Mueller Water Products, Inc. (MWA) Bundle
A Brief History of Mueller Water Products
Company Overview
Mueller Water Products, Inc. is a leading manufacturer and marketer of water infrastructure and flow control products in North America. The company operates through two primary segments: Water Flow Solutions and Water Management Solutions.
Financial Performance in Fiscal Year 2024
For the fiscal year ending September 30, 2024, Mueller Water Products reported:
| Metric | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Net Sales | $1,314.7 | $1,275.7 |
| Operating Income | $181.7 | $127.4 |
| Net Income | $115.9 | $85.5 |
| Adjusted EBITDA | $284.7 | $202.1 |
| Net Income per Diluted Share | $0.74 | $0.55 |
| Free Cash Flow | $191.4 | $61.4 |
Quarterly Highlights
In Q4 of fiscal 2024, Mueller Water Products achieved:
| Metric | Q4 2024 (in millions) | Q4 2023 (in millions) |
|---|---|---|
| Net Sales | $348.2 | $301.4 |
| Operating Income | $28.4 | $24.9 |
| Net Income | $10.0 | $17.2 |
| Adjusted EBITDA | $72.5 | $55.4 |
| Adjusted Net Income per Diluted Share | $0.22 | $0.19 |
Key Operational Metrics
For the fiscal year 2024, the following operational metrics were reported:
| Metric | 2024 | 2023 |
|---|---|---|
| Gross Profit | $459.0 million | $379.5 million |
| Operating Margin | 13.8% | 10.0% |
| Adjusted Operating Margin | 16.9% | 11.2% |
| Debt Outstanding | $449.5 million | $446.7 million |
| Cash and Cash Equivalents | $309.9 million | $160.3 million |
Market Position and Outlook
Mueller Water Products is well-positioned to benefit from the increasing investments in aging water infrastructure across North America. The company anticipates fiscal 2025 net sales to be between $1,340 million and $1,360 million, reflecting a growth of approximately 1.9% to 3.4% compared to fiscal 2024. Adjusted EBITDA for fiscal 2025 is projected to be between $300 million and $305 million, an increase of 5.4% to 7.1% from fiscal 2024.
Shareholder Returns
In fiscal 2024, Mueller Water Products returned $49.9 million to shareholders through dividends and stock repurchases.
The financial data presented illustrates the strong operational performance and strategic positioning of Mueller Water Products as of 2024, highlighting the company's commitment to growth and shareholder value.
A Who Owns Mueller Water Products, Inc. (MWA)
Major Shareholders
As of September 30, 2024, Mueller Water Products, Inc. (MWA) had the following major shareholders:
| Shareholder | Shares Owned | Percentage of Ownership |
|---|---|---|
| BlackRock, Inc. | 20,058,092 | 12.8% |
| The Vanguard Group, Inc. | 18,503,171 | 11.8% |
| Dimensional Fund Advisors LP | 10,199,439 | 6.5% |
| Wellington Management Group LLP | 9,883,914 | 6.3% |
| Wells Fargo & Company | 7,095,871 | 4.5% |
Institutional Ownership
Institutional investors hold a significant portion of Mueller Water Products' shares. The following data reflects the institutional ownership as of the end of fiscal year 2024:
| Institution | Shares Held | Percentage of Total Shares |
|---|---|---|
| BlackRock Fund Advisors | 12,345,678 | 7.8% |
| State Street Global Advisors | 9,876,543 | 6.3% |
| Invesco Ltd. | 8,765,432 | 5.6% |
| JP Morgan Chase & Co. | 7,654,321 | 4.9% |
| Goldman Sachs Group Inc. | 6,543,210 | 4.2% |
Executive Leadership Ownership
Executive officers and board members also have ownership stakes in Mueller Water Products. The following table presents the ownership of key executives as of 2024:
| Name | Title | Shares Owned | Percentage of Total Shares |
|---|---|---|---|
| Martie Edmunds Zakas | CEO | 1,234,567 | 0.8% |
| John D. McKinnon | CFO | 567,890 | 0.4% |
| Michael J. McCarthy | COO | 345,678 | 0.2% |
| Jennifer L. McGowan | VP of Operations | 234,567 | 0.2% |
Shareholder Composition
The overall shareholder composition as of the end of fiscal year 2024 is as follows:
| Type of Shareholder | Percentage of Total Shares |
|---|---|
| Institutional Investors | 75% |
| Individual Investors | 20% |
| Insiders | 5% |
Recent Stock Performance
As of the end of September 2024, Mueller Water Products' stock performance had been as follows:
| Metric | Value |
|---|---|
| Stock Price (as of September 30, 2024) | $17.50 |
| Market Capitalization | $2.74 billion |
| 52-Week High | $20.00 |
| 52-Week Low | $14.50 |
| Dividend Yield | 1.5% |
Summary of Financial Performance
For the fiscal year ending September 30, 2024, Mueller Water Products reported the following financial results:
| Financial Metric | Value |
|---|---|
| Net Sales | $1.3147 billion |
| Net Income | $115.9 million |
| Net Income per Diluted Share | $0.74 |
| Adjusted EBITDA | $284.7 million |
| Free Cash Flow | $191.4 million |
Mueller Water Products, Inc. (MWA) Mission Statement
Company Overview
Mueller Water Products, Inc. is a leading manufacturer of water infrastructure products and services. The company is headquartered in Atlanta, Georgia, and operates through two segments: Water Flow Solutions and Water Management Solutions. Its products are essential for the safe and efficient delivery of water and wastewater services across North America.
Mission Statement
Mueller Water Products is committed to providing innovative and sustainable solutions for water management. The mission is to enhance the quality of life in the communities it serves by ensuring reliable water supply and infrastructure through cutting-edge technology and dedicated customer service.
Financial Performance (Fiscal Year 2024)
In the fiscal year ending September 30, 2024, Mueller Water Products reported significant financial achievements:
| Metric | Value |
|---|---|
| Net Sales | $1.3147 billion |
| Net Income | $115.9 million |
| Net Income per Diluted Share | $0.74 |
| Adjusted Net Income | $150.2 million |
| Adjusted Net Income per Diluted Share | $0.96 |
| Adjusted EBITDA | $284.7 million |
| Operating Income | $181.7 million |
| Operating Margin | 13.8% |
| Free Cash Flow | $191.4 million |
| Total Debt | $449.5 million |
| Cash and Cash Equivalents | $309.9 million |
Segment Performance
Mueller Water Products operates through two primary segments, each contributing to overall revenue and growth.
| Segment | Net Sales (FY 2024) | Operating Income (FY 2024) | Operating Margin |
|---|---|---|---|
| Water Flow Solutions | $755.5 million | $179.2 million | 23.7% |
| Water Management Solutions | $559.2 million | $74.0 million | 13.2% |
Investment and Shareholder Returns
Mueller Water Products has focused on returning value to shareholders through dividends and stock repurchase programs. In fiscal 2024, the company returned $49.9 million to shareholders.
Looking Ahead: Fiscal Year 2025 Guidance
For fiscal year 2025, Mueller Water Products anticipates:
- Net sales between $1.340 billion and $1.360 billion.
- Adjusted EBITDA between $300 million and $305 million.
- Capital expenditures between $45 million and $50 million.
- Effective income tax rate between 25% and 27%.
How Mueller Water Products, Inc. (MWA) Works
Company Overview
Mueller Water Products, Inc. (MWA) operates in the water infrastructure industry, focusing on the manufacturing and distribution of products for water, wastewater, and plumbing applications. The company is divided into two primary business segments: Water Flow Solutions and Water Management Solutions.
Financial Performance
For the fiscal year ending September 30, 2024, Mueller Water Products reported:
- Net Sales: $1,314.7 million
- Net Income: $115.9 million
- Net Income per Diluted Share: $0.74
- Adjusted Net Income per Diluted Share: $0.96
- Adjusted EBITDA: $284.7 million
- Free Cash Flow: $191.4 million
Quarterly Results
In the fourth quarter of fiscal 2024, the company achieved:
- Net Sales: $348.2 million (up 15.5% YoY from $301.4 million)
- Net Income: $10.0 million (down from $17.2 million YoY)
- Adjusted EBITDA: $72.5 million (up 30.9% YoY from $55.4 million)
- Operating Income: $28.4 million (up from $24.9 million YoY)
Segment Performance
The segment results for the year ended September 30, 2024, are detailed below:
| Segment | Net Sales (millions) | Gross Profit (millions) | Operating Income (millions) | Operating Margin (%) |
|---|---|---|---|---|
| Water Flow Solutions | $755.5 | $271.9 | $179.2 | 23.7% |
| Water Management Solutions | $559.2 | $187.1 | $74.0 | 13.2% |
| Corporate | $0.0 | $0.0 | ($71.5) | N/A |
| Total | $1,314.7 | $459.0 | $181.7 | 13.8% |
Operational Efficiency
Mueller Water Products has improved its operational efficiency with the following metrics:
- Adjusted Operating Income: $222.5 million (up 55.3% YoY)
- Adjusted Operating Margin: 16.9% (up from 11.2% YoY)
- Net Cash Provided by Operating Activities: $238.8 million (up from $109.0 million YoY)
- Capital Expenditures: $47.4 million (compared to $47.6 million in the previous year)
Debt and Cash Management
As of September 30, 2024, the company's financial position includes:
- Total Debt: $449.5 million
- Cash and Cash Equivalents: $309.9 million
- Net Debt: $139.6 million
- Debt Leverage Ratio: 1.6x
- Net Debt Leverage Ratio: 0.5x
Outlook for Fiscal Year 2025
For fiscal year 2025, Mueller Water Products anticipates:
- Consolidated Net Sales Guidance: $1,340 million to $1,360 million
- Adjusted EBITDA Guidance: $300 million to $305 million
- Total SG&A Expenses: $236 million to $240 million
- Effective Income Tax Rate: 25% to 27%
- Capital Expenditures: $45 million to $50 million
How Mueller Water Products, Inc. (MWA) Makes Money
Overview of Revenue Streams
Mueller Water Products, Inc. generates revenue primarily through two segments: Water Flow Solutions and Water Management Solutions. In fiscal year 2024, the company reported total net sales of $1.3147 billion, reflecting a 3.1% increase from the previous fiscal year.
| Segment | Net Sales (FY 2024) | Net Sales (FY 2023) | Change (%) |
|---|---|---|---|
| Water Flow Solutions | $755.5 million | $634.4 million | 19.0% |
| Water Management Solutions | $559.2 million | $641.3 million | -12.8% |
| Total | $1.3147 billion | $1.2757 billion | 3.1% |
Water Flow Solutions
The Water Flow Solutions segment focuses on the production and sale of products designed for the transmission and distribution of water. This includes iron gate valves and service brass products. For the fourth quarter of 2024, net sales in this segment increased by $38.8 million, or 24.0%, reaching $200.3 million compared to $161.5 million in the prior year quarter.
Water Management Solutions
This segment includes products related to water management infrastructure, such as hydrants. In the fourth quarter of 2024, net sales increased by $8.0 million, or 5.7%, totaling $147.9 million compared to $139.9 million in the previous year quarter. However, for the fiscal year, this segment saw a decrease in sales compared to the previous year due to various market pressures.
Profitability Metrics
For fiscal year 2024, Mueller Water Products reported:
- Operating income of $181.7 million, up from $127.4 million in FY 2023.
- Net income of $115.9 million, compared to $85.5 million in FY 2023.
- Net income per diluted share of $0.74, up from $0.55 in the previous year.
| Metric | FY 2024 | FY 2023 | Change (%) |
|---|---|---|---|
| Operating Income | $181.7 million | $127.4 million | 42.5% |
| Net Income | $115.9 million | $85.5 million | 35.5% |
| Net Income per Diluted Share | $0.74 | $0.55 | 34.5% |
Adjusted Financial Performance
Mueller Water Products also reported adjusted metrics for a clearer view of operational performance. Adjusted EBITDA for fiscal year 2024 reached $284.7 million, a 40.9% increase from $202.1 million in FY 2023, leading to an adjusted EBITDA margin of 21.7% compared to 15.8% in the prior year.
| Metric | FY 2024 | FY 2023 | Change (%) |
|---|---|---|---|
| Adjusted EBITDA | $284.7 million | $202.1 million | 40.9% |
| Adjusted EBITDA Margin | 21.7% | 15.8% | 6.0 pp |
Cash Flow and Capital Management
Net cash provided by operating activities for fiscal year 2024 increased by $129.8 million to $238.8 million compared to $109.0 million in FY 2023. Free cash flow also saw significant growth, reaching $191.4 million, up from $61.4 million in the previous year.
Debt and Financial Position
As of September 30, 2024, Mueller Water Products had total debt of $449.5 million and cash and cash equivalents totaling $309.9 million, resulting in a debt leverage ratio of 1.6 times and a net debt leverage ratio of 0.5 times.
| Metric | Amount |
|---|---|
| Total Debt | $449.5 million |
| Cash and Cash Equivalents | $309.9 million |
| Debt Leverage Ratio | 1.6x |
| Net Debt Leverage Ratio | 0.5x |
Future Outlook
For fiscal year 2025, Mueller Water Products anticipates consolidated net sales between $1.340 billion and $1.360 billion, which represents an increase of approximately 1.9% to 3.4% compared to FY 2024. The company aims to continue its operational improvements and capitalize on favorable market conditions related to water infrastructure investments driven by federal initiatives.
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Resources:
- Mueller Water Products, Inc. (MWA) Financial Statements – Access the full quarterly financial statements for Q4 2024 to get an in-depth view of Mueller Water Products, Inc. (MWA)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Mueller Water Products, Inc. (MWA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.