Brief: Mueller Industries Does Not Intend To Suspend Or Reduce Q2 Dividend

Mueller Industries

21/04/2020 12:19

April 21 (Reuters) - Mueller Industries Inc  MLI.N :
    * MUELLER INDUSTRIES, INC. REPORTS FIRST QUARTER 2020
EARNINGS
    * Q1 EARNINGS PER SHARE $0.57
    * Q1 REVENUE $602.9 MILLION
    * AVERAGE COMEX COPPER TRADED 9 PERCENT LOWER IN Q1 OF 2020
VERSUS
PRIOR YEAR PERIOD
    * MUELLER INDUSTRIES - DURING QUARTER, COMEX COPPER DECLINED
64
CENTS PER POUND, OR 22 PERCENT, WITH 40 CENTS OF THAT DECLINE
OCCURRING IN MARCH
    * 67 OF CO'S 68 LOCATIONS ACROSS THREE CONTINENTS HAVE
REMAINED
OPEN
    * HAD JUST ONE TEMPORARY CLOSURE DUE TO A CONFIRMED CASE OF
COVID-19
    * MUELLER INDUSTRIES - 2020 WAS OFF TO A STRONG START, WITH
SOFTENING IN DEMAND RELATED TO VIRUS HITTING US DURING LATTER
HALF OF MARCH
    * MUELLER INDUSTRIES - ANTICIPATE APRIL,MAY COULD BE OFF
30%- 40%,
WITH REVERSAL DEPENDING UPON TIMING,PROGRESS OF REOPENING OF
ECONOMY
    * DO NOT INTEND TO SUSPEND OR REDUCE OUR Q2 DIVIDEND

Source text for Eikon:  ID:nBw9dKnCNa 
Further company coverage:  MLI.N 

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