Mueller Industries Q3 2026营收同比+32%但利润率大幅压缩，财报盘中MLI下跌约6.3%

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 20, 2026
MUELLER INDUSTRIES INC.
(Exact name of registrant as specified in its charter)
Delaware
1-6770
25-0790410
(State or other jurisdiction
(Commission File
(IRS Employer
of incorporation)
Number)
Identification No.)
150 Schilling Boulevard
Suite 100
Collierville
Tennessee
38017
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code:
(901)
753-3200
Registrant’s Former Name or Address, if changed since last report:
N/A
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol
Name of exchange on which registered
Common Stock
MLI
NYSE
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new of revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
Item 2.02.
Results of Operations and Financial Condition.
On October 20, 2026, the Registrant issued a press release announcing earnings for the quarter ended September 26, 2026. A copy of the press release announcing the third quarter 2026 earnings is attached as Exhibit 99.1.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
99.1
Press release, dated
October 20, 2026
reporting third quarter 2026 earnings.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
MUELLER INDUSTRIES, INC.
By:
/
s/
ANTHONY J. STEINRIEDE
Name:
Anthony J. Steinriede
Title:
Vice President - Corporate Controller
October 20, 2026
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EX-99.1
2
exhibit991q32026earningsre.htm
EX-99.1
Document
Mueller Industries, Inc. Reports Third Quarter 2026 Earnings
COLLIERVILLE, Tenn., October 20, 2026 -- Mueller Industries, Inc. (NYSE: MLI) announces results for the third quarter of 2026. Comparisons are to the third quarter of 2025.
•
Net Sales increased to $1.42 billion versus $1.08 billion.
•
Net Income increased to $221.2 million versus $208.1 million.
•
Operating Income increased to $281.6 million versus $276.1 million.
•
Diluted EPS* increased to $1.00 versus $0.94.
•
Dividends per share* increased to $.175 versus $.125.
* Diluted EPS and dividends per share have been adjusted to reflect the two-for-one stock split that took effect on 6/30/2026.
Third Quarter Financial and Operating Highlights:
•
COMEX copper averaged $6.48 per pound during the quarter, a 34.2 percent increase over the prior year period.
•
Unit volume growth across most of our businesses, combined with price adjustments related to the rise in material costs, contributed to the increase in net sales.
•
The results include $9.4 million in charges related to purchase accounting for recent acquisitions.
•
Net cash generated from operations was $337.0 million, raising our cash and short-term investments at quarter end to $1.48 billion.
•
During the quarter, we purchased 3.2 million shares of our common stock for a total of $201.9 million. Year-to-date, we have purchased 4.5 million shares.
•
Our current ratio remains strong at 4.4 to 1.
Regarding the results, Greg Christopher, Mueller’s CEO said, “For the ninth consecutive quarter, we delivered year over year earnings growth driven by stronger performance across all three of our business segments. Throughout the quarter, demand remained healthy and backlogs grew in each segment, largely propelled by U.S. data center expansions and other commercial building activities. These results are particularly noteworthy given the protracted decline in the residential construction market. Our team has done an excellent job adjusting to shifts in demand and mix, as well as managing price relative to cost escalation.”
Regarding the outlook, he added “As we approach the finish line for 2026 and look ahead, we remain optimistic as we execute on our key strategic priorities. These include investments in our North American manufacturing operations to reduce costs and reshore production to support shifting demand, along with initiatives to increase our product offerings and expand distribution capabilities across multiple business
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segments. These actions will keep us well-positioned to capitalize on opportunities when residential building construction recovers in the U.S. and global economic conditions improve.”
Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; electrical transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East.
*********************
Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.
CONTACT
Jeffrey A. Martin
(901) 753-3226
2
MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
For the Quarter Ended
For the Nine Months Ended
(In thousands, except per share data)
September 26, 2026
September 27, 2025
September 26, 2026
September 27, 2025
Net sales
$
1,418,598
$
1,077,824
$
4,039,526
$
3,216,162
Cost of goods sold
1,057,156
738,148
2,924,294
2,251,527
Depreciation and amortization
21,173
16,607
55,160
51,635
Selling, general, and administrative expense
63,048
61,657
197,683
192,238
(Gain) loss on disposal of assets, net
—
(11,852)
1,720
(26,654)
Gain on sale of business
—
—
(41,407)
—
Asset impairments
—
2,018
2,653
2,018
Gain on insurance proceeds
(4,352)
(4,869)
(4,352)
(41,147)
Operating income
281,573
276,115
903,775
786,545
Interest expense
(136)
(6)
(270)
(48)
Interest income
12,002
10,822
34,850
28,945
Unrealized gains (losses) on short-term investments
5,859
(2,277)
10,367
5,925
Pension plan termination expense
—
(4,830)
—
(4,830)
Other (expense) income, net
(62)
627
(2,421)
(423)
Income before income taxes
299,236
280,451
946,301
816,114
Income tax expense
(76,607)
(73,904)
(239,031)
(204,236)
Income from unconsolidated affiliates, net of foreign tax
1,688
3,701
8,723
6,140
Consolidated net income
224,317
210,248
715,993
618,018
Net income attributable to noncontrolling interests
(3,117)
(2,125)
(6,120)
(6,539)
Net income attributable to Mueller Industries, Inc.
$
221,200
$
208,123
$
709,873
$
611,479
Weighted average shares for basic earnings per share
(1)
216,988
218,228
217,530
219,066
Effect of dilutive stock-based awards
(1)
3,129
3,632
3,513
4,230
Adjusted weighted average shares for diluted earnings per share
(1)
220,117
221,860
221,043
223,296
Basic earnings per share
(1)
$
1.02
$
0.95
$
3.26
$
2.79
Diluted earnings per share
(1)
$
1.00
$
0.94
$
3.21
$
2.74
Dividends per share
(1)
$
0.175
$
0.125
$
0.525
$
0.375
(1)
Adjusted retroactively to reflect the two-for-one stock split that occurred on June 30, 2026.
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MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME, CONTINUED
(Unaudited)
For the Quarter Ended
For the Nine Months Ended
(In thousands)
September 26, 2026
September 27, 2025
September 26, 2026
September 27, 2025
Summary Segment Data:
Net sales:
Piping Systems Segment
$
890,610
$
718,404
$
2,597,713
$
2,101,562
Industrial Metals Segment
409,377
248,939
1,085,652
771,450
Climate Segment
142,827
126,665
411,544
387,287
Elimination of intersegment sales
(24,216)
(16,184)
(55,383)
(44,137)
Net sales
$
1,418,598
$
1,077,824
$
4,039,526
$
3,216,162
Operating income:
Piping Systems Segment
$
225,260
$
216,159
$
690,616
$
624,619
Industrial Metals Segment
33,713
30,928
120,771
91,622
Climate Segment
46,270
38,900
122,232
117,152
Unallocated expenses
(23,670)
(9,872)
(29,844)
(46,848)
Operating income
$
281,573
$
276,115
$
903,775
$
786,545
4
MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
September 26,
2026
December 27, 2025
ASSETS
Cash and cash equivalents
$
1,447,799
$
1,367,003
Short-term investments
33,100
22,733
Accounts receivable, net
723,993
475,566
Inventories
621,390
510,463
Other current assets
53,215
69,980
Total current assets
2,879,497
2,445,745
Property, plant, and equipment, net
602,787
536,466
Operating lease right-of-use assets
21,066
27,211
Other assets
794,244
723,607
Total assets
$
4,297,594
$
3,733,029
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable
$
297,923
$
180,577
Current portion of operating lease liabilities
8,181
8,520
Other current liabilities
349,488
224,037
Total current liabilities
655,592
413,134
Long-term debt
5,243
—
Pension and postretirement liabilities
8,748
8,393
Environmental reserves
15,758
15,684
Deferred income taxes
46,345
31,640
Noncurrent operating lease liabilities
13,097
18,970
Other noncurrent liabilities
10,493
9,302
Total liabilities
755,276
497,123
Total Mueller Industries, Inc. stockholders’ equity
3,511,451
3,209,966
Noncontrolling interests
30,867
25,940
Total equity
3,542,318
3,235,906
Total liabilities and equity
$
4,297,594
$
3,733,029
5
MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For the Nine Months Ended
(In thousands)
September 26, 2026
September 27, 2025
Cash flows from operating activities
Consolidated net income
$
715,993
$
618,018
Reconciliation of consolidated net income to net cash provided by operating activities:
Depreciation and amortization
55,160
51,635
Stock-based compensation expense
23,307
20,328
Provision for credit losses
802
67
Income from unconsolidated affiliates
(8,723)
(6,140)
Dividends from unconsolidated affiliates
5,701
5,440
Insurance proceeds - noncapital related
—
15,469
Loss (gain) on disposals of assets, net
1,720
(26,654)
Gain on sale of business
(41,407)
—
Unrealized gains on short-term investments
(10,367)
(5,925)
Impairment charges
2,653
2,018
Gain on insurance proceeds
(4,352)
(41,147)
Deferred income tax expense
17,282
10,627
Changes in assets and liabilities, net of effects of businesses acquired and sold:
Receivables
(253,596)
(100,830)
Inventories
(95,916)
(40,669)
Other assets
3,466
(8,756)
Current liabilities
219,818
120,796
Other liabilities
1,376
286
Other, net
(3,952)
(330)
Net cash provided by operating activities
$
628,965
$
614,233
Cash flows from investing activities
Capital expenditures
$
(60,764)
$
(48,982)
Acquisition of business, net of cash acquired
(135,752)
—
Proceeds from sale of business, net of cash sold
57,004
—
Insurance proceeds - capital related
4,352
4,531
Purchase of short-term investments
—
(26,633)
Purchase of long-term investments
(5,834)
(781)
Proceeds from sales of assets
62
38,478
Other
—
600
Net cash used in investing activities
$
(140,932)
$
(32,787)
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MUELLER INDUSTRIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
For the Nine Months Ended
(In thousands)
September 26, 2026
September 27, 2025
Cash flows from financing activities
Dividends paid to stockholders of Mueller Industries, Inc.
$
(113,869)
$
(81,723)
Repurchase of common stock
(278,297)
(243,615)
Repayments of debt
—
(185)
Net cash used to settle stock-based awards
(24,882)
(29,528)
Dividends paid to noncontrolling interests
(5,051)
(12,240)
Other
3,100
—
Net cash used in financing activities
$
(418,999)
$
(367,291)
Effect of exchange rate changes on cash
(4,214)
9,836
Increase in cash, cash equivalents, and restricted cash
64,820
223,991
Cash, cash equivalents, and restricted cash at the beginning of the period
1,385,157
1,038,895
Cash, cash equivalents, and restricted cash at the end of the period
$
1,449,977
$
1,262,886
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