Mueller Industries Q2 sales rise to $1.43 billion

• Mueller Industries reported Q2 net sales of $1.43 billion, up 25.5% from $1.14 billion.
• Net income increased to $249.7 million, while diluted earnings rose to $1.13 per share.
• Management said acquisitions, stronger backlogs and its 2030 strategy should support continued business strength.

Mueller Industries (NYSE:MLI) reported Q2 net sales of $1.43 billion, up 25.5%, while net income reached $249.7 million.

Operating income rose 1.9% to $310 million, or 15.7% after excluding last year’s insurance gain.

Mueller spent $138.3 million acquiring Bison Metals and ended the quarter with $1.42 billion in cash and short-term investments.

Following the announcement, Mueller Industries' share price was down 0.3% at $58.97 in premarket trading.

Piping Systems sales reached $946.6 million, Industrial Metals generated $355 million and Climate produced $145.0 million.

Mueller also completed the Chicago Extruded Metals acquisition and implemented a two-for-one stock split on June 30.