Mueller Water reports Q4 adjusted EPS 19c, consensus 14c

Reports Q4 revenue $301.4M, consensus $284.73M. “Our team members executed well to finish fiscal 2023 despite a challenging external environment as we increased consolidated net sales and margins and improved cash flow relative to the prior year. Fourth quarter net sales exceeded our August expectations with a 350 basis point year-over-year improvement in gross margin resulting from continued price realization benefits, more moderate inflationary pressures and improved execution by our operations and supply chain teams. Coupled with lower SG&A spending, primarily driven by our previously announced cost actions, our improved gross margin led to the highest quarterly adjusted EBITDA margin in more than two years,” said Martie Edmunds Zakas, CEO of Mueller Water Products.