Mueller Industries (MLI) Q3 FY2026 earnings: revenue $1.4 billion, up 31.6% on the year

Mueller Industries Inc. (MLI) reported revenue of $1.4 billion for Q3 FY2026, the quarter ended 26 September 2026, up 31.6% on the same quarter a year earlier. Net income was $221 million, up 6.3% on the year, and diluted earnings per share $1.00. The figures are the company's own, from the 10-Q it filed with the SEC on 21 October 2026.

Revenue$1.4 billionup 31.6%

Net income$221 millionup 6.3%

Diluted EPS$1.00

QuarterQ3 FY2026ended 26 September 2026

What management said

Net sales rose on volume and price: Net sales were $1.42 billion versus $1.08 billion, slightly below the second quarter's $1.43 billion. Management attributed the increase to unit volume growth and price adjustments.
Net income and diluted EPS higher: Net income attributable to Mueller was $221.2 million versus $208.1 million. Diluted EPS was $1.00 versus $0.94, adjusted for the June 30, 2026 two-for-one stock split.
Industrial Metals sales up 64 percent: Industrial Metals sales were $409.4 million versus $248.9 million, with operating income of $33.7 million versus $30.9 million. Second-quarter sales were $355.0 million.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	1,419	1,428	1,078	+31.6%
Cost of revenue	1,057	1,033	738	+43.2%
Gross profit	361	395	340	+6.4%
Gross margin	25.5%	27.7%	31.5%
Selling, general and administrative	63.0	67.8	61.7	+2.3%
Operating income	282	310	276	+2.0%
Operating margin	19.8%	21.7%	25.6%
Interest expense	0.1	0.1	0.0	+2166.7%
Pre-tax income	299	326	280	+6.7%
Income tax	76.6	82.9	73.9	+3.7%
Effective tax rate	25.6%	25.4%	26.4%
Net income	221	250	208	+6.3%
Net margin	15.6%	17.5%	19.3%
Diluted EPS	$1.00	$1.13	$0.94	+6.4%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Operating cash flow	337	212	310	+8.7%
Capital expenditure	22.0	21.6	18.3	+20.1%
Free cash flow	315	191	292	+8.0%
Free cash flow margin	22.2%	13.4%	27.1%
Cash from investing	-15.1	-165	0.7	n/a
Cash from financing	-264	-39.7	-52.7	n/a
Depreciation and amortisation	21.2	17.3	16.6	+27.5%
Share-based compensation	7.5	8.5	6.4	+16.8%
Buybacks	202	1.5	0.0	n/a
Dividends paid	37.8	38.1	27.3	+38.2%
Dividend per share	$0.17	$0.17	$0.12	+40.0%
Diluted shares, weighted	220m	221m	222m	-0.8%
Shares outstanding at period end	218m	221m	222m	-1.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Shareholders' equity	3,511	3,548	3,070	+14.4%
Non-controlling interest	30.9	26.3	25.7	+20.3%
Debt	5.2	5.2	0.0	n/a
Operating lease liabilities	13.1	11.9	20.6	-36.3%
Other liabilities	737	666	580	+27.0%
Total liabilities and equity	4,298	4,257	3,696	+16.3%
Fixed assets	603	557	531	+13.6%
Goodwill	308	413	298	+3.5%
Intangible assets	343	276	292	+17.3%
Investments	33.1	27.2	54.4	-39.2%
Cash and equivalents	1,448	1,389	1,261	+14.8%
Receivables	724	762	557	+30.1%
Inventory	621	608	510	+21.8%
Other assets	218	225	194	+12.4%
Total assets	4,298	4,257	3,696	+16.3%

Questions

What was Mueller Industries' revenue in Q3 FY2026?

Mueller Industries (MLI) reported revenue of $1.4 billion for Q3 FY2026, the quarter ended 26 September 2026, up 31.6% on the same quarter a year earlier.

How much did Mueller Industries earn in Q3 FY2026?

Net income for Q3 FY2026 was $221 million, up 6.3% on the year, and diluted earnings per share $1.00.

When did Mueller Industries report Q3 FY2026 results?

Mueller Industries filed its 10-Q for the quarter ended 26 September 2026 with the SEC on 21 October 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	956	1,010	1,150	945	878	971	897	820	732	850	998	998	924	1,000	1,138	1,078	962	1,193	1,428	1,419
Cost of revenue	727	745	821	679	621	679	639	579	536	609	725	722	668	728	785	738	715	835	1,033	1,057
Gross profit	230	265	329	266	257	292	258	241	196	241	273	275	255	272	353	340	248	358	395	361
Gross margin	24%	26%	29%	28%	29%	30%	29%	29%	27%	28%	27%	28%	28%	27%	31%	32%	26%	30%	28%	25%
SG&A	46.2	47.5	49.0	50.2	56.5	52.6	56.1	48.3	51.2	48.4	52.7	59.6	66.0	63.1	67.5	61.7	56.4	66.8	67.8	63.0
Operating income	172	213	269	205	190	229	211	181	135	183	210	207	170	206	304	276	172	312	310	282
Operating margin	18%	21%	23%	22%	22%	24%	23%	22%	18%	22%	21%	21%	18%	21%	27%	26%	18%	26%	22%	20%
Interest expense	0.3	0.2	0.1	0.4	0.1	0.1	0.1	0.2	0.7	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.1	0.0	0.1	0.1
Pre-tax income	172	213	271	206	186	237	241	189	178	202	223	218	178	211	324	280	196	321	326	299
Tax rate	26%	25%	25%	25%	27%	26%	26%	27%	26%	26%	26%	23%	26%	24%	24%	26%	22%	25%	25%	26%
Net income	126	158	207	155	139	173	178	133	119	138	160	169	138	157	246	208	154	239	250	221
Net margin	13%	16%	18%	16%	16%	18%	20%	16%	16%	16%	16%	17%	15%	16%	22%	19%	16%	20%	17%	16%
Diluted EPS	$0.55	$0.69	$0.91	$0.69	$0.61	$0.77	$0.78	$0.58	$0.53	$0.60	$0.70	$0.74	$0.60	$0.69	$1.11	$0.94	$0.69	$1.08	$1.13	$1.00
Operating cash flow	130	62.9	142	312	207	112	139	248	174	174	101	231	140	114	191	310	141	79.7	212	337
Capital expenditure	6.3	5.3	18.0	6.3	8.1	7.6	21.7	10.2	14.6	16.4	9.2	25.7	28.9	16.6	14.1	18.3	19.8	17.2	21.6	22.0
Free cash flow	124	57.6	124	306	199	104	118	237	160	157	91.6	206	111	97.0	177	292	121	62.5	191	315
Buybacks	4.9	4.0	29.5	4.6	0.0	0.0	19.3	0.0	0.0	27.9	15.1	5.7	0.0	244	0.0	0.0	0.0	75.0	1.5	202
Dividends paid	n/a	0.0	28.0	13.9	13.9	16.7	16.7	16.7	16.7	22.3	22.2	22.3	22.3	27.3	27.1	27.3	27.3	38.0	38.1	37.8
Shares outstanding	229m	229m	227m	227m	228m	228m	227m	227m	228m	227m	227m	227m	228m	221m	221m	222m	222m	221m	221m	218m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 26 September 2026, filed 21 October 2026: the filing.