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Mueller Water Products, Inc. has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing net sales of $304.3 million, an increase from $256.4 million in the same quarter the previous year. This increase is attributed to higher volumes and pricing across product lines.
Gross profit for the quarter was $103.0 million, compared to $86.3 million in the previous year. The increase is primarily due to higher volumes and favorable price/cost dynamics.
Operating expenses for the quarter were $55.6 million, down from $63.5 million in the previous year. This decrease is mainly due to lower amortization and favorable foreign exchange impacts.
Net income for the quarter was $35.3 million, up from $14.3 million in the previous year. The increase is attributed to higher operating income and lower interest expenses.
Cash provided by operating activities was $54.1 million, while cash used in investing and financing activities was $11.9 million and $13.1 million, respectively.
Mueller Water Products had cash and cash equivalents of $338.2 million as of December 31, 2024. The company anticipates that its existing cash, cash equivalents, and borrowing capacity will be sufficient to meet its operating needs for the next twelve months.
The company reported a dividend of $0.067 per share, payable on February 21, 2025, to stockholders of record on February 10, 2025.
Mueller Water Products continues to focus on its Water Flow Solutions and Water Management Solutions segments, with the former representing 57% of fiscal 2024 net sales and the latter 43%.
The filing also details various financial agreements, including the ABL Agreement and 4.0% Senior Notes, and discusses the impact of recent geopolitical events and cybersecurity incidents on the company's operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MUELLER WATER PRODUCTS quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.