Mueller Industries Reports Rise In Q2 Income

(RTTNews) - Mueller Industries (MLI) reported earnings for its second quarter that Increases, from last year

The company's earnings totaled $245.924 million, or $2.22 per share. This compares with $160.165 million, or $1.41 per share, last year.

Excluding items, Mueller Industries reported adjusted earnings of $217.859 million or $1.96 per share for the period.

The company's revenue for the period fell 99.9% to $1.138 billion from $997.745 billion last year.

Mueller Industries earnings at a glance (GAAP) :

-Earnings: $245.924 Mln. vs. $160.165 Mln. last year. -EPS: $2.22 vs. $1.41 last year. -Revenue: $1.138 Bln vs. $997.745 Bln last year.

Greg Christopher, CEO of Mueller, said: “Excluding the recovery reported thus far on our tornado related insurance claim, we delivered a record quarter. We are particularly pleased to see the positive progress and contributions made by Nehring and EPC, our 2024 acquisitions. Business conditions have been unsettled and increasingly challenged for quite some time. Residential construction in the U.S. remains subdued and below levels generally deemed necessary to meet growing pent up demand. We anticipate that demand will increase when interest rates are reduced. Tariff policies are another source of uncertainty, but as a general matter, we believe that the imposition of trade protections will ultimately benefit most of our portfolio companies.”