Sales and Market Performance - Mueller Industries reported a significant increase in sales driven by new housing starts and commercial construction, which are key determinants for the HVAC, refrigeration, and plumbing markets[16]. - Net sales for 2023 were $3,420,345, a decrease of 14.1% compared to $3,982,455 in 2022[136]. - The decrease in net sales in 2023 was primarily due to lower unit sales volume of $264.8 million in core product lines and a decrease in sales of $203.0 million in non-core product lines[136]. - In 2023, net sales for the Piping Systems segment were $2,382.6 million, a decrease of 12.7% compared to $2,730.1 million in 2022[156]. - The Industrial Metals segment reported net sales of $577.9 million in 2023, a decline of 10.4% from $644.7 million in 2022[162]. - The Climate segment's net sales fell to $500.8 million in 2023, a decrease of 23.0% compared to $650.3 million in 2022[169]. Financial Performance - Operating income for 2023 was $756,053, down 13.8% from $877,149 in 2022[136]. - Net income for 2023 was $602,897, an 8.4% decrease from $658,316 in 2022[136]. - Cost of goods sold for 2023 was $2,433,511, representing 71.1% of net sales, compared to 71.9% in 2022[138]. - Gross margin as a percentage of sales increased to 28.9% in 2023 from 28.1% in 2022[138]. - Selling, general, and administrative expenses increased to $208,172 in 2023, primarily due to higher foreign currency transaction losses and legal fees[140]. - The company recognized a gain of $19.5 million from an insurance settlement related to a fire incident in 2022[141]. - Interest income increased in 2023 due to higher rates on deposits and short-term investments[144]. Operational Challenges and Risks - The total order backlog for the Industrial Metals Segment as of December 30, 2023, was not significant, indicating potential challenges in demand[29]. - The Climate segment's total order backlog as of December 30, 2023, was also not significant, reflecting similar demand concerns[34]. - Economic conditions in the housing and commercial construction industries, along with inflation and interest rate changes, could materially impact the company's financial condition and results of operations[48]. - Inflationary pressures have increased, impacting raw material costs and potentially affecting the company's ability to raise product prices[50]. - Competitive conditions, including the threat of imports and substitute products, could materially affect demand and profitability across all product lines[53]. - Strikes or work stoppages could disrupt operations and increase operating costs, adversely affecting profitability[56]. - Cybersecurity threats are on the rise, and breaches could expose the company to legal liability and adversely affect its reputation and operations[60]. Strategic Acquisitions and Investments - The company acquired Kessler Sales and Distribution on August 2, 2020, and increased its equity interest in Mueller Middle East to 55% on December 7, 2021, enhancing its Piping Systems segment[20]. - The company has made strategic acquisitions in Europe, Canada, South Korea, the Middle East, and the United States to enhance long-term growth and profitability[58]. - Capital expenditures for 2023 were $54.0 million, with an anticipated investment of $50.0 million to $60.0 million in 2024[192]. Shareholder Returns and Stock Performance - The company paid a quarterly cash dividend of $0.15 per share during fiscal year 2023, up from $0.125 per share in fiscal year 2022, reflecting a 20% increase[78]. - The company has repurchased approximately 15.0 million shares under its 40 million share repurchase authorization since its initial authorization in 1999[80]. - The company has extended the authorization to repurchase shares until July 2024, indicating ongoing commitment to returning value to shareholders[80]. - The company's stock performance showed a total return of 432.45% from 2018 to 2023, significantly outperforming the Dow Jones U.S. Total Return Index, which returned 203.70% in the same period[84]. Compliance and Regulatory Matters - The company anticipates expenditures of approximately $5.2 million for compliance activities related to existing environmental matters over the next three fiscal years[41]. - The provision for environmental matters was $0.7 million for 2023, down from $1.4 million in 2022 and $5.0 million in 2021, showing a decreasing trend in environmental expenses[41]. - Future compliance with environmental, health, and safety regulations may require significant capital expenditures, impacting competitiveness and financial results[55]. - The company is involved in various claims and regulatory proceedings that could have a material adverse effect on its financial position[54]. Workforce and Employment - As of December 30, 2023, the company employed approximately 4,509 employees, with 1,512 represented by various unions, indicating a stable workforce[35]. - The unplanned departure of key personnel could disrupt business operations and management capabilities[61]. Financial Position and Liquidity - The company's current ratio was 6.4 to 1 as of December 30, 2023, indicating strong liquidity[185]. - Total debt as of December 30, 2023, was $1.0 million, less than 1% of total capitalization[195]. - The company has no variable-rate debt outstanding as of December 30, 2023, indicating minimal interest rate exposure[203]. - Total contractual cash obligations amount to $799.3 million, with $759.4 million due in 2024 and 2025-2026[197]. Foreign Operations and Currency Exposure - Exposure to foreign currency exchange rate fluctuations could significantly impact competitiveness and reported results, particularly with currencies like the British pound and Mexican peso[52]. - The net investment in foreign subsidiaries translated into U.S. dollars was $270.8 million at December 30, 2023, down from $338.6 million at December 31, 2022[205]. - A hypothetical 10 percent adverse change in foreign currency exchange rates could result in a potential loss of $27.1 million in the company's net investment in foreign subsidiaries[205]. - The company experienced a 6 percent increase in the value of the British pound and a 14 percent increase in the Mexican peso relative to the U.S. dollar in 2023[206]. Governance and Internal Controls - The company maintained effective internal control over financial reporting as of December 30, 2023, according to an independent audit[98]. - The company has a Code of Business Conduct and Ethics applicable to its chief executive officer, chief financial officer, and other financial executives[110]. - The company plans to file its Proxy Statement for the 2024 Annual Meeting of Stockholders on or about March 22, 2024, which will include information on executive compensation and corporate governance[109][111]. - The company has a clawback policy in place[119].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly report ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 1-6770 MUELLER INDUSTRIES INC. (Exact name of registrant as specified in its charter) Delaware 25-0790410 (State or other jurisdict ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 1-6770 MUELLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 25-0790410 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 1-6770 MUELLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 25-0790410 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K For the fiscal year ended December 26, 2020 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 MUELLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) OR 150 Schilling Boulevard Suite 100 Collierville Tennessee 38017 Delaware 25-0790410 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Address of principal executive offices) ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2019 Commission file number 1-6770 MUELLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Delaware 25-0790410 | 150 Schilling Boulevard | Suite 100 | | | --- | --- | --- | | Collier ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 29, 2018 Commission file number 1–6770 MUELLER INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Delaware 25-0790410 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 150 Schilling Boulevard, Suite 100 Collierville, Tennessee 38017 (Addre ...