Mueller Industries Q1 Profit Drops, but beats estimates

(RTTNews) - Mueller Industries (MLI) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $138.36 million, or $1.21 per share. This compares with $173.24 million, or $1.54 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 12.5% to $849.65 million from $971.19 million last year.

Mueller Industries earnings at a glance (GAAP) :

-Earnings (Q1): $138.36 Mln. vs. $173.24 Mln. last year. -EPS (Q1): $1.21 vs. $1.54 last year. -Revenue (Q1): $849.65 Mln vs. $971.19 Mln last year.