Investment Rating - The industry rating is "Recommended" [1] Core Insights - In Q3 2024, Mueller Industries reported a net sales increase of 21.7% year-on-year to $997.83 million, and a net profit increase of 27.1% year-on-year to $168.69 million [1] - The growth in net sales is attributed to recent acquisitions and rising copper prices, with the average copper price for the quarter at $4.23 per pound, down 7.0% quarter-on-quarter [1] - Operating income for Q3 2024 was $206.7 million, a decrease of 18.5% quarter-on-quarter but an increase of 49.2% year-on-year [4] Summary by Sections Financial Performance - Q3 2024 net sales: $997.83 million, up from $819.79 million in Q3 2023 - Q3 2024 net income attributable to Mueller Industries: $168.69 million, compared to $132.71 million in Q3 2023 - Q3 2024 basic earnings per share: $1.51, up from $1.19 in Q3 2023 [4] Market Trends - The increase in net sales is primarily driven by acquisitions and higher copper prices, indicating a positive market trend for the industry [1] - The average copper price decline may impact future sales, but the overall growth trajectory remains strong [1] Analyst Information - The report is authored by Yan Rong, who can be contacted at yanrong@hx168.com.cn [1]
有色金属海外季报：木勒工业2024Q3净销售额同比增长21.7%至9.978亿美元，净利润同比增长27.1%至1.687亿美元
HUAXI Securities·2024-10-23 10:03