Q4 2024 Mueller Water Products Inc Earnings Call Transcript
Key Points
- Mueller Water Products Inc (MWA) reported a double-digit year-over-year increase in consolidated net sales for the fourth quarter, driven by healthy order levels and steady market demand.
- The company achieved record levels for net sales, gross margin, adjusted EBITDA, adjusted net income per diluted share, and free cash flow in fiscal 2024.
- Mueller Water Products Inc (MWA) increased its full-year consolidated gross and adjusted EBITDA margins by more than 500 basis points year-over-year, supported by improved manufacturing performance and favorable price/cost dynamics.
- The company successfully reduced lead times and improved customer service, contributing to its strong financial performance.
- Mueller Water Products Inc (MWA) has a strong and flexible balance sheet with ample liquidity, allowing for strategic investments and shareholder returns, including share repurchases and dividends.
- The company faces challenges from the Israel-Hamas conflict, impacting its operations in Israel and potentially affecting supply chain and production capabilities.
- Mueller Water Products Inc (MWA) anticipates headwinds in fiscal 2025, particularly in the first half, due to higher costs associated with repair products and the closure of its legacy brass foundry.
- The company reported a $16.3 million non-cash goodwill impairment charge related to lower forecasted revenues in its applications product lines, particularly in technology-related products like meters.
- Mueller Water Products Inc (MWA) expects minimal impact from the federal infrastructure bill in its fiscal 2025 guidance, indicating potential delays in realizing benefits from government spending.
- The company faces ongoing inflationary pressures and higher incentive costs, which have contributed to increased SG&A expenses.
Good morning and thank you for standing by. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time. It is now my pleasure to turn the call over to Whit Kincaid. Thank you may begin.
Good morning everyone. Thank you for joining us on your water products. Fourth quarter and fiscal 2024 conference call. Yesterday afternoon, we issued our press release, reporting results of operations for the quarter and year ended, September 30th 2024.
A copy of the press release is available on our website, new Awater products dotcom.
I am joined this morning by Marty Zakas, our Chief Executive Officer, Paul mcandrew, our President and Chief Operating Officer and Steve Heinrichs, our Chief Financial Officer and Chief Legal Officer.
Following our prepared remarks. We will address questions related to the information covered on this call.
As a reminder, please keep to one
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