Form 8-K

8-K — MUELLER INDUSTRIES INC

Accession: 0000089439-26-000014

Filed: 2026-04-21

Period: 2026-04-21

CIK: 0000089439

SIC: 3350 (ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — mli-20260421.htm (Primary)

EX-99.1 (exhibit991q12026earningsre.htm)

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8-K

8-K (Primary)

Filename: mli-20260421.htm · Sequence: 1

mli-20260421

0000089439FALSE00000894392026-04-212026-04-21

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2026

MUELLER INDUSTRIES INC.

(Exact name of registrant as specified in its charter)

Delaware 1-6770 25-0790410

(State or other jurisdiction (Commission File (IRS Employer

of incorporation) Number) Identification No.)

150 Schilling Boulevard Suite 100

Collierville Tennessee 38017

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (901) 753-3200

Registrant’s Former Name or Address, if changed since last report: N/A

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of exchange on which registered

Common Stock MLI NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new of revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 21, 2026, the Registrant issued a press release announcing earnings for the quarter ended March 28, 2026. A copy of the press release announcing the first quarter 2026 earnings is attached as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1

Press release, dated April 21, 2026 reporting first quarter 2026 earnings.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

MUELLER INDUSTRIES, INC.

By:

/s/ ANTHONY J. STEINRIEDE

Name: Anthony J. Steinriede

Title: Vice President - Corporate Controller

April 21, 2026

Exhibit Index

Exhibit No. Description

99.1

Press release, dated April 21, 2026

EX-99.1

Filename: exhibit991q12026earningsre.htm · Sequence: 2

Document

Mueller Industries, Inc. Reports First Quarter 2026 Earnings

COLLIERVILLE, Tenn., April 21, 2026 -- Mueller Industries, Inc. (NYSE: MLI) announces results for the first quarter of 2026. Comparisons are to the first quarter of 2025.

•Net Sales increased to $1.19 billion versus $1.00 billion.

•Net Income increased to $239.0 million versus $157.4 million.

•Operating Income increased to $312.2 million versus $206.3 million.

•Diluted EPS increased to $2.16 versus $1.39.

•Dividends per share increased to $.35 versus $.25.

First Quarter Financial and Operating Highlights:

•COMEX copper averaged $5.80 per pound during the quarter, a 26.8 percent increase.

•Improved sales in our industrial, electrical, commercial and mechanical markets, combined with higher selling prices stemming from the rise in raw material costs, contributed to the overall increase in net sales.

•Our reported operating income includes a gain of $41.4 million on the sale of our Sherwood Valve business. The prior year period included a gain of $14.5 million on the sale of assets. Adjusting for these gains, our operating income increased 41 percent.

•Net cash generated from operations was $79.7 million. We utilized $75.0 million during the quarter to repurchase 650,000 shares of our common stock.

•Our cash balance at quarter end was $1.38 billion, with no debt, and our current ratio remains strong at 5.4 to 1.

Regarding the results, Greg Christopher, Mueller’s CEO said, “Solid operational execution, including effective raw material and price management and prudent cost controls, along with our diverse end market portfolio, all contributed to the best first quarter earnings in our Company’s history. In addition, our continued strong cash generation supported components of our overall capital allocation strategy, including the stock buyback and a 40 percent increase in our quarterly dividend, our sixth consecutive annual double-digit increase.

We also were excited to complete the acquisition of Bison Metals Technologies on March 30th, and to welcome Bison’s experienced and talented leadership team. The acquisition will immediately provide important synergies that will benefit our entire North American copper tube products platform and enable us to increase our collective copper tube manufacturing capacities. Out of the gate, the integration has been seamless and successful.”

Regarding the outlook he added, “Business conditions and our outlook remain consistent with those described in our recently published annual report. Shifts in patterns of construction and market effects from tariffs have strengthened demand for higher margin products, and as we adjust to the changes in mix, we expect our production and shipments to further improve. We also look forward to an improvement in economic conditions abroad, and particularly, an improvement in the residential and commercial construction markets in the U.S. Once those markets recover, we are exceedingly well positioned to benefit.”

Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; electrical transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East.

*********************

Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.

CONTACT

Jeffrey A. Martin

(901) 753-3226

MUELLER INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

For the Quarter Ended

(In thousands, except per share data) March 28, 2026 March 29, 2025

Net sales $ 1,193,005 $ 1,000,165

Cost of goods sold 834,561 728,185

Depreciation and amortization 16,652 17,123

Selling, general, and administrative expense 66,785 63,060

Loss (gain) on disposal of assets, net 1,533 (14,465)

Gain on sale of business (41,407) —

Asset impairments 2,653 —

Operating income 312,228 206,262

Interest expense — (25)

Interest income 11,870 9,901

Unrealized losses on short-term investments (2,037) (5,010)

Other (expense) income, net (1,232) 92

Income before income taxes 320,829 211,220

Income tax expense (79,555) (51,475)

Income (loss) from unconsolidated affiliates, net of foreign tax 115 (458)

Consolidated net income 241,389 159,287

Net income attributable to noncontrolling interests (2,371) (1,855)

Net income attributable to Mueller Industries, Inc. $ 239,018 $ 157,432

Weighted average shares for basic earnings per share 109,094 110,739

Effect of dilutive stock-based awards 1,815 2,333

Adjusted weighted average shares for diluted earnings per share 110,909 113,072

Basic earnings per share $ 2.19 $ 1.42

Diluted earnings per share $ 2.16 $ 1.39

Dividends per share $ 0.35 $ 0.25

MUELLER INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME, CONTINUED

(Unaudited)

For the Quarter Ended

(In thousands) March 28, 2026 March 29, 2025

Summary Segment Data:

Net sales:

Piping Systems Segment $ 760,528 $ 639,683

Industrial Metals Segment 321,277 251,913

Climate Segment 123,765 123,107

Elimination of intersegment sales (12,565) (14,538)

Net sales

$ 1,193,005 $ 1,000,165

Operating income:

Piping Systems Segment $ 217,010 $ 158,164

Industrial Metals Segment 44,271 30,084

Climate Segment 33,379 35,624

Unallocated income (expenses) 17,568 (17,610)

Operating income $ 312,228 $ 206,262

MUELLER INDUSTRIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(In thousands)

March 28,

2026 December 27, 2025

ASSETS

Cash and cash equivalents $ 1,382,345 $ 1,367,003

Short-term investments 20,696 22,733

Accounts receivable, net

670,511 475,566

Inventories 545,451 510,463

Other current assets

53,037 69,980

Total current assets 2,672,040 2,445,745

Property, plant, and equipment, net 530,300 536,466

Operating lease right-of-use assets

22,868 27,211

Other assets

717,155 723,607

Total assets $ 3,942,363 $ 3,733,029

LIABILITIES AND STOCKHOLDERS’ EQUITY

Accounts payable $ 243,539 $ 180,577

Current portion of operating lease liabilities

7,907 8,520

Other current liabilities

247,835 224,037

Total current liabilities 499,281 413,134

Pension and postretirement liabilities 8,373 8,393

Environmental reserves 15,501 15,684

Deferred income taxes 32,499 31,640

Noncurrent operating lease liabilities 14,917 18,970

Other noncurrent liabilities

10,960 9,302

Total liabilities

581,531 497,123

Total Mueller Industries, Inc. stockholders’ equity 3,334,451 3,209,966

Noncontrolling interests

26,381 25,940

Total equity

3,360,832 3,235,906

Total liabilities and equity $ 3,942,363 $ 3,733,029

MUELLER INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Quarter Ended

(In thousands)

March 28, 2026 March 29, 2025

Cash flows from operating activities

Consolidated net income $ 241,389 $ 159,287

Reconciliation of consolidated net income to net cash provided by operating activities:

Depreciation and amortization 16,652 17,123

Stock-based compensation expense 7,332 6,150

Provision for credit losses 861 99

(Income) loss from unconsolidated affiliates (115) 458

Dividends from unconsolidated affiliates 1,724 2,812

Loss (gain) on disposals of assets, net 1,533 (14,465)

Gain on sale of business (41,407) —

Unrealized losses on short-term investments 2,037 5,010

Impairment charges 2,653 —

Deferred income tax expense 2,036 1,651

Changes in assets and liabilities, net of effects of business sold:

Receivables (200,192) (101,524)

Inventories (43,936) (18,542)

Other assets (612) 410

Current liabilities 88,912 57,702

Other liabilities 1,509 (2,598)

Other, net (635) (14)

Net cash provided by operating activities $ 79,741 $ 113,559

Cash flows from investing activities

Capital expenditures $ (17,236) $ (16,592)

Proceeds from sale of business, net of cash sold 57,004 —

Purchase of short-term investments — (26,633)

Purchase of long-term investments (834) (552)

Proceeds from sales of assets 5 19,737

Other — 600

Net cash provided by (used in) investing activities $ 38,939 $ (23,440)

MUELLER INDUSTRIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

For the Quarter Ended

(In thousands) March 28, 2026 March 29, 2025

Cash flows from financing activities

Dividends paid to stockholders of Mueller Industries, Inc. $ (38,043) $ (27,262)

Repurchase of common stock (74,981) (243,615)

Repayments of debt — (56)

Net cash used to settle stock-based awards (535) (4,494)

Dividends paid to noncontrolling interests (4,766) (12,240)

Other 3,100 —

Net cash used in financing activities $ (115,225) $ (287,667)

Effect of exchange rate changes on cash (1,810) 392

Increase (decrease) in cash, cash equivalents, and restricted cash 1,645 (197,156)

Cash, cash equivalents, and restricted cash at the beginning of the period 1,385,157 1,038,895

Cash, cash equivalents, and restricted cash at the end of the period $ 1,386,802 $ 841,739

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Apr. 21, 2026

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