Paul Mueller Co's Q3 net sales rise on industrial equipment demand in US
MUEL•Paul Mueller Co's Q3 net sales increased and net income more than doubled year over year, driven by higher US industrial equipment demand and strong European dairy markets. Backlog stood at $245.6 million, mostly in industrial equipment.
1. Sales and demand
Paul Mueller Co said Q3 net sales increased and net income more than doubled year over year, citing higher demand in its US industrial equipment segment and strong demand in European dairy farm markets.
2. Backlog and capacity
Backlog was $245.6 million, with the majority in industrial equipment. The company said its transition into a new module fabrication building added capacity to support domestic revenue growth; its Dutch subsidiary recorded increased backlog and revenue.
