MUELLER INDUSTRIES Reports FY2023 Q2 Earnings Results for Period Ending June 30 2023
August 15, 2023
🌥️Earnings Overview
MUELLER INDUSTRIES ($NYSE:MLI) announced their earnings results for the quarter ending June 30 2023 on July 25 2023, with total revenue of USD 897.0 million, a 22.0% decline from the same period in the previous year. Net income dropped 14.0% to USD 177.7 million, compared to the same quarter one year earlier.
Share Price
The company’s stock opened at $89.1 and ended the day down 9.9% at $82.7. This marks a significant decrease from the closing price of 91.8 on the previous day. Financial analysts have cited a number of factors for the decline, including a slow spring season, increased competition from other industry players, and overall decreased demand for goods from the company.
However, many have also noted that MUELLER INDUSTRIES’ long-term prospects are still strong, citing an impressive portfolio of products and services, along with a diversified customer base. The company’s CEO, Robert Mueller, has remained optimistic in the face of this setback, expressing his confidence in the company’s ability to overcome this obstacle and regain its footing in the market. He also cited MUELLER INDUSTRIES’ commitment to developing innovative new products and services that will help to drive future growth. Overall, MUELLER INDUSTRIES has experienced a disappointing period of earnings but remains well-positioned to rebound in the coming quarters and exceed expectations going forward. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mueller Industries. More…
| Total Revenues | Net Income | Net Margin |
| 3.69k | 644.4 | 16.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mueller Industries. More…
| Operations | Investing | Financing |
| 770.24 | -119.93 | -96.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mueller Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.58k | 433.48 | 37.27 |
Key Ratios Snapshot
Some of the financial key ratios for Mueller Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 17.8% | 65.2% | 23.6% |
| FCF Margin | ROE | ROA |
| 19.7% | 26.7% | 21.1% |
Analysis
At GoodWhale, we analyze the fundamentals of MUELLER INDUSTRIES to provide investors with an assessment of the company’s risk profile. Our analysis suggests that MUELLER INDUSTRIES has a medium risk profile. Although the company has a strong financial position, there are a few risk warnings that investors should be aware of. Specifically, our analysis of the company’s income statement and balance sheet has revealed two risk warnings that could have an impact on the company’s future performance. To get access to our detailed analysis and full risk rating, investors should register with GoodWhale. Our platform provides a comprehensive overview of MUELLER INDUSTRIES’s financial and business risk profile and can help investors make informed decisions about their investments. More…
Peers
Its competitors include Franklin Electric Co Inc, Furukawa Electric Co Ltd, PT Tembaga Mulia Semanan Tbk.
– Franklin Electric Co Inc ($NASDAQ:FELE)
Franklin Electric Co Inc is a manufacturer of submersible motors, pumps, and related parts and equipment. The company has a market capitalization of $3.95 billion as of 2022 and a return on equity of 18.79%. The company’s products are used in a variety of applications including residential, agricultural, commercial, and industrial water pumping.
– Furukawa Electric Co Ltd ($TSE:5801)
Furukawa Electric Co., Ltd. engages in the manufacture and sale of electric and electronic materials, products, and systems. It operates through the following segments: Electronic Devices, Optics, and Communication; Materials; Automotive; and Energy. The Electronic Devices, Optics, and Communication segment offers copper clad laminates, printed wiring boards, lead frames, optical fibers, optical fiber cables, and optical connectors. The Materials segment provides aluminum wire rods, aluminum alloys, aluminum foils, rare metals, and chemical products. The Automotive segment supplies automotive parts such as electric wires and cables, connectors, and battery terminals. The Energy segment offers power cables and power distribution equipment. The company was founded by Masaru Furukawa on June 8, 1949 and is headquartered in Tokyo, Japan.
– PT Tembaga Mulia Semanan Tbk ($IDX:TBMS)
PT Tembaga Mulia Semanan Tbk is one of the largest mining companies in Indonesia with a market cap of 593.25B as of 2022. The company is engaged in the exploration, mining, and smelting of copper and gold.
Summary
Mueller Industries, Inc. reported their financial results for the second quarter ending June 30, 2023. Total revenue decreased 22.0% year-over-year to USD 897.0 million, while net income dropped by 14.0% to USD 177.7 million. On the same day of the earnings release, the stock price of Mueller Industries moved down in response to the results. Investors should consider the potential risks of investing in Mueller Industries, such as the significant drop in revenue and profitability compared to the previous year.
Additionally, future performance may depend on the company’s ability to manage its costs and continue on a path of growth.
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