MUELLER INDUSTRIES INC

Listed Company

MLICIK 0000089439NYSELarge AcceleratedRolling Drawing & Extruding Of Nonferrous MetalsDelawareFY ends Dec 26

Period

FY 2025

Revenue

$4.18B

Net Income

$765.19M

Total Assets

$3.73B

Equity

$3.21B

Shares Out

110.57M

Op. Cash Flow

$755.44M

Business

MUELLER INDUSTRIES INC is a manufacturer of metal products serving HVAC, refrigeration, plumbing, industrial, and utility markets. It produces copper tube and fittings, line sets, brass rod, aluminum and brass forgings, impact extrusions, valves and fittings, pressure vessels, insulated flexible duct systems, wire and cable, and resells plumbing specialties. The company operates through three reportable segments: Piping Systems, Industrial Metals, and Climate, with certain corporate and eliminations functions. Products are sold domestically and internationally through direct sales, distribution centers, wholesalers, agents, and OEM channels.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	4,179	3,769	3,420	3,982	3,769
Cost of goods sold	2,966	2,724	2,434	2,865	2,939
Depreciation and amortization	69	53	40	44	45
Selling, general, and administrative expense	249	227	208	203	184
Gain on sale of businesses	0	0	−4	0	−58
Gain on disposal of assets, net	−26	−6	0	−6	0
Impairment charges	4	0	6	0	3
Gain on insurance proceeds	−41	0	−19	0	0
Operating income	959	770	756	877	656
Interest expense	−108,000	−410,000	−1	−810,000	—
Interest income	41	53	38	6	353,000
Realized and unrealized gains on short-term investments	19	900,000	42	3	0
Gain on extinguishment of NMTC liability	0	1	8	0	0
Environmental expense	−2	−2	−825,000	−1	−5
Pension plan termination expense	−5	0	0	−13	0
Other income (expense), net	1	−3	4	5	3
Income before income taxes	1,012	820	845	876	641
Income tax expense	−247	−205	−221	−223	−166
Income (loss) from unconsolidated affiliates, net of foreign tax	9	2	−15	10	−157,000
Consolidated net income	774	618	610	663	475
Net income attributable to noncontrolling interests	−8	−13	−7	−5	−7
Net income attributable to Mueller Industries, Inc.	765	605	603	658	469
Weighted average shares for basic earnings per share (in shares)	109	111	111	112	112
Effect of dilutive stock-based awards (in shares)	2	3	2	2	2
Adjusted weighted average shares for diluted earnings per share (in shares)	111	114	114	113	114
Basic earnings per share (in dollars per share)	6.99	5.43	5.41	5.9	4.18
Diluted earnings per share (in dollars per share)	6.86	5.31	5.3	5.82	4.12
Dividends per share (in dollars per share)	1	0.8	0.6	0.5	0.26

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,367	1,037	1,171	461	88
Short-term investments	23	22	98	218	0
Accounts receivable, less allowance for credit losses of $2,545 in 2025 and $3,724 in 2024	476	450	352	380	472
Inventories	510	462	380	449	430
Other current assets	70	41	39	27	29
Total current assets	2,446	2,012	2,040	1,535	1,019
Property, plant, and equipment, net	536	515	385	380	386
Operating lease right-of-use assets	27	33	35	23	24
Goodwill, net	298	311	152	158	171
Intangible assets, net	287	306	46	55	62
Investment in unconsolidated affiliates	109	88	83	72	61
Other noncurrent assets	30	25	17	20	7
Total Assets	3,733	3,291	2,759	2,242	1,729
Current portion of debt	0	1	796,000	811,000	811,000
Accounts payable	181	174	120	128	181
Accrued wages and other employee costs	58	60	56	62	50
Current portion of operating lease liabilities	9	8	8	5	6
Other current liabilities	166	155	132	153	145
Total current liabilities	413	398	317	348	382
Pension liabilities	212,000	3	3	4	6
Postretirement benefits other than pensions	8	8	9	9	12
Environmental reserves	16	15	15	16	18
Deferred income taxes	32	26	19	16	14
Noncurrent operating lease liabilities	19	25	27	17	17
Other noncurrent liabilities	9	12	10	16	22
Total liabilities	497	486	401	428	472
Preferred stock - $1.00 par value; shares authorized 5,000,000; none outstanding	0	0	0	0	0
Common stock - $.01 par value; shares authorized 250,000,000; issued 160,366,008; outstanding 111,179,750 in 2025 and 113,751,127 in 2024	2	2	2	802,000	802,000
Additional paid-in capital	345	331	312	297	286
Retained earnings	3,762	3,108	2,594	2,060	1,458
Accumulated other comprehensive loss	−51	−80	−47	−64	−53
Treasury common stock, at cost	−847	−587	−523	−503	−470
Total Mueller Industries, Inc. stockholders' equity	3,210	2,773	2,337	1,791	1,222
Noncontrolling interests	26	31	21	23	35
Total equity	3,236	2,804	2,359	1,814	1,257
Commitments and contingencies	0	0	0	0	0
Total Liabilities and Equity	3,733	3,291	2,759	2,242	1,729

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	48	39	35	38	39
Amortization of intangibles	21	14	5	6	6
Amortization of debt issuance costs	0	243,000	870,000	357,000	265,000
Dividends from unconsolidated affiliates	7	5	0	0	—
Insurance proceeds - noncapital related	15	19	10	2	0
Gain on sale of securities	−17	−365,000	−17	0	0
Stock-based compensation expense	27	27	23	18	10
Provision for doubtful accounts receivable	143,000	1	−84,000	323,000	1
Gain on disposals of assets, net	−26	−6	−1,000	−6	−769,000
Unrealized gains on short-term investments	−2	−549,000	−25	0	0
Deferred income tax expense (benefit)	7	−867,000	5	−4	7
Change in fair value of contingent consideration	−5	0	0	—	—
Receivables	−19	−57	31	83	−125
Inventories	−40	−33	68	−24	−120
Other assets	−16	−1	−21	−9	919,000
Current liabilities	35	24	−41	−27	74
Other liabilities	−5	−1	−3	−8	−5
Other, net	−1	2	3	2	−3
Net cash provided by operating activities	755	646	673	724	312
Proceeds from sale of assets, net of cash transferred	39	12	279,000	8	2
Purchase of short-term investments	−71	−21	−106	−218	—
Purchase of long-term investments	−781,000	−7	0	0	—
Acquisition of businesses, net of cash acquired	0	−603	0	0	−30
Capital expenditures	−69	−80	−54	−38	−32
Payment received for (issuance of) notes receivable with unconsolidated affiliates	1	−4	0	—	—
Insurance proceeds - capital related	5	6	25	3	0
Proceeds from the sale of securities	88	98	55	0	0
Proceeds from the maturity of short-term investments	0	0	218	0	0
Dividends from unconsolidated affiliates	0	0	1	2	0
Investment received from noncontrolling interests	600,000	0	0	—	—
Investments in unconsolidated affiliates	−18	−9	−4	—	—
Net cash (used in) provided by investing activities	−25	−607	135	−242	29
Dividends paid to stockholders of Mueller Industries, Inc.	−109	−89	−67	−56	−29
Dividends paid to noncontrolling interests	−12	0	−9	−7	−10
Repayments of long-term debt	−185,000	−222,000	−241,000	−204,000	−921
Issuance (repayment) of debt by consolidated joint ventures, net	0	397,000	−30,000	—	—
Repurchase of common stock	−244	−49	−19	−38	−5
Net cash used to settle stock-based awards	−30	−23	−9	−1	85,000
Net cash used in financing activities	−395	−160	−105	−103	−377
Effect of exchange rate changes on cash	10	−14	6	−4	−1
Increase (decrease) in cash, cash equivalents, and restricted cash	346	−135	709	375	−37

Filings

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