Mueller Industries Quarterly Profit, Revenue Advance

(RTTNews) - Mueller Industries, Inc. (MLI) on Tuesday reported net income of $125.6 million or $2.21 per share in the fourth quarter, significantly higher than $36.4 million or $0.64 per share in the same quarter a year ago.

Net sales for the quarter rose 42% year-over-year to $956.36 million, driven by U.S business volume growth, copper price increase, and contributions of recently acquired H&C Flex business.

Looking forward, Greg Christopher, CEO, commented, "We anticipate continued momentum in the building construction and industrial markets in 2022, both important end markets for our businesses. Mueller is well positioned to build upon its success as we start the new year with healthy order books and our manufacturing facilities operating at highly efficient levels."