With a $7.60 billion market cap, Mueller Industries, Inc. (MLI) manufactures and sells copper, brass, aluminum, and plastic products in the U.S., the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems; Industrial Metals; and Climate.
MLI reported net sales of $997.74 million, slightly surpassing the analyst estimates of $997 million. The 11.2% year-over-year increase in net sales was primarily due to higher unit shipments in most of its businesses, increased copper prices, and the inclusion of one-month reported sales for its newly acquired Nehring business.
