Mueller Industries eyes best day in over 2 years on upbeat Q2 results

Mueller Industries

19/07/2022 16:38

** Shares of industrial products maker Mueller Industries
 MLI.N  jump ~12.2% to $60.60 
    ** Stock hits highest levels since April; On track for
biggest one-day percentage gain since March 2020, if gains hold 
    ** Co reports Q2 net income of $206.6 million vs $108.8
million last year 
    ** "Our cash generation is strong, and we have zero net debt
along with a committed, untapped credit facility" - CEO Greg
Christopher
    ** MLI posts EPS of $3.65 in the quarter, compared to $1.92,
 a year earlier 
    ** Co says it is well-positioned to deal with short-term
challenges arising from rising interest rates, inflationary
pressures and continued geopolitical disruptions
    ** Including session's gains, stock up ~2% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))