Mueller Industries Reports 17.7% Revenue Growth to $1,000.2 Million in Q1 2025

Mueller Industries, Inc. reported a significant increase in financial performance for the first quarter of 2025, with net sales reaching $1,000.2 million, a 17.7% rise from $849.7 million in the same period last year. The company's operating income also saw a 12.5% increase, amounting to $206.3 million compared to $183.4 million in the prior year. Consolidated net income attributable to Mueller Industries rose to $157.4 million, up 13.8% from $138.4 million in the first quarter of 2024. Basic earnings per share improved to $1.42 from $1.24, while diluted earnings per share increased to $1.39 from $1.21.

The growth in revenue was primarily driven by several factors, including contributions from recent acquisitions, specifically Nehring Electrical Works, which added $103.7 million in sales, and Elkhart Products, which contributed $16.6 million. Additionally, higher net selling prices in core product lines, particularly copper tube and brass rod, accounted for an increase of $66.9 million. However, this growth was partially offset by a decrease in unit sales volume of $43.0 million in core product lines.

Operationally, Mueller Industries has made strategic moves, including the acquisition of Nehring Electrical Works for approximately $569.2 million, which is expected to enhance its position in the energy infrastructure market. The company also acquired Elkhart Products for $38.2 million, further expanding its product offerings in the Piping Systems segment. The company reported a total employee headcount of 4,500 as of March 29, 2025, reflecting its ongoing commitment to growth and expansion.

In terms of cash flow, Mueller Industries generated $113.6 million from operating activities, a decrease from $173.6 million in the previous year, primarily due to increased accounts receivable and inventory levels. The company reported a cash balance of $830.1 million at the end of the quarter, down from $1.0 billion at the end of 2024. The company also engaged in significant stock repurchases, totaling $243.6 million during the quarter, as part of its ongoing share repurchase program.

Looking ahead, Mueller Industries remains optimistic about its growth trajectory, supported by strong demand in the construction and HVAC markets. The company anticipates that cash generated from operations, along with available credit, will be sufficient to meet its liquidity needs, including capital expenditures and debt obligations. The company declared a quarterly dividend of $0.25 per share, up from $0.20 in the previous year, reflecting its commitment to returning value to shareholders while continuing to invest in growth opportunities.