Mueller Drops 6% On Lower Earnings, Revenue
Shares of Mueller Industries, Inc. (MLI), a maker of copper, brass, aluminum, and plastic products, are falling more than 6% Tuesday morning after reporting lower earnings, revenue in the second quarter.
Net income for the second quarter declined to $177.71 million or $3.12 per share from $206.55 million or $3.65 per share a year ago.
Sales for the quarter decreased to $896.98 million from $1.15 billion in the same quarter a year ago.
MLI is at $86.25 currently. It has traded in the range of $57.10 – $91.93 in the last 52 weeks.
Source: Read Full Article