Mueller Industries third-quarter profit rises to $221.2 million from $208.1 million year earlier

Mueller Industries, Inc. (MLI) reported third-quarter 2026 net income of $221.2 million, up from $208.1 million a year earlier, the company said Tuesday in a press release attached to a filing with the Securities and Exchange Commission.

The quarter ended Sept. 26. Net sales rose to $1.42 billion from $1.08 billion a year earlier.

Here's how the company did:

• Net sales: $1.42 billion vs. $1.08 billion a year earlier
• Net income: $221.2 million vs. $208.1 million
• Operating income: $281.6 million vs. $276.1 million
• Diluted earnings per share: $1.00 vs. 94 cents
• Dividends per share: 17.5 cents vs. 12.5 cents

Diluted earnings per share were $1.00, against 94 cents a year earlier. Both figures are adjusted for a two-for-one stock split that took effect June 30, 2026.

Dividends per share rose to 17.5 cents from 12.5 cents, also adjusted for the split.

Net sales grew because of unit volume gains across most of the company's businesses. Price adjustments tied to the rise in material costs also contributed, the company said.

COMEX copper averaged $6.48 per pound during the quarter, a 34.2% increase over the prior-year period.

Operating income rose to $281.6 million from $276.1 million. The results include $9.4 million in charges related to purchase accounting, the process of assigning values to assets from recent acquisitions.

Cash generated from operations was $337.0 million in the quarter. That raised cash and short-term investments at quarter end to $1.48 billion.

During the quarter, the company bought 3.2 million shares of its common stock for $201.9 million. Year to date, it has purchased 4.5 million shares.

Here's how the company's segments did during the quarter:

• Piping Systems net sales: $890.6 million vs. $718.4 million; operating income $225.3 million vs. $216.2 million
• Industrial Metals net sales: $409.4 million vs. $248.9 million; operating income $33.7 million vs. $30.9 million
• Climate net sales: $142.8 million vs. $126.7 million; operating income $46.3 million vs. $38.9 million

Piping Systems net sales rose to $890.6 million from $718.4 million, and its operating income was $225.3 million, up from $216.2 million.

Industrial Metals net sales were $409.4 million, against $248.9 million, while operating income reached $33.7 million from $30.9 million.

Climate net sales rose to $142.8 million from $126.7 million, and operating income rose to $46.3 million from $38.9 million. Unallocated expenses were $23.7 million, compared with $9.9 million a year earlier.

CEO Greg Christopher said the company has posted year-over-year earnings growth for a run of quarters. “For the ninth consecutive quarter, we delivered year over year earnings growth driven by stronger performance across all three of our business segments,” CEO Greg Christopher said.

“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.”

On the outlook, Christopher said: “As we approach the finish line for 2026 and look ahead, we remain optimistic as we execute on our key strategic priorities.”

The company said those priorities include investments in North American manufacturing to reduce costs and reshore production, along with broader product offerings and wider distribution.

The release did not include new financial guidance or a numerical outlook for coming periods.

Over the nine months ended Sept. 26, net sales were $4.04 billion, up from $3.22 billion, and net income attributable to the company was $709.9 million, against $611.5 million.

Diluted earnings per share for the nine months were $3.21, against $2.74 a year earlier. The period also included a $41.4 million gain on the sale of a business.

Investing cash flows over the nine months included $135.8 million for acquisitions, net of cash acquired, and $57.0 million in proceeds from a business sale. Capital expenditures were $60.8 million.

The filing did not disclose headcount changes or a breakdown of one-off costs beyond the purchase accounting charges.