$MLI
MUELLER INDUSTRIES INC

2021 Q1 Form 10-Q Financial Statement

#000008943921000030 Filed on April 21, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $818.1M $602.9M
YoY Change 35.7% -1.45%
Cost Of Revenue $668.4M $508.7M
YoY Change 31.39% -0.52%
Gross Profit $149.7M $94.20M
YoY Change 58.94% -6.16%
Gross Profit Margin 18.3% 15.62%
Selling, General & Admin $45.44M $42.75M
YoY Change 6.28% 5.16%
% of Gross Profit 30.34% 45.38%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.76M $11.04M
YoY Change 6.49% 4.59%
% of Gross Profit 7.85% 11.72%
Operating Expenses $45.44M $42.75M
YoY Change 6.28% 5.16%
Operating Profit $92.54M $59.31M
YoY Change 56.03% 20.6%
Interest Expense $4.469M $5.379M
YoY Change -16.92% -22.65%
% of Operating Profit 4.83% 9.07%
Other Income/Expense, Net $577.0K $278.0K
YoY Change 107.55% -261.63%
Pretax Income $88.65M $54.21M
YoY Change 63.53% 28.91%
Income Tax $21.76M $14.14M
% Of Pretax Income 24.55% 26.09%
Net Earnings $63.11M $32.42M
YoY Change 94.68% 106.16%
Net Earnings / Revenue 7.71% 5.38%
Basic Earnings Per Share $1.13 $0.58
Diluted Earnings Per Share $1.11 $0.57
COMMON SHARES
Basic Shares Outstanding 55.92M shares 55.88M shares
Diluted Shares Outstanding 56.67M shares 56.46M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $129.9M $154.3M
YoY Change -15.81% 58.09%
Cash & Equivalents $129.9M $154.3M
Short-Term Investments
Other Short-Term Assets $43.71M $40.89M
YoY Change 6.9% 26.5%
Inventory $365.5M $270.1M
Prepaid Expenses
Receivables $447.5M $308.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $986.5M $774.1M
YoY Change 27.44% -1.33%
LONG-TERM ASSETS
Property, Plant & Equipment $384.9M $366.8M
YoY Change 4.91% -0.78%
Goodwill $168.2M $160.8M
YoY Change 4.59% 5.04%
Intangibles $77.78M $56.58M
YoY Change 37.47% -8.08%
Long-Term Investments $38.90M $44.70M
YoY Change -12.98% -11.83%
Other Assets $13.57M $24.27M
YoY Change -44.1% -6.29%
Total Long-Term Assets $711.8M $671.8M
YoY Change 5.95% -2.71%
TOTAL ASSETS
Total Short-Term Assets $986.5M $774.1M
Total Long-Term Assets $711.8M $671.8M
Total Assets $1.698B $1.446B
YoY Change 17.46% -1.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $177.2M $94.25M
YoY Change 87.98% -12.16%
Accrued Expenses $46.00M $38.20M
YoY Change 20.42% 11.05%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $106.2M $7.591M
YoY Change 1298.55% 51.82%
Total Short-Term Liabilities $444.5M $229.9M
YoY Change 93.34% 4.25%
LONG-TERM LIABILITIES
Long-Term Debt $286.6M $468.2M
YoY Change -38.8% -16.36%
Other Long-Term Liabilities $14.50M $9.801M
YoY Change 47.97% -50.97%
Total Long-Term Liabilities $301.1M $478.0M
YoY Change -37.02% -17.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $444.5M $229.9M
Total Long-Term Liabilities $301.1M $478.0M
Total Liabilities $830.3M $780.6M
YoY Change 6.36% -12.6%
SHAREHOLDERS EQUITY
Retained Earnings $1.075B $929.8M
YoY Change 15.66% 11.38%
Common Stock $802.0K $802.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $469.3M $475.0M
YoY Change -1.2% -0.24%
Treasury Stock Shares
Shareholders Equity $841.1M $645.7M
YoY Change
Total Liabilities & Shareholders Equity $1.698B $1.446B
YoY Change 17.46% -1.97%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $63.11M $32.42M
YoY Change 94.68% 106.16%
Depreciation, Depletion And Amortization $11.76M $11.04M
YoY Change 6.49% 4.59%
Cash From Operating Activities -$22.58M $28.05M
YoY Change -180.5% -213.69%
INVESTING ACTIVITIES
Capital Expenditures -$9.200M -$17.10M
YoY Change -46.2% 151.47%
Acquisitions $14.03M $15.41M
YoY Change -8.94%
Other Investing Activities -$12.30M -$15.40M
YoY Change -20.13% 92.5%
Cash From Investing Activities -$21.53M -$32.50M
YoY Change -33.77% 119.16%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change -100.0%
Common Stock Issuance & Retirement, Net $0.00 $5.574M
YoY Change -100.0% 216.17%
Debt Paid & Issued, Net $35.29M $20.57M
YoY Change 71.53% -32.49%
Cash From Financing Activities $64.98M $84.51M
YoY Change -23.11% 39.79%
NET CHANGE
Cash From Operating Activities -$22.58M $28.05M
Cash From Investing Activities -$21.53M -$32.50M
Cash From Financing Activities $64.98M $84.51M
Net Change In Cash $21.66M $73.92M
YoY Change -70.71% 238.04%
FREE CASH FLOW
Cash From Operating Activities -$22.58M $28.05M
Capital Expenditures -$9.200M -$17.10M
Free Cash Flow -$13.38M $45.15M
YoY Change -129.64% -352.62%

Facts In Submission

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CY2021Q1 dei Current Fiscal Year End Date
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CY2021Q1 dei Document Fiscal Year Focus
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CY2021Q1 dei Entity File Number
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CY2021Q1 dei Entity Registrant Name
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MUELLER INDUSTRIES INC
CY2021Q1 dei Entity Incorporation State Country Code
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DE
CY2021Q1 dei Entity Tax Identification Number
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
801060000 USD
CY2021Q1 us-gaap Liabilities And Stockholders Equity
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CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1528568000 USD
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65238000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
33951000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
11775000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
11119000 USD
CY2021Q1 us-gaap Share Based Compensation
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ShareBasedCompensation
1985000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
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1631000 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1100000 USD
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IncomeLossFromEquityMethodInvestments
-1649000 USD
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IncomeLossFromEquityMethodInvestments
-6115000 USD
CY2021Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
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936000 USD
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GainLossOnSaleOfPropertyPlantEquipment
-32000 USD
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
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AssetImpairmentCharges
3035000 USD
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
142000 USD
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DeferredIncomeTaxExpenseBenefit
213000 USD
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46291000 USD
CY2021Q1 us-gaap Increase Decrease In Inventories
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45590000 USD
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-17450000 USD
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-1230000 USD
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-8010000 USD
CY2021Q1 us-gaap Increase Decrease In Other Current Liabilities
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33941000 USD
CY2020Q1 us-gaap Increase Decrease In Other Current Liabilities
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-10821000 USD
CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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-3703000 USD
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
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95000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
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-3796000 USD
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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2021Q1 us-gaap Payments To Acquire Productive Assets
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CY2020Q1 us-gaap Payments To Acquire Productive Assets
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17094000 USD
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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14029000 USD
CY2020Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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15407000 USD
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ProceedsFromSaleOfPropertyPlantAndEquipment
1730000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-21526000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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0 USD
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100000000 USD
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CY2021Q1 us-gaap Repayments Of Long Term Debt
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20572000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
45000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
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CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
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221000 USD
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464000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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784000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
21655000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
73922000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149031000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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171964000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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818148000 USD
CY2021Q1 us-gaap Cost Of Goods And Services Sold
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668418000 USD
CY2021Q1 us-gaap Depreciation Depletion And Amortization
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11755000 USD
CY2021Q1 us-gaap Selling General And Administrative Expense
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45435000 USD
CY2021Q1 us-gaap Operating Income Loss
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92540000 USD
CY2021Q1 us-gaap Interest Expense
InterestExpense
4469000 USD
CY2021Q1 us-gaap Other Nonoperating Income Expense
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577000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
88648000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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602919000 USD
CY2020Q1 us-gaap Cost Of Goods And Services Sold
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508715000 USD
CY2020Q1 us-gaap Depreciation Depletion And Amortization
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11039000 USD
CY2020Q1 us-gaap Selling General And Administrative Expense
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42752000 USD
CY2020Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
3035000 USD
CY2020Q1 us-gaap Gain Loss Related To Litigation Settlement
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21933000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
59311000 USD
CY2020Q1 us-gaap Interest Expense
InterestExpense
5379000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
278000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
54210000 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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818148000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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602919000 USD
CY2021Q1 us-gaap Inventory Raw Materials And Supplies
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119196000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
85927000 USD
CY2021Q1 us-gaap Inventory Work In Process
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52803000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
49361000 USD
CY2021Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
201748000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
186785000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
119075000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
19052000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
8198000 USD
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
103000 USD
CY2020Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
103000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
149031000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
127376000 USD
CY2021Q1 us-gaap Inventory Adjustments
InventoryAdjustments
8290000 USD
CY2020Q4 us-gaap Inventory Adjustments
InventoryAdjustments
7071000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
365457000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
315002000 USD
CY2021Q1 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
18600000 USD
CY2020Q4 us-gaap Derivative Collateral Obligation To Return Cash
DerivativeCollateralObligationToReturnCash
7600000 USD
CY2021Q1 mli Term Of Guarantees
TermOfGuarantees
P1Y
CY2021Q1 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
19300000 USD
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.25
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26
CY2021Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2400000 USD
CY2021Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
700000 USD
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26
CY2020Q1 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2200000 USD
CY2020Q1 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
600000 USD

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