Mueller Water Products (NYSE: MWA) is expected to report Q3 earnings on July 31. Here's what Wall Street wants to see:

The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Mueller Water Products' revenue will drop 25.3%.

The average estimate for revenue is $274.1 million. On the bottom line, the average EPS estimate is $0.05.

Revenue details
Last quarter, Mueller Water Products chalked up revenue of $251.5 million. GAAP reported sales were 6.8% higher than the prior-year quarter's $235.5 million.

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

EPS details
Last quarter, non-GAAP EPS came in at -$0.01. GAAP EPS were -$0.70 for Q2 compared to -$0.09 per share for the prior-year quarter.

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

Recent performance
For the preceding quarter, gross margin was 24.7%, about the same as the prior-year quarter. Operating margin was 4.6%, about the same as the prior-year quarter. Net margin was -43.7%, 3,790 basis points worse than the prior-year quarter.

Looking ahead
The full year's average estimate for revenue is $1.07 billion. The average EPS estimate is $0.04.

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 $3.46.

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