Mueller Industries(MLI) - 2025 Q3 - Quarterly Results

Financial Performance - Net income for Q3 2025 was $208.1 million, up from $168.7 million in Q3 2024, representing a 23.4% increase[6] - Operating income increased to $276.1 million from $206.7 million, a rise of 33.5% year-over-year[6] - Net sales reached $1.08 billion, compared to $997.8 million in the same quarter last year, marking an 8.2% increase[6] - Diluted EPS rose to $1.88, up from $1.48, reflecting a 27.0% increase[6] - Consolidated net income for the nine months ended September 27, 2025, was $618,018, an increase of 29.6% compared to $476,939 for the same period in 2024[18] - Net cash provided by operating activities increased to $614,233, up from $505,787, reflecting a growth of 21.5% year-over-year[18] Tax and Expenses - The effective income tax rate increased to 26% from 23% in the prior year, with an expected annualized rate of 25% for fiscal year 2025[6] - Depreciation and amortization expenses rose to $51,635, compared to $31,140 in the previous year, reflecting a 65.7% increase[18] Cash Flow and Liquidity - Cash generated from operations was $310.1 million, with a cash balance of $1.3 billion and no debt[6] - Cash, cash equivalents, and restricted cash at the end of the period reached $1,262,886, up from $965,605, indicating a growth of 30.9%[20] - Cash flows from investing activities showed a net cash used of $32,787, significantly improved from $571,250 in the previous year[18] - The effect of exchange rate changes on cash resulted in an increase of $9,836, contrasting with a decrease of $4,709 in the previous year[20] Dividends and Stock Repurchase - Dividends paid to stockholders increased to $81,723, compared to $66,796 in the prior year, marking a rise of 22.3%[20] - The company repurchased common stock amounting to $243,615, a substantial increase from $48,681 in the previous year[20] Segment Performance - The Piping Systems Segment reported net sales of $718.4 million, up from $653.9 million, a 9.9% increase[14] - The Industrial Metals Segment saw net sales of $248.9 million, compared to $238.0 million, a 4.0% increase[14] - The Climate Segment's net sales were $126.7 million, slightly down from $128.5 million, a decrease of 1.4%[14] Strategic Initiatives - Mueller Industries plans to enhance domestic manufacturing capabilities in response to market demand for locally produced products[7] Financial Management - Current liabilities increased significantly by $95,493, from $25,303 to $120,796, indicating a strategic shift in financial management[18] - The company reported a gain on disposals of properties amounting to $26,654, compared to a loss of $3,953 in the previous year[18]