MUELLER INDUSTRIES ($NYSE:MLI) announced their financial results for the second quarter of FY2023, which ended on June 30 2023, on July 25 2023. Total revenue for the quarter was USD 897.0 million, a decrease of 22.0% year-over-year, while net income decreased 14.0% to USD 177.7 million compared to the same period in FY2022.
MUELLER INDUSTRIES reported its Q2 earnings results for fiscal year 2023 on Tuesday, and the stock opened at $89.1 before closing at $82.7, a drop of 9.9% from the prior closing price of $91.8. Overall, while the company’s financial performance was not as strong as hoped due to declines in its gross profit margin and operating margin, its total revenue still saw an increase compared to the previous year. Investors will be closely watching the company’s performance in the second half of fiscal year 2023 to see if it can rebound and increase its profitability. Live Quote…
GoodWhale recently conducted an analysis of MUELLER INDUSTRIES‘ overall health. The results of our analysis indicated that the company is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This is good news for investors, as MUELLER INDUSTRIES has a high health score of 10/10 with regard to its cashflows and debt – indicating that the company is capable of safely riding out any crisis without the risk of bankruptcy. Furthermore, MUELLER INDUSTRIES is strong in asset, dividend and growth, and of medium strength in profitability. As such, investors interested in a long-term, stable company may be interested in MUELLER INDUSTRIES. More…
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. 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.
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Mueller Industries reported its earnings for FY2023 Q2 on July 25, revealing a total revenue of USD 897.0 million, 22% lower than the previous year. Net income decreased by 14%, amounting to USD 177.7 million. As a result, the stock price fell on the same day.
Investors should conduct further research and analysis before investing in Mueller Industries as the company has seen declining revenue and profitability in the last quarter. Furthermore, they should consider macroeconomic factors and any potential risks that may affect Mueller Industries’ future performance.
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