Mueller Industries Up 4.91% To $63.06 After Earnings Beat

Tuesday, October 18, 2022 - Mueller Industries (MLI) reported upside earnings and revenues today.

Analyst expectations for Mueller Industries earnings per share (EPS) were at $2.35, with the company surpassing those estimates with a reported EPS of $2.74, leading to a positive surprise of $0.39 per share (17%). Mueller Industries's earnings were down 9% year-over-year as the firm reported an EPS of $3.01 in its year-ago quarter. The negative annual growth shows the Industrials company isn't performing well amid current economic conditions.

Revenues were upbeat at $944.8 million. That revenue figure represents a 3.81% decrease from the year ago quarter.

The stock is up 4.91% to $63.06 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Mueller Industries has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 94, putting Mueller Industries in the top 25% of stocks. The firm was recently trading at a 52-week high of $70.38 on August 16, 2022 and set a 52-week low on October 18, 2021 at $42.69.

Mueller Industries Inc makes copper, brass, aluminum, and plastic products. The company reports three business segments: piping systems, industrial metals, and climate. Piping systems, earning most of the company's revenue, produces tubes, fittings, rods, valves, and other products and operates various firms worldwide. The industrial metals segment manufactures impacts and micro-gauge, brass rod and copper bar products, and brass value-added products. The climate segment produces items used to create temperature-control goods, including valves, twisted tubes, coaxial heat exchangers, and others. Numerous systems use the aforementioned products, including HVAC, water distribution, refrigeration, and automotive. Most sales derive from the United States, but the company operates worldwide.