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COLLIERVILLE, Tenn. - Mueller Industries, Inc. (NYSE:MLI) reported fourth quarter earnings that missed estimates but revenue that beat expectations, sending shares up 2.32% in early trading on Tuesday.
The industrial manufacturer posted Q4 adjusted earnings per share of $1.21, missing the analyst consensus of $1.06. Revenue for the quarter came in at $923.5 million, surpassing the $847 million estimate and rising 26.1% year-over-year.
"We ended 2024 on a very positive note, and in terms of quarter over quarter operating income performance, the fourth quarter was our strongest of the year," said CEO Greg Christopher.
The company said the increase in net sales was primarily due to acquisitions made in the second half of 2024 and improved unit volume in U.S. construction-related products. Higher copper prices also contributed, with COMEX copper averaging $4.22 per pound during the quarter, up 13% YoY.
Mueller generated $140.1 million in operating cash flow for Q4 and $645.9 million for the full year. Year-end cash and short-term investments totaled $1.06 billion.
Looking ahead, Christopher said the company has "a number of promising initiatives underway" and remains committed to reinvesting to strengthen core operations. He expressed optimism about the potential impact of new trade and regulatory policies, though noted it will take time to materialize.
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