Mueller Water Products, Inc. (MWA) Earnings
Mueller Water Products, Inc. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $0.39. MWA has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +12.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.38 | $0.40 | +5.3% | $384M | +1.0% |
| Feb 4, 2026 | $0.27 | $0.29 | +7.4% | $318M | +1.3% |
| Nov 6, 2025 | $0.34 | $0.38 | +11.8% | $381M | +20.1% |
| Feb 4, 2025 | $0.20 | $0.25 | +25.0% | $304M | +3.8% |
| Feb 8, 2024 | $0.09 | $0.13 | +44.4% | $256M | +2.3% |
| Dec 13, 2023 | $0.11 | $0.19 | +72.7% | $301M | +5.9% |
| Aug 3, 2023 | $0.20 | $0.18 | -10.0% | $327M | -6.1% |
| Feb 2, 2023 | $0.08 | $0.13 | +62.5% | $315M | +9.0% |
| Aug 4, 2022 | $0.20 | $0.19 | -5.0% | $333M | +0.9% |
| May 2, 2022 | $0.14 | $0.15 | +7.1% | $311M | +6.3% |
| Feb 3, 2022 | $0.08 | $0.13 | +62.5% | $272M | +7.5% |
| Aug 4, 2021 | $0.16 | $0.18 | +12.5% | $311M | +15.5% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Paul is pleased with strong performance this quarter, set new quarterly records for net sales, adjusted EBITDA, and adjusted net income per share. • Delivered net sales growth of 5.5%, expanded adjusted EBITDA margin 210 basis points. • Raising fiscal 2026 outlook for adjusted EBITDA. • Introduced Mueller Operating System focusing on engaged employees, enhancing customer experience, expanding margins by simplifying business, and accelerating growth through innovation, market expansion, and acquisitions. • Exited I2O pressure monitoring business outside of North America but plan to use the technology in North America.
Guidance
• Reiterating full-year guidance for consolidated net sales growth to be between 2.8% and 4.2% year-over-year. • Raising annual adjusted EBITDA guidance by $5 million, at the midpoint to a new range of $360 to $365 million, midpoint represents adjusted EBITDA margin of more than 24.5%, improvement of 170 basis points year over year. • Maintaining expectations for total SG&A expenses within updated guidance. • Reaffirming capital expenditure outlook of $60 to $65 million. • Expecting free cash flow to exceed 70% of adjusted net income for the full year.
Segment performance
WSS: Net sales increased 1% to $218.3 million, adjusted EBITDA grew 16.4% to $72.4 million, adjusted EBITDA margin expanded 440 basis points to 33.2%. WMS: Net sales increased 12.2% to $166.1 million, adjusted EBITDA in the quarter increased 11.5% to $40.6 million, adjusted EBITDA margin contracted 20 basis points to 24.4%.
Analyst Q&A
Q: Jeff Reeves with RBC Capital Markets asked about sell-in versus sell-out trends in the quarter across segments and inventory levels in the channel, and follow-up on WMS sales.
A: Paul responded on channel inventory being at normalized levels, backlog change seasonally, WMS sales driven by higher pricing and volume gains in hydrant and repair products with expected normalized growth.
Q: Brian Lee with Goldman Sachs asked about updated outlook, revenue guidance, impact of residential slowdown, and M&A in capital allocation strategy.
A: Paul talked about price realization, lap of tariff related price, resi slowdown being high single to low double digit, and increased activity in M&A for portfolio expansion.
Q: Walt Liptack with Seaport Research asked about free cash flow and residential sector.
A: Walt was told about second quarter free cash flow lower due to working capital and inventory, previously 85% now 70%, and investments in specially evolved business for industrial water growth.