Mueller Water Products, Inc. (MWA) Tops Q3 EPS by 10c, provides outlook

Mueller Water Products, Inc. (NYSE: MWA) reported Q3 EPS of $0.32, $0.10 better than the analyst estimate of $0.22. Revenue for the quarter came in at $356.7 million versus the consensus estimate of $329.67 million.

Fiscal 2024 Outlook

The Company is increasing its expectations for fiscal 2024 consolidated net sales to be between $1,285 million and $1,295 million, or an increase of 0.7% to 1.5% compared with fiscal 2023. The Company is also increasing its expectations for fiscal 2024 adjusted EBITDA to be between $271 million and $275 million, or an increase of 34.1% to 36.1% compared with fiscal 2023. The Company expects free cash flow as a percentage of adjusted net income to be more than 85 percent in fiscal 2024.

The Company’s expectations for certain additional financial metrics for fiscal 2024 are as follows:

Total SG&A expenses between $248 million and $250 million
Net interest expense between $12 million and $13 million
Effective income tax rate of approximately 24 percent
Depreciation and amortization between $65 million and $66 million
Pension expense other than service of approximately $4 million
Capital expenditures between $40 million and $45 million

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

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