America, Europe, Asia, and the Middle East. In its latest earnings report for the fiscal year 2024, Mueller Industries, Inc. showcased a significant increase in quarterly net sales, reporting $923.5 million for the fourth quarter, a 26.1% rise compared to the same period last year. The company’s net income also rose by 15.4% to $137.7 million, with diluted earnings per share improving to $1.21.
For the full year 2024, Mueller Industries reported net sales of $3.8 billion, a 10.2% increase from the previous year. Operating income saw a modest rise of 1.9% to $770.4 million, while net income remained relatively stable at $604.9 million. The company’s strong cash generation was highlighted, with $140.1 million from operations in the fourth quarter and $645.9 million for the entire year, boosting their cash and short-term investments to $1.06 billion.
Key growth drivers included the integration of newly acquired businesses and improved sales volumes in U.S. construction-related products. The company’s strategic acquisitions, such as Nehring Electrical Works and Elkhart Products, were integrated successfully by year-end. Despite these acquisitions not contributing to the fourth-quarter operating income, they are expected to play a significant role in 2025.
Looking ahead, Mueller Industries remains optimistic about its growth prospects, with various initiatives underway to strengthen core operations and explore further acquisitions. The company is well-positioned in the U.S. market, anticipating positive impacts from potential regulatory changes while focusing on expanding its infrastructure products platforms.
