Water infrastructure products manufacturer Mueller Water Products will be announcing earnings results tomorrow afternoon. Here’s what you need to know.
Mueller Water Products beat analysts’ revenue expectations by 5.4% last quarter, reporting revenues of $304.3 million, up 18.7% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Mueller Water Products a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Mueller Water Products’s revenue to be flat year on year at $354 million, slowing from the 6.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mueller Water Products has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Mueller Water Products’s peers in the industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Xylem delivered year-on-year revenue growth of 1.8%, beating analysts’ expectations by 1.5%, and Tennant reported a revenue decline of 6.8%, falling short of estimates by 2.2%. Xylem traded up 4.1% following the results while Tennant was down 3.8%.
Read our full analysis of Xylem’s results here and Tennant’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 13% on average over the last month. Mueller Water Products is up 19.2% during the same time and is heading into earnings with an average analyst price target of $28.67 (compared to the current share price of $27.21).
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