MUELLER INDUSTRIES INC
For the period ended May 8, 2025. Filed Mar 27, 2025.
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May 8, 2025 · Filed Mar 27, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 14A
PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )
| Filed by the Registrant | Filed by a Party other than the Registrant |
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Preliminary Proxy Statement
Confidential, for Use of the Commission Only (as permitted by Rule 14A-6(E)(2))
Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material under §240.14a-12
MUELLER INDUSTRIES, INC.
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
RESULTS AT A GLANCE
| SUMMARY OF OPERATIONS | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| (Dollars in thousands except per share data) | ($) | ($) | ($) | ($) | ($) |
| Net sales | 3,768,766 | 3,420,345 | 3,982,455 | 3,769,345 | 2,398,043 |
| Operating income | 770,389 | 756,053 | 877,149 | 655,845 | 245,838 |
| Net income | 604,879 | 602,897 | 658,316 | 468,520 | 139,493 |
| Adjusted EBITDA(1) | 817,742 | 778,662 | 914,507 | 645,535 | 272,399 |
| Diluted earnings per share | 5.31 | 5.30 | 5.82 | 4.12 | 1.24 |
| Dividends per share | 0.80 | 0.60 | 0.50 | 0.26 | 0.20 |
| SUMMARY OF CASH FLOW | |||||
| Cash Flow from Operations | 645,908 | 672,766 | 723,943 | 311,701 | 245,073 |
| Capital Expenditures | 80,203 | 54,025 | 37,639 | 31,833 | 43,885 |
| Free-Cash Flow(2) | 565,705 | 618,741 | 686,304 | 279,868 | 201,188 |
| SIGNIFICANT YEAR-END DATA | |||||
| Cash, cash equivalents and ST investments | 1,059,103 | 1,269,039 | 678,881 | 87,924 | 119,075 |
| Total Assets | 3,290,906 | 2,759,301 | 2,242,399 | 1,728,936 | 1,528,568 |
| Total Debt | 1,094 | 981 | 2,029 | 1,875 | 327,876 |
| Ratio of current assets to current liabilities | 5.1 to 1 | 6.4 to 1 | 4.4 to 1 | 2.7 to 1 | 2.4 to 1 |
| Book value per share(3) | 24.38 | 20.48 | 15.71 | 10.67 | 6.81 |
2024 HIGHLIGHTS
| (1) | Adjusted EBITDA is a non-GAAP financial measure. See Appendix A for a reconciliation of Adjusted EBITDA to our results reported under GAAP. |
| (2) | Free cash flow is a non-GAAP financial measure, which represents cash flow from operations minus capital expenditures. Both cash flow from operations and capital expenditures presented above are as reported in the Company’s Annual Reports on Form 10-K for the years presented. |
| (3) | Adjusted for the two-for-one stock split that occurred on October 20, 2023. |
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