Mueller Water Products
The 10-second takeaway
For the quarter ended March 31 (Q2), Mueller Water Products beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share expanded. GAAP earnings per share grew.
Margins increased across the board.
Mueller Water Products booked revenue of $283.1 million. The nine analysts polled by S&P Capital IQ looked for net sales of $269.5 million on the same basis. GAAP reported sales were 13% higher than the prior-year quarter's $251.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.05. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.02 per share. Non-GAAP EPS were $0.05 for Q2 compared to -$0.01 per share for the prior-year quarter. GAAP EPS were $0.04 for Q2 against -$0.70 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.3%, 260 basis points better than the prior-year quarter. Operating margin was 8.7%, 410 basis points better than the prior-year quarter. Net margin was 2.2%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $299.7 million. On the bottom line, the average EPS estimate is $0.08.
Next year's average estimate for revenue is $1.12 billion. The average EPS estimate is $0.14.
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 $6.43.
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