Key Takeaways
- Mueller Water Products (NYSE: MWA) reported fiscal 2026 third-quarter net sales of $395.9 million, up 4.1% year over year.
- Net income rose to $67.3 million from $52.5 million, a 17.0% net income margin.
- Diluted earnings per share were $0.43, with adjusted earnings of $0.50 per diluted share.
- The company set quarterly records for net sales, adjusted EBITDA and adjusted earnings per share.
- Mueller raised its full-year 2026 adjusted EBITDA outlook to between $367 million and $372 million.
Mueller Water Products Reports Record Third-Quarter Results
Mueller Water Products (NYSE: MWA), a maker of products and services for water infrastructure, reported fiscal 2026 third-quarter net sales of $395.9 million, up 4.1% from $380.3 million a year earlier. The company said it set quarterly records for net sales, adjusted EBITDA and adjusted earnings per diluted share. Its valves, hydrants and metering systems sit at the core of how utilities move and measure drinking water.
“Our outstanding third quarter results reflect strong execution across the business and continued progress against our operating priorities, despite a dynamic operating environment,” said Paul McAndrew, president and chief executive of Mueller Water Products. “We delivered quarterly records for net sales, adjusted EBITDA and adjusted net income per diluted share, while expanding our adjusted EBITDA margin 440 basis points year-over-year.”
Stronger Margins and Earnings
Net income rose to $67.3 million from $52.5 million in the prior-year quarter, giving a net income margin of 17.0%. Diluted earnings per share were $0.43, while adjusted earnings were $0.50 per diluted share. Mueller Water Products expanded its adjusted EBITDA margin by 440 basis points year over year, a sign that pricing and cost actions are flowing through to profit.
Mueller Water Products Lifts Its Outlook
The company raised its full-year 2026 adjusted EBITDA expectation to between $367 million and $372 million, an increase of 12.5% to 14.0% over the prior year, and narrowed its net sales outlook to between $1.47 billion and $1.48 billion. The higher outlook reflects the margin gains posted through the first three quarters and steady demand from utility customers.
Demand for Water Infrastructure
The record quarter points to steady demand for the pipes, valves and metering products that utilities use to manage and monitor water systems. With aging pipe networks and tighter leak-management rules, spending on water infrastructure has held up, and Mueller Water Products’ results add to a run of growth for the supplier.
