Mueller Industries Earnings: Here’s Why the Stock is Up Now

Mueller Industries Inc. (NYSE:MLI) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.33%.

Mueller Industries Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 91.49% to $0.90 in the quarter versus EPS of $0.47 in the year-earlier quarter.

Revenue: Decreased 1.99% to $582.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Mueller Industries Inc. reported adjusted EPS income of $0.90 per share. By that measure, the company missed the mean analyst estimate of $0.95. It beat the average revenue estimate of $0.

Quoting Management: Greg Christopher, CEO said, “The residential construction market continues to gain momentum, although its progress on a month-to-month basis remains bumpy. Housing starts totaled 780,000 units in 2012, and are projected to increase by 20 percent in 2013 and by still another 20 percent in 2014. Despite these gains, many housing market metrics have a long way to go before reaching their pre-recession peaks.”

Key Stats (on next page)…

Revenue increased 4.04% from $559.69 million in the previous quarter. EPS increased 4.65% from $0.86 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.91 and has not changed. For the current year, the average estimate has moved up from a profit of $3.60 to a profit of $3.68 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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