Nov 4, 4:16 PM ET
Mueller Water Products reported record fiscal 2026 results, with full-year net sales up 3.2% to $1.5 billion and net income up to $221.9 million, while fourth-quarter net sales fell 1.1%. The company also agreed to transition its metering business to ZENNER USA, with expected one-time pre-tax charges of about $26 million, and introduced fiscal 2027 guidance that excludes metering.
- Fiscal 2026 net income was $221.9 million, or $1.41 per diluted share, versus $191.7 million, or $1.22, a year earlier.
- Fourth-quarter net sales decreased 1.1% to $376.5 million, and net income was $52.3 million, or $0.33 per diluted share, versus $0.33 a year earlier.
- The metering business will transition to ZENNER USA, with total one-time pre-tax charges of approximately $26 million, mostly in fiscal 2027.
- Fiscal 2027 guidance calls for net sales of $1,440 million to $1,470 million and adjusted EBITDA of $378 million to $388 million, excluding metering.
Read the filing on SEC.gov ↗
Oct 22, 4:28 PM ET
Mueller Water Products' board raised its quarterly dividend 14.3%, to $0.080 per share from $0.070, and authorized an additional $300 million for stock repurchases. About $334.5 million is now available under the expanded program. The moves return more capital to shareholders, and the company said it gives it flexibility to repurchase shares when it believes they are undervalued.
- Quarterly dividend of $0.080 per share, up 14.3% from $0.070, payable November 19, 2026, to holders of record on November 9, 2026
- Board added $300 million to the existing repurchase program, bringing available authorization to about $334.5 million
- Company repurchased $30.5 million of common stock in fiscal 2026, including $15.0 million in the quarter ended September 30, 2026
Read the filing on SEC.gov ↗
Oct 13, 7:04 AM ET
Mueller Water Products said Chief Financial Officer Melissa Rasmussen will step down, with the change taking effect the first business day after the company files its 10-K for the fiscal year ended September 30, 2026. Mike Morgan, currently CFO of IvyTree Holdings LLC, was appointed Executive Vice President, Finance, effective October 28, 2026, and will become Executive Vice President and CFO at the transition date. The filing states the departure is not the result of any disagreement over financial statements, internal controls, operations, policies or practices.
- Melissa Rasmussen steps down as Senior Vice President and CFO; she will serve as Senior Advisor through December 31, 2026.
- Mike Morgan, age 56, was appointed Executive Vice President, Finance, effective October 28, 2026, and will become CFO at the transition date (the press release says on or about November 19, 2026).
- Morgan's offer letter provides a $575,000 base salary, an 80% target bonus, a $1,300,000 target long-term incentive from fiscal 2027, and a $700,000 sign-on bonus.
- Rasmussen's transition agreement provides a $431,897 retention payment and a fiscal 2026 bonus based on actual performance, subject to a release of claims.
Read the filing on SEC.gov ↗
Aug 5, 4:17 PM ET
Mueller Water Products reported fiscal third-quarter 2026 results for the period ended June 30, 2026, with net sales up 4.1% to $395.9 million and net income of $67.3 million, or $0.43 per diluted share, compared with $0.33 a year earlier. The company raised its fiscal 2026 adjusted EBITDA guidance to between $367 million and $372 million, which signals higher expected profitability for shareholders.
- Net sales rose 4.1% to $395.9 million, from $380.3 million in the prior-year quarter, mainly on higher pricing
- Net income per diluted share was $0.43, up from $0.33; adjusted net income per diluted share was $0.50, up from $0.34
- Adjusted EBITDA rose 24.3% to $107.4 million; fiscal 2026 adjusted EBITDA guidance is now $367 million to $372 million
- The company repurchased $10.0 million of common stock in the quarter
Read the filing on SEC.gov ↗
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