- Mueller Industries (MLI, Financial) reported a net income of $157.4 million for Q1 2025, up from $138.4 million in Q1 2024.
- Net sales surged to $1.0 billion in Q1 2025, a significant increase from $849.7 million in the same period last year.
- The company repurchased over 3 million shares, spending $243.6 million in Q1 2025.
Mueller Industries, Inc. (MLI) has announced its financial results for the first quarter of 2025, showcasing strong growth across key financial metrics. The company reported a net income of $157.4 million, an increase from $138.4 million in the first quarter of 2024. The diluted earnings per share (EPS) also rose to $1.39, compared to $1.21 in the previous year.
Net sales for the quarter reached $1.0 billion, up from $849.7 million in Q1 2024. This increase was driven by contributions from newly acquired businesses and higher selling prices influenced by rising raw material costs and tariffs. Despite production challenges in the Piping Systems segment, which led to lower shipments, the overall sales growth was maintained.
The average COMEX copper price during the quarter was $4.57 per pound, an 18.4% increase from $3.86 per pound in Q1 2024. This rise in copper prices significantly impacted the company's pricing strategy and overall revenue.
Mueller Industries showcased robust operating income of $206.3 million, up from $183.4 million in the same quarter of the previous year. The results for the quarter included a $14.5 million gain from the sale of an idle property and a $5.0 million unrealized loss from short-term investments.
In terms of financial activities, the company generated $113.6 million in net cash from operations and ended the quarter with a cash balance of $830.1 million. Mueller Industries utilized $243.6 million to repurchase over 3 million shares of its common stock during the period, demonstrating continued confidence in its business prospects.
CEO Greg Christopher commented on the positive impacts of the company's recent acquisitions, Nehring Electrical Works and Elkhart Products, and reiterated the company's proactive stance on navigating tariff and trade policy challenges. Despite these external pressures, Mueller Industries remains poised for continued resilience and growth in the evolving market landscape.
