Mueller’s sales expand sharply, with higher copper prices driving part of the gain
Mueller Industries ($MLI) reported quarterly revenue of $1.42 billion, compared with $1.08 billion a year earlier. Net income increased to $221.2 million from $208.1 million and operating profit reached $281.6 million, versus $276.1 million. Split-adjusted earnings per share were $1.00, up from $0.94. The average copper price rose 34.2% to $6.48 per pound, materially affecting reported sales growth. Operating cash flow was $337 million, and cash plus short-term investments totaled $1.48 billion.
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