Mueller Industries Q2 EPS $3.12 Beats $2.40 Estimate, Sales $896.98M Miss $1.03B Estimate
Portfolio Pulse from Benzinga Newsdesk
Mueller Industries (NYSE:MLI) reported Q2 earnings of $3.12 per share, beating the analyst consensus estimate of $2.40 by 30 percent. However, this is a 14.52 percent decrease from the same period last year. The company's quarterly sales of $896.98 million missed the analyst consensus estimate of $1.03 billion by 12.91 percent, marking a 22.00 percent decrease from the same period last year.
July 25, 2023 | 3:17 pm
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Mueller Industries' Q2 earnings exceeded estimates but sales fell short, with both earnings and sales showing a decrease from the same period last year.
While Mueller Industries beat earnings estimates, which could have a positive impact on the stock, the miss on sales and the year-over-year decrease in both earnings and sales could have a negative impact. The mixed results make it difficult to predict the short-term direction of the stock.
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