“239,018 157,432 51.8 The increase in net sales during the first quarter of 2026 was primarily due to (i) higher net selling prices of $219.1 million in our core product lines, primarily copper tube, brass rod, and high-quality wire and cable, related to the r…”10-Q · Apr 22, 2026 ↗
Mueller Industries, Inc.
MLI
Market read
Mueller Industries, Inc.'s current read is isolated; its market group is not confirming.
The latest filing is mixed. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 19.3% versus the comparable filing period.
- Operating cash flow covered only 0.33x net income.
- Net sales rose primarily due to higher demand, particularly for products used in commercial construction, plus increases in volume and price in certain lines.
Invalidation: The isolated read changes if MLI's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing is mixed. 0 of 3 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 3 directly disclosed connections are confirming.
- Revenue increased 19.3% versus the comparable filing period.
- Operating margin improved 5.5 percentage points.
- Net income increased 51.8% versus the comparable filing period.
- Operating cash flow covered only 0.33x net income.
- Net sales rose primarily due to higher demand, particularly for products used in commercial construction, plus increases in volume and price in certain lines.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +10.9% year over year.
- Operating margin changed +2.5 percentage points in the latest annual period.
- Net margin changed +2.3 percentage points in the latest annual period.
- Input and raw-material costs has repeated favorable evidence across 3 filings.
No qualifying adverse evidence was identified; that is not proof there is no downside.
No credible peer-relative valuation comparison is available yet.
Price as of Sep 10, 2026
60.16Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Cash Flows from I nvesting Activities The major components of net cash provided by investing activities during the quarter ended March 28, 2026 included proceeds from the sale of the Sherwood business, net of cash sold, of $57.0 million, partially offset by c…”10-Q · Apr 22, 2026 ↗
“2025 Net sales $ 144,952 $ 137,515 5.4 % $ 268,717 $ 260,622 3.1 % Operating income 42,583 42,628 (0.1) 75,962 78,252 (2.9) Net sales for the second quarter and first half of 2026 increased primarily as a result of higher demand, particularly for products uti…”10-Q · Jul 22, 2026 ↗
“Other The Company is involved in certain litigation as a result of claims that arose in the ordinary course of business, which management believes will not have a material adverse effect on the Company’s financial position, results of operations, or cash flow…”10-K · Feb 25, 2026 ↗
Valuation discipline
Peer-relative valuation withheld
Jodie found no industry-matched filing peers suitable for a valuation comparison. It will not substitute broader financial-sector names.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for MLI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
The latest filing presents a mixed picture
10-Q filed 2026-04-22 against the comparable filing from 2025-04-23.
What improved
- Revenue increased 19.3% versus the comparable filing period.
- Operating margin improved 5.5 percentage points.
- Net income increased 51.8% versus the comparable filing period.
What weakened
- Operating cash flow covered only 0.33x net income.
Filing receipts
“The following tables compare cost of goods sold and operating expenses as dollar amounts and as a percent of net sales for the first quarters of 2026 and 2025: For the Quarter Ended (In thousands) March 28, 2026 March 29, 2025 Cost of goods sold $ 81,763 $ 78,515 Depreciation and amortization 1,679 1,692 Selling, general and administrative expense 6,944 7,279 Gain on disposal of assets, net — (3) Operating expenses $ 90,386 $ 87,483 For the Quarter Ended March 28, 2026 March 29, 2025 Cost of goods sold 66.1 % 63.8 % Depreciation and amortization 1.4 1.4 Selling, general and administrative expense 5.6 5.9 Gain on disposal of assets, net — — Operating expenses 73.1 % 71.1 % Cost of goods sold...”
“The following tables compare cost of goods sold and operating expenses as dollar amounts and as a percent of net sales for the first quarters of 2026 and 2025: For the Quarter Ended (In thousands) March 28, 2026 March 29, 2025 Cost of goods sold $ 262,242 $ 207,486 Depreciation and amortization 8,308 8,356 Selling, general, and administrative expense 6,448 5,987 Loss on disposal of assets, net 8 — Operating expenses $ 277,006 $ 221,829 For the Quarter Ended March 28, 2026 March 29, 2025 Cost of goods sold 81.6 % 82.4 % Depreciation and amortization 2.6 3.3 Selling, general, and administrative expense 2.0 2.4 Loss on disposal of assets, net — — Operating expenses 86.2 % 88.1 % The change in...”
“239,018 157,432 51.8 The increase in net sales during the first quarter of 2026 was primarily due to (i) higher net selling prices of $219.1 million in our core product lines, primarily copper tube, brass rod, and high-quality wire and cable, related to the rise in raw material costs, and (ii) an increase in sales of $16.8 million in our non-core product lines.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind MLI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
NCLHNorwegian Cruise Line Holdings Ltd.partnerFeb 25, 2026 ▾
“At December 27, 2025, we had open forward contracts with a financial institution to sell approximately 5.3 million euros, 36.6 million Swedish kronor, and 10.9 million Norwegian kroner through April 2026.”
BTIBritish American Tobacco p.l.c.investeeFeb 25, 2026 ▾
“The primary currencies to which we are exposed include the Canadian dollar, the British pound sterling, the Mexican peso, the South Korean won, and the Bahraini dinar.”
FMXFomento Económico Mexicano, S.A.B. de C.V.investeeFeb 25, 2026 ▾
“The primary currencies to which we are exposed include the Canadian dollar, the British pound sterling, the Mexican peso, the South Korean won, and the Bahraini dinar.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
MLI is currently a Early Follower in the organic co-movement group Mixed Sector Exposure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.