Copper tube maker Mueller Industries' Q3 revenue rises on higher volumes
MLI•Mueller Industries reported Q3 sales of $1.42 billion, operating income of $281.57 million and pretax profit of $299.24 million. Revenue growth was driven by higher unit volumes and price adjustments for increased material costs.
1. Sales and demand
Mueller Industries said higher unit volumes and price adjustments for increased material costs drove Q3 sales growth. The company said U.S. data center expansions and commercial building activity supported demand and backlog growth, while a weaker residential construction market affected product mix.
2. Investment plans
The company plans further investments in North American manufacturing to reduce costs and reshore production. It also aims to expand product offerings and distribution capabilities across its business segments.
