Mueller Industries Posts $239M Net Income on 19% Revenue Jump in Q1 FY2026
Mueller Industries, a manufacturer of copper and brass products, reported net income of $239 million for the quarter ending March 28, 2026, up 52% from $157.4 million a year earlier. Revenue climbed 19% to $1.19 billion.
Mueller Industries Inc. (NYSE: MLI), a manufacturer of copper, brass, and aluminum products, reported net income of $239 million for the quarter ending March 28, 2026, up 52% from $157.4 million in the same quarter a year earlier. Diluted earnings per share rose to $2.16 from $1.39. Read more earnings reports.
Revenue for the quarter climbed 19% to $1.19 billion from $1.00 billion in the prior-year period. Operating income jumped 51% to $312.2 million from $206.3 million.
The company's cost structure improved significantly. Selling, general, and administrative expenses rose modestly to $66.8 million from $63.1 million, while the tax provision increased to $79.6 million from $51.5 million.
Balance Sheet Strengthens
Total assets rose to $3.94 billion as of March 28, 2026, up from $3.73 billion at the end of the prior quarter and $3.23 billion a year earlier. Cash and cash equivalents stood at $1.38 billion, essentially flat from $1.37 billion at year-end 2025.
Accounts receivable surged to $670.5 million from $475.6 million at the end of the prior quarter, reflecting higher sales activity. Inventory increased to $545.5 million from $510.5 million.
Total liabilities grew to $581.5 million from $497.1 million at the end of December 2025, driven primarily by a rise in accounts payable to $243.5 million from $180.6 million. Stockholders' equity climbed to $3.33 billion from $3.21 billion.
Cash Flow and Capital Allocation
Cash from operations totaled $79.7 million for the quarter, down from $113.6 million in the prior-year quarter. Cash from investing activities was a positive $38.9 million, a sharp reversal from a use of $23.4 million a year earlier.
Cash used in financing activities totaled $115.2 million, down from $287.7 million in the prior-year period. Dividend payments increased to $38.7 million from $27.6 million.
The company's share count declined to 110.6 million shares outstanding from 111.2 million at the end of December 2025, reflecting ongoing buyback activity.
Key Financial Metrics
| Metric | Q1 FY2026 | Q1 FY2025 | Change |
|---|---|---|---|
| Revenue | $1.19 billion | $1.00 billion | +19% |
| Operating Income | $312.2 million | $206.3 million | +51% |
| Net Income | $239.0 million | $157.4 million | +52% |
| Diluted EPS | $2.16 | $1.39 | +55% |
| Cash & Equivalents | $1.38 billion | — | — |
Mueller Industries is classified as a large accelerated filer and is incorporated in Delaware. The company had 110.6 million shares outstanding as of the end of the quarter.