Mueller Industries, Inc. Reports Third Quarter 2026 Earnings

Mueller Industries, Inc. Reports Third Quarter 2026 Earnings COLLIERVILLE, Tenn., October 20, 2026 -- Mueller Industries, Inc. (NYSE: MLI) announces results for the third quarter of 2026. Comparisons are to the third quarter of 2025. •Net Sales increased to $1.42 billion versus $1.08 billion. •Net Income increased to $221.2 million versus $208.1 million. •Operating Income increased to $281.6 million versus $276.1 million. •Diluted EPS* increased to $1.00 versus $0.94. •Dividends per share* increased to $.175 versus $.125. * Diluted EPS and dividends per share have been adjusted to reflect the two-for-one stock split that took effect on 6/30/2026. Third Quarter Financial and Operating Highlights: •COMEX copper averaged $6.48 per pound during the quarter, a 34.2 percent increase over the prior year period. •Unit volume growth across most of our businesses, combined with price adjustments related to the rise in material costs, contributed to the increase in net sales. •The results include $9.4 million in charges related to purchase accounting for recent acquisitions. •Net cash generated from operations was $337.0 million, raising our cash and short-term investments at quarter end to $1.48 billion. •During the quarter, we purchased 3.2 million shares of our common stock for a total of $201.9 million. Year-to-date, we have purchased 4.5 million shares. • Our current ratio remains strong at 4.4 to 1. Regarding the results, Greg Christopher, Mueller’s CEO said, “For the ninth consecutive quarter, we delivered year over year earnings growth driven by stronger performance across all three of our business segments. Throughout the quarter, demand remained healthy and backlogs grew in each segment, largely propelled by U.S. data center expansions and other commercial building activities. These results are particularly noteworthy given the protracted decline in the residential construction market. Our team has done an excellent job adjusting to shifts in demand and mix, as well as managing price relative to cost escalation.” Regarding the outlook, he added “As we approach the finish line for 2026 and look ahead, we remain optimistic as we execute on our key strategic priorities. These include investments in our North American manufacturing operations to reduce costs and reshore production to support shifting demand, along with initiatives to increase our product offerings and expand distribution capabilities across multiple business 1 segments. These actions will keep us well-positioned to capitalize on opportunities when residential building construction recovers in the U.S. and global economic conditions improve.” Mueller Industries, Inc. (NYSE: MLI) is an industrial corporation whose holdings manufacture vital goods for important markets such as air, water, oil and gas distribution; climate comfort; food preservation; electrical transmission; medical; aerospace; and automotive. It includes a network of companies and brands throughout North America, Europe, Asia, and the Middle East. ********************* Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report. CONTACT Jeffrey A. Martin (901) 753-3226 2 MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) For the Quarter Ended For the Nine Months Ended (In thousands, except per share data) September 26, 2026 September 27, 2025 September 26, 2026 September 27, 2025 Net sales $ 1,418,598 $ 1,077,824 $ 4,039,526 $ 3,216,162 Cost of goods sold 1,057,156 738,148 2,924,294 2,251,527 Depreciation and amortization 21,173 16,607 55,160 51,635 Selling, general, and administrative expense 63,048 61,657 197,683 192,238 (Gain) loss on disposal of assets, net — (11,852) 1,720 (26,654) Gain on sale of business — — (41,407) — Asset impairments — 2,018 2,653 2,018 Gain on insurance proceeds (4,352) (4,869) (4,352) (41,147) Operating income 281,573 276,115 903,775 786,545 Interest expense (136) (6) (270) (48) Interest income 12,002 10,822 34,850 28,945 Unrealized gains (losses) on short-term investments 5,859 (2,277) 10,367 5,925 Pension plan termination expense — (4,830) — (4,830) Other (expense) income, net (62) 627 (2,421) (423) Income before income taxes 299,236 280,451 946,301 816,114 Income tax expense (76,607) (73,904) (239,031) (204,236) Income from unconsolidated affiliates, net of foreign tax 1,688 3,701 8,723 6,140 Consolidated net income 224,317 210,248 715,993 618,018 Net income attributable to noncontrolling interests (3,117) (2,125) (6,120) (6,539) Net income attributable to Mueller Industries, Inc. $ 221,200 $ 208,123 $ 709,873 $ 611,479 Weighted average shares for basic earnings per share (1) 216,988 218,228 217,530 219,066 Effect of dilutive stock-based awards (1) 3,129 3,632 3,513 4,230 Adjusted weighted average shares for diluted earnings per share (1) 220,117 221,860 221,043 223,296 Basic earnings per share (1) $ 1.02 $ 0.95 $ 3.26 $ 2.79 Diluted earnings per share (1) $ 1.00 $ 0.94 $ 3.21 $ 2.74 Dividends per share (1) $ 0.175 $ 0.125 $ 0.525 $ 0.375 (1) Adjusted retroactively to reflect the two-for-one stock split that occurred on June 30, 2026. 3 MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME, CONTINUED (Unaudited) For the Quarter Ended For the Nine Months Ended (In thousands) September 26, 2026 September 27, 2025 September 26, 2026 September 27, 2025 Summary Segment Data: Net sales: Piping Systems Segment $ 890,610 $ 718,404 $ 2,597,713 $ 2,101,562 Industrial Metals Segment 409,377 248,939 1,085,652 771,450 Climate Segment 142,827 126,665 411,544 387,287 Elimination of intersegment sales (24,216) (16,184) (55,383) (44,137) Net sales $ 1,418,598 $ 1,077,824 $ 4,039,526 $ 3,216,162 Operating income: Piping Systems Segment $ 225,260 $ 216,159 $ 690,616 $ 624,619 Industrial Metals Segment 33,713 30,928 120,771 91,622 Climate Segment 46,270 38,900 122,232 117,152 Unallocated expenses (23,670) (9,872) (29,844) (46,848) Operating income $ 281,573 $ 276,115 $ 903,775 $ 786,545 4 MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands) September 26, 2026 December 27, 2025 ASSETS Cash and cash equivalents $ 1,447,799 $ 1,367,003 Short-term investments 33,100 22,733 Accounts receivable, net 723,993 475,566 Inventories 621,390 510,463 Other current assets 53,215 69,980 Total current assets 2,879,497 2,445,745 Property, plant, and equipment, net 602,787 536,466 Operating lease right-of-use assets 21,066 27,211 Other assets 794,244 723,607 Total assets $ 4,297,594 $ 3,733,029 LIABILITIES AND STOCKHOLDERS’ EQUITY Accounts payable $ 297,923 $ 180,577 Current portion of operating lease liabilities 8,181 8,520 Other current liabilities 349,488 224,037 Total current liabilities 655,592 413,134 Long-term debt 5,243 — Pension and postretirement liabilities 8,748 8,393 Environmental reserves 15,758 15,684 Deferred income taxes 46,345 31,640 Noncurrent operating lease liabilities 13,097 18,970 Other noncurrent liabilities 10,493 9,302 Total liabilities 755,276 497,123 Total Mueller Industries, Inc. stockholders’ equity 3,511,451 3,209,966 Noncontrolling interests 30,867 25,940 Total equity 3,542,318 3,235,906 Total liabilities and equity $ 4,297,594 $ 3,733,029 5 MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Nine Months Ended (In thousands) September 26, 2026 September 27, 2025 Cash flows from operating activities Consolidated net income $ 715,993 $ 618,018 Reconciliation of consolidated net income to net cash provided by operating activities: Depreciation and amortization 55,160 51,635 Stock-based compensation expense 23,307 20,328 Provision for credit losses 802 67 Income from unconsolidated affiliates (8,723) (6,140) Dividends from unconsolidated affiliates 5,701 5,440 Insurance proceeds - noncapital related — 15,469 Loss (gain) on disposals of assets, net 1,720 (26,654) Gain on sale of business (41,407) — Unrealized gains on short-term investments (10,367) (5,925) Impairment charges 2,653 2,018 Gain on insurance proceeds (4,352) (41,147) Deferred income tax expense 17,282 10,627 Changes in assets and liabilities, net of effects of businesses acquired and sold: Receivables (253,596) (100,830) Inventories (95,916) (40,669) Other assets 3,466 (8,756) Current liabilities 219,818 120,796 Other liabilities 1,376 286 Other, net (3,952) (330) Net cash provided by operating activities $ 628,965 $ 614,233 Cash flows from investing activities Capital expenditures $ (60,764) $ (48,982) Acquisition of business, net of cash acquired (135,752) — Proceeds from sale of business, net of cash sold 57,004 — Insurance proceeds - capital related 4,352 4,531 Purchase of short-term investments — (26,633) Purchase of long-term investments (5,834) (781) Proceeds from sales of assets 62 38,478 Other — 600 Net cash used in investing activities $ (140,932) $ (32,787) 6 MUELLER INDUSTRIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) For the Nine Months Ended (In thousands) September 26, 2026 September 27, 2025 Cash flows from financing activities Dividends paid to stockholders of Mueller Industries, Inc. $ (113,869) $ (81,723) Repurchase of common stock (278,297) (243,615) Repayments of debt — (185) Net cash used to settle stock-based awards (24,882) (29,528) Dividends paid to noncontrolling interests (5,051) (12,240) Other 3,100 — Net cash used in financing activities $ (418,999) $ (367,291) Effect of exchange rate changes on cash (4,214) 9,836 Increase in cash, cash equivalents, and restricted cash 64,820 223,991 Cash, cash equivalents, and restricted cash at the beginning of the period 1,385,157 1,038,895 Cash, cash equivalents, and restricted cash at the end of the period $ 1,449,977 $ 1,262,886 7