Record First Quarter Results
Mueller Water Products achieved record first quarter results for adjusted EBITDA and adjusted net income per diluted share. Adjusted net income per diluted share was $0.25, an increase of 92% compared to the prior year.
Strong Net Sales Growth
Net sales increased 18.7% to $304.3 million compared with the prior year, driven by higher volumes and pricing across most product lines.
Improved Gross and Adjusted EBITDA Margins
The company achieved a 340 basis points year-over-year improvement in adjusted EBITDA margin and a 120 basis point improvement in gross margin, excluding write-downs.
Successful Operational Transition
The company ceased operations at its legacy brass foundry, transitioning production to a state-of-the-art foundry, expected to generate an 80 to 100 basis point annualized improvement in gross margin starting in the second half of 2025.
Increased 2025 Guidance
Mueller Water Products raised its guidance for 2025 net sales and adjusted EBITDA, reflecting strong first quarter performance and benefits from recent price actions.