Mueller Industries, Inc. reported fiscal 2025 fourth‑quarter and full‑year results that included a $962.4 million revenue increase to 10.5% YoY and a $765.2 million net income, translating to diluted earnings per share of $1.38 for the quarter and $6.86 for the year. The company beat revenue expectations by $20.4 million, but missed consensus earnings estimates by $0.29 per share, falling short of the $1.67 forecasted EPS.
Revenue growth was driven by higher selling prices and a favorable product mix, with the Nehring Electrical Works acquisition adding $197 million in incremental sales during the first nine months of 2025. However, unit volumes in Mueller’s core copper and brass product lines declined, offsetting some of the price‑based upside and contributing to the earnings miss.
Operating income rose to $172.0 million in the quarter and $958.5 million for the year, reflecting margin expansion across the company’s three business segments. The expansion was partially eroded by an $18.2 million unrealized loss on open hedge contracts triggered by a 22% rise in COMEX copper prices, which increased raw‑material costs and compressed gross margin.
Segment‑level details show that while the electrical and power infrastructure segment benefited from the Nehring acquisition, the core copper and brass segment experienced volume declines that weighed on overall profitability. The company’s balance sheet remains strong, with $1.39 billion in cash and short‑term investments and a current ratio of 5.9 to 1, positioning it to invest in growth while returning value to shareholders.
CEO Greg Christopher highlighted that the quarter capped a year of sequential improvements and that the company remains well‑positioned to continue investing in growth. He noted that market conditions worsened compared to 2024, citing tariff‑related costs and commodity price volatility as headwinds, yet expressed cautious optimism for 2026, anticipating improvements as the year progresses.
Market reaction was negative, with the stock falling nearly 9% in pre‑market trading. The decline was driven by the EPS miss, concerns over declining unit volumes in core product lines, and the impact of commodity‑price‑related margin compression, which outweighed the revenue beat and record annual performance.
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