Mueller Industries Q1 net income falls to $138.4 million from $173.2 million
Mueller Industries reported first quarter 2024 net income of $138.4 million, down from $173.2 million a year earlier, and net sales of $849.7 million, down from $971.2 million. The company attributed the sales decline to lower demand for products mainly used in residential building and to lower copper prices, and its diluted earnings per share fell to $1.21 from $1.54.
Key points
- Net sales were $849.7 million versus $971.2 million in the first quarter of 2023.
- Diluted EPS was $1.21 versus $1.54, adjusted for the two-for-one stock split effective October 20, 2023.
- The company recorded a $10.3 million loss on its investment in Tecumseh Products Company, largely driven by restructuring charges in its international operations.
- Cash balance was $1.36 billion at quarter end, and the company repurchased $27.9 million of common stock during the quarter.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 24, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.