Mueller Water Products Earnings: Here’s Why Investors are Buying Shares Now
Mueller Water Products, Inc. (NYSE:MWA) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.57%.
Mueller Water Products, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.04 in the quarter versus EPS of $-0.01 in the year-earlier quarter.
Revenue: Rose 12.56% to $283.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mueller Water Products, Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company beat the mean analyst estimate of $0.02. It beat the average revenue estimate of $270.81 million.
Quoting Management: “We are pleased with our strong second-quarter results, having achieved net sales growth of 12.6 percent while our adjusted operating income more than doubled from a year ago. This quarter was our best overall second quarter performance since 2008,” said Gregory E. Hyland, president, chairman and chief executive officer of Mueller Water Products.
Key Stats (on next page)…