Mueller Water Products (NYSE: MWA) is expected to report Q3 earnings on July 30. 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's revenues will grow 8.8% and EPS will increase 60.0%.

The average estimate for revenue is $300.2 million. On the bottom line, the average EPS estimate is $0.08.

Revenue details
 Last quarter, Mueller Water Products reported revenue of $283.1 million. 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 details
 Last quarter, non-GAAP EPS came in at $0.05. GAAP EPS were $0.04 for Q2 versus -$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.

Recent performance
 For the preceding 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.

Looking ahead

The full year's average estimate for revenue is $1.13 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 $6.43.

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