Mueller Water Products, Inc. (MWA) Misses Q3 EPS by 2c; offers outlook

Mueller Water Products, Inc. (NYSE: MWA) reported Q3 EPS of $0.18, $0.02 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $326.6 million versus the consensus estimate of $351.74 million.

Full-Year Fiscal 2023 Outlook

Based on current market conditions, including expectations for channel inventories and order levels, and anticipated brass production levels, the Company anticipates annual consolidated net sales will be between flat and down 2 percent compared with the prior year and adjusted EBITDA will be between flat and down 5 percent compared with the prior year. This outlook considers pension expense other than service, which is excluded from adjusted operating income, of approximately $3.8 million in 2023 compared with a benefit of $3.9 million in the prior year. The Company expects free cash flow as a percentage of adjusted net income to be more than 30 percent for the full-year fiscal 2023.

The Company’s expectations for certain financial metrics for the full-year fiscal 2023 are as follows:

Total SG&A expenses between $246 million and $248 million
Net interest expense between $15 million and $16 million
Effective income tax rate between 23 percent and 24 percent
Depreciation and amortization between $62 million and $63 million
Capital expenditures between $50 million and $55 million

For earnings history and earnings-related data on Mueller Water Products, Inc. (MWA) click here.

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