Mueller Water Products (NYSE: MWA) reported earnings on July 30. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended June 30 (Q3), Mueller Water Products met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded significantly. GAAP earnings per share expanded significantly.

Margins expanded across the board.

Revenue details
 Mueller Water Products recorded revenue of $299.4 million. The 10 analysts polled by S&P Capital IQ foresaw revenue of $300.2 million on the same basis. GAAP reported sales were 8.5% higher than the prior-year quarter's $275.9 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

EPS details
 EPS came in at $0.08. The nine earnings estimates compiled by S&P Capital IQ anticipated $0.08 per share. Non-GAAP EPS of $0.08 for Q3 were 60% higher than the prior-year quarter's $0.05 per share. (The prior-year quarter included $0.02 per share in earnings from discontinued operations.) GAAP EPS of $0.09 for Q3 were 50% higher than the prior-year quarter's $0.06 per share. (The prior-year quarter included $0.02 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.

Margin details
 For the quarter, gross margin was 30.1%, 120 basis points better than the prior-year quarter. Operating margin was 11.1%, 150 basis points better than the prior-year quarter. Net margin was 4.7%, 110 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $306.2 million. On the bottom line, the average EPS estimate is $0.08.

Next year's average estimate for revenue is $1.14 billion. The average EPS estimate is $0.18.

Investor sentiment

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Mueller Water Products is outperform, with an average price target of $7.45.

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