Paul Mueller Company Announces Its Second Quarter Earnings of 2025

Financial Performance - For the three months ended June 30, 2025, net sales increased to $72.624 million from $65.670 million in 2024, representing a growth of 8.9% [3] - Gross profit for the same period rose to $27.864 million, up from $19.799 million, marking a significant increase of 40.7% [3] - Net income for the second quarter of 2025 was $11.629 million, compared to $6.804 million in 2024, reflecting a year-over-year increase of 71.5% [3][24] Six-Month Performance - For the six months ended June 30, 2025, net sales reached $131.484 million, up from $116.026 million in 2024, an increase of 13.3% [3] - Gross profit for the first half of 2025 was $45.686 million, compared to $35.595 million in the same period of 2024, indicating a growth of 28.4% [3] - Net income for the six months ended June 30, 2025, was $16.557 million, up from $11.253 million in 2024, a rise of 47.4% [3][24] Twelve-Month Performance - For the twelve months ended June 30, 2025, net sales totaled $264.043 million, compared to $228.900 million in 2024, representing a growth of 15.4% [3] - Gross profit for the trailing twelve months was $92.552 million, up from $70.777 million, reflecting an increase of 30.8% [3] - Net income for the twelve months ended June 30, 2025, was $34.976 million, compared to a loss of $7.117 million in 2024, showing a substantial turnaround [3][27] Backlog and Market Segments - As of June 30, 2025, the backlog was $234.2 million, up from $187.3 million a year earlier, with a significant portion attributed to the Industrial Equipment segment [28] - The U.S. backlog increased to $223.6 million from $181.2 million, primarily driven by pharmaceutical customers [28] - European operations also saw an increase in backlog, rising to $11.3 million from $6.5 million year-over-year [28] Adjusted Earnings - Non-GAAP adjusted earnings before tax (EBT) for the three months ended June 30, 2025, increased by $6.9 million compared to the prior year [29] - For the six months, adjusted EBT rose by $10.3 million, and for the trailing twelve months, it increased by $20.1 million, primarily due to strong results in the Industrial Equipment segment [29] Cash Flow and Financial Position - Net cash provided by operating activities for the six months ended June 30, 2025, was $25.805 million, significantly higher than $7.408 million in 2024 [13] - Total assets as of June 30, 2025, were $195.304 million, compared to $158.674 million at the end of 2024, indicating growth in the company's financial position [6] - Cash and cash equivalents at the end of the quarter were $21.678 million, up from $21.169 million at the beginning of the year [14]