Mueller Industries, Inc. announced its financial results for the third quarter of 2024, reporting a significant increase in net sales and profitability compared to the prior year. Consolidated net sales rose to $997.831 million, an increase from $819.792 million in the third quarter of 2023. This growth reflects the company's performance in its diverse markets.
Net income attributable to Mueller Industries, Inc. climbed to $168.699 million, up from $132.709 million in the same period last year. Diluted earnings per share reached $1.48, an increase from $1.17 in the third quarter of 2023. The company also declared a quarterly dividend of $0.20 per share, up from $0.15 per share in the prior year.
CEO Greg Christopher stated that the company delivered "very good results" and generated "significant cash" despite restrained business conditions. He also noted substantial progress in integrating two recently acquired businesses, which both contributed positively to the results. The Piping Systems segment saw sales increase to $653.884 million and operating income rise to $163.601 million.
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