Mueller Water sees FY25 adjusted EBITDA between $300M-$305M

The company anticipates its FY25 adjusted EBITDA to be between $300M-$305M, or an increase of 5.4%-7.1% compared with FY24. The company expects total SG&A expenses to be between $236M-$240M, which is below the prior year, due to benefits from lower amortization expense and incentive compensation, partially offset by strategic investments and expected inflation. The company anticipates the second half FY25 adjusted EBITDA margin will be higher than the first half of the year primarily driven by the seasonality of net sales and continuing manufacturing performance improvements, including anticipated benefits from the closure of its legacy brass foundry along with operational and supply chain efficiencies. The company expects free cash flow as a percentage of adjusted net income to be more than 80% in FY25.