Mueller Industries, Inc. announced its financial results for the fourth quarter and full year ended December 28, 2024, demonstrating robust performance across key metrics. For the full year 2024, net sales reached $3,768.766 million, an increase from $3,420.345 million in fiscal year 2023. Net income for the fourth quarter was $137.7 million.
Full year 2024 diluted earnings per share stood at $5.31, up from $5.30 in fiscal year 2023. The company's operating income for the year was $770.389 million, an increase from $756.053 million in the prior year. Mueller Industries generated $645.908 million in cash from operations and reported $565.705 million in free cash flow for 2024.
The company maintained a strong financial position, ending 2024 with over $1.0 billion in cash, net of debt, and total debt of only $1.094 million. The ratio of current assets to current liabilities was 5.1 to 1. Mueller Industries also deployed over $600 million in cash on acquisitions during the year, including Nehring Electrical Works and Elkhart Products Corporation, which are expected to drive long-term growth.
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