Mueller Water Products was another water infrastructure company that reported excellent results recently.Shares in Mueller Water Products (MWA -0.86%) rose 18.1% in the week as of Friday morning. The move comes after an excellent set of first-quarter 2024 earnings released at the start of the week.Mueller generates 60%-65% of its sales from the municipal water infrastructure market, with 25%-30% from residential construction and 10% from natural gas utilities and industrial applications.Sales are split roug ...

ATLANTA, May 07, 2024 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE: MWA) today announced that its management team will participate in the following upcoming investor conferences in May: Oppenheimer 19th Annual Industrial Growth Conference (virtual) on May 8, 2024, with management hosting meetings. Mueller Water Products is scheduled to present at 8:15 a.m. ET. TD Cowen 2nd Annual Sustainability Week (virtual) on May 23, 2024, with management hosting investor meetings. The presentation on May 8, 20 ...

ATLANTA, May 07, 2024 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE: MWA) today announced that its management team will participate in the following upcoming investor conferences in May: Oppenheimer 19th Annual Industrial Growth Conference (virtual) on May 8, 2024, with management hosting meetings. Mueller Water Products is scheduled to present at 8:15 a.m. ET.TD Cowen 2nd Annual Sustainability Week (virtual) on May 23, 2024, with management hosting investor meetings. The presentation on May 8, 202 ...

Mueller Water Products, Inc. (NYSE:MWA) Q2 2024 Earnings Conference Call May 7, 2024 10:00 AM ET Company Participants Whit Kincaid - Senior Director, Investor Relations and Corporate Development Marietta Zakas - Chief Executive Officer Steven Heinrichs - Chief Financial Officer and Chief Legal Officer Conference Call Participants Brian Lee - Goldman Sachs Joseph Giordano - TD Cowen Bryan Blair - Oppenheimer Deane Dray - RBC Capital Markets Michael Halloran - Baird Operator Welcome, and thank you for standin ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited financials showing Q2 profitability growth despite a six-month sales decline, driven by improved margins [Condensed Consolidated Financial Statements (Balance Sheet, Operations, Cash Flow)](index=3&type=section&id=Condensed%20Consolidated%20Financial%20Statements) Financials show a slight asset increase, doubled Q2 net income, and significantly improved six-month operating cash flow Condensed Consolidated Balance Sheet Highlights (in millions) | Account | March 31, 2024 | September 30, 2023 | | :--- | :--- | :--- | | **Total current assets** | $748.6 | $706.8 | | **Total assets** | $1,539.4 | $1,505.0 | | **Total current liabilities** | $212.3 | $218.8 | | **Long-term debt** | $448.0 | $446.7 | | **Total liabilities** | $784.9 | $793.5 | | **Total stockholders' equity** | $754.5 | $711.5 | Condensed Consolidated Statements of Operations (in millions, except per share amounts) | Metric | Three Months Ended Mar 31, 2024 | Three Months Ended Mar 31, 2023 | Six Months Ended Mar 31, 2024 | Six Months Ended Mar 31, 2023 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $353.4 | $332.9 | $609.8 | $647.7 | | **Gross profit** | $130.4 | $97.8 | $216.7 | $191.0 | | **Operating income** | $63.5 | $32.9 | $86.3 | $66.9 | | **Net income** | $44.3 | $21.3 | $58.6 | $43.8 | | **Diluted EPS** | $0.28 | $0.14 | $0.37 | $0.28 | Condensed Consolidated Statements of Cash Flows (in millions) | Cash Flow Category | Six Months Ended Mar 31, 2024 | Six Months Ended Mar 31, 2023 | | :--- | :--- | :--- | | **Net cash provided by (used in) operating activities** | $62.2 | $(22.2) | | **Net cash used in investing activities** | $(15.7) | $(15.4) | | **Net cash used in financing activities** | $(31.4) | $(20.1) | | **Net change in cash and cash equivalents** | $18.9 | $(57.3) | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Disclosures detail segment performance, amended borrowing arrangements, stock compensation, and various contingencies - The company operates in two segments, Water Flow Solutions and Water Management Solutions, with business being seasonal[25](index=25&type=chunk)[27](index=27&type=chunk) - On March 28, 2024, the company amended its Asset-Based Lending (ABL) agreement, **extending the maturity date to March 2029** and decreasing interest rate margins[55](index=55&type=chunk) - Stock-based compensation expense was **$3.0 million for the three months** and **$6.4 million for the six months** ended March 31, 2024[78](index=78&type=chunk) Segment Net Revenue and Operating Income (in millions) | Segment / Period | Net Revenue (Q2'24) | Net Revenue (Q2'23) | Operating Income (Q2'24) | Operating Income (Q2'23) | | :--- | :--- | :--- | :--- | :--- | | **Water Flow Solutions** | $205.8 | $157.2 | $52.6 | $15.2 | | **Water Management Solutions** | $147.6 | $175.7 | $29.0 | $31.7 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 sales growth driven by pricing, significant margin expansion, and provides a full-year outlook [Overview](index=23&type=section&id=Overview) Management addresses operational challenges, including supply interruptions and a cybersecurity incident, and provides a fiscal 2024 outlook - The Israel-Hamas war caused a temporary shutdown and ongoing supply interruptions at the company's facility in Ariel, Israel[103](index=103&type=chunk)[104](index=104&type=chunk) - A cybersecurity incident in October 2023 caused temporary operational disruptions, incurring approximately **$1.5 million of related expenses** in Q1 2024[105](index=105&type=chunk)[106](index=106&type=chunk)[107](index=107&type=chunk) - For fiscal year 2024, the company anticipates **consolidated net sales will be flat to down two percent** compared with fiscal year 2023[108](index=108&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) A detailed analysis reveals consolidated Q2 sales growth and margin expansion, driven by the Water Flow Solutions segment Q2 2024 vs Q2 2023 Consolidated Performance (in millions) | Metric | Q2 2024 | Q2 2023 | Change (%) | | :--- | :--- | :--- | :--- | | **Net Sales** | $353.4 | $332.9 | +6.2% | | **Gross Profit** | $130.4 | $97.8 | +33.3% | | **Gross Margin** | 36.9% | 29.4% | +750 bps | Q2 2024 Segment Net Sales Performance (in millions) | Segment | Q2 2024 | Q2 2023 | Change (%) | | :--- | :--- | :--- | :--- | | **Water Flow Solutions** | $205.8 | $157.2 | +30.9% | | **Water Management Solutions** | $147.6 | $175.7 | -16.0% | Six Months 2024 vs 2023 Consolidated Performance (in millions) | Metric | H1 2024 | H1 2023 | Change (%) | | :--- | :--- | :--- | :--- | | **Net Sales** | $609.8 | $647.7 | -5.9% | | **Gross Profit** | $216.7 | $191.0 | +13.5% | | **Gross Margin** | 35.5% | 29.5% | +600 bps | [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains a solid liquidity position, details capital allocation activities, and projects capital expenditures for fiscal 2024 - As of March 31, 2024, the company had **$179.2 million in cash** and **$162.6 million of additional borrowing capacity** under its ABL[141](index=141&type=chunk) - During the six months ended March 31, 2024, the company **repurchased $10.0 million of its common stock**, with $80.0 million remaining under authorization[142](index=142&type=chunk) - Net cash provided by operating activities was **$62.2 million** for the six months ended March 31, 2024, a significant improvement from a $22.2 million use of cash in the prior year[144](index=144&type=chunk) - Capital expenditures are expected to be between **$40.0 million and $45.0 million** for fiscal year 2024[145](index=145&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective with no material changes to internal controls - The Chief Executive Officer and Chief Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of the end of the period[167](index=167&type=chunk) - There were **no changes in internal control over financial reporting** during the quarter ended March 31, 2024, that materially affected internal controls[165](index=165&type=chunk) [PART II. OTHER INFORMATION](index=35&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company refers to financial statement notes for details on legal proceedings arising from normal business operations - For details on legal proceedings, the report refers to **Note 10 of the financial statements**[171](index=171&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) The report references the 2023 Annual Report for a comprehensive discussion of risk factors, with no material changes noted - The company states that readers should consider the factors discussed in **PART I, "Item 1A. RISK FACTORS" in its 2023 Annual Report** on Form 10-K[172](index=172&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=35&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company details its Q2 share repurchase activity and the remaining authorization under its stock buyback program - As of March 31, 2024, the company had **$80.0 million remaining** under its share repurchase authorization[174](index=174&type=chunk) Share Repurchase Activity (Q2 2024) | Period | Total Shares Purchased | Average Price Paid per Share | Shares Purchased as Part of Program | Remaining Authorization (in millions) | | :--- | :--- | :--- | :--- | :--- | | **Jan 2024** | — | $— | — | $90.0 | | **Feb 2024** | 646,741 | $15.68 | 636,789 | $80.0 | | **Mar 2024** | — | $— | — | $80.0 | [Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists key exhibits filed with the report, including credit agreement amendments and executive certifications - Key exhibits filed include the **Seventh Amendment to the Credit Agreement**, CEO/CFO certifications, and financial data in XBRL format[178](index=178&type=chunk)

Appoints Marietta Edmunds Zakas as Chief Executive Officer Promotes Current Chief Operating Officer Paul McAndrew to President Welcomes Brian Healy and Christian Garcia to the Board of Directors ATLANTA, May 06, 2024 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE:MWA) ("Mueller" or the "Company") today announced that Marietta ("Martie") Edmunds Zakas has been appointed Chief Executive Officer. Ms. Zakas has served as the Company's CEO and President since August 2023 and previously served as Chief Fi ...

The market expects Mueller Water Products (MWA) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on May 6, 2024, might help the stock move higher if these key numbers ...

ATLANTA, April 24, 2024 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE:MWA) plans to release financial results for its second quarter ended March 31, 2024, after U.S. markets close on Monday, May 6, 2024. On Tuesday, May 7, 2024, at 10:00 a.m. ET, the Company will hold a conference call to discuss earnings and business results. Interested parties are invited to listen via webcast available on the Investor Relations section of the Company's website www.muellerwaterproducts.com. An archive of the webc ...

Mueller Water Products (MWA) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors ...

Key PointsThe industrial products sector is looking to make a breakout; all the fundamentals point to it being the case, with one special mention.Goldman has Mueller Water Products as a top pick in the sector, riding on more tailwinds than you imagine.The writing is on the wall for double-digit upside, and markets are okay buying the story, will you?5 stocks we like better than NVIDIAThe numbers are in, and the professional traders on Wall Street have begun to give Main Street investors like yourself a tast ...