Strong sales across all business segments lift results
Mueller Industries Inc. (NYSE:MLI) reported stronger-than-expected second-quarter results on Tuesday, exceeding Wall Street forecasts for both earnings and revenue as higher shipment volumes and rising material prices supported growth across its operations.
Shares gained 1.75% in pre-market trading following the announcement.
Adjusted earnings came in at $1.13 per share, surpassing the analyst consensus estimate of $1.05. Revenue increased 25% year over year to $1.43 billion, well ahead of expectations of $1.27 billion.
Higher volumes and copper prices support performance
Net income rose to $249.7 million from $245.9 million in the prior-year period.
Excluding a $36.3 million insurance gain recognised in the second quarter of 2025, operating income increased 15.7% year over year.
The company said revenue growth was driven by higher unit volumes across each of its three reporting segments, together with pricing increases reflecting higher raw material costs.
During the quarter, COMEX copper averaged $6.16 per pound, representing a 30.6% increase from the same period last year.
“We delivered consistent year over year earnings growth and executed at a high level,” said Greg Christopher, Mueller’s CEO. “Business demand continues to strengthen in our commercial, industrial and electrical markets. Backlogs are strong, and we are carrying out our 2030 strategic plan initiatives with a high sense of urgency.”
Company expands through acquisitions
Mueller completed two acquisitions during the quarter to support its long-term growth strategy.
The company acquired Bison Metals Technologies on March 30, 2026, for $138.3 million, followed by the acquisition of Chicago Extruded Metals on June 12, 2026.
Balance sheet remains strong
Cash generated from operating activities totaled $212.3 million during the quarter.
Mueller ended the period with $1.42 billion in cash and short-term investments and reported a current ratio of 4.8 to 1, providing substantial financial flexibility for future investment and acquisitions.