木勒工业 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March28, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from ______ to ______Commission file number 1-6770 MUELLER INDUSTRIES INC.(Exact name of registrant as specified in its charter) 25-0790410 Delaware (I.R.S. Employer Identification No.) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company.See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ The number of shares of the Registrant’s common stock outstanding as of April17, 2026 was 110,570,613. MUELLER INDUSTRIES, INC. FORM 10-Q For the Quarterly Period Ended March28, 2026 As used in this report, the terms “Company,” “Mueller,” and “Registrant” mean Mueller Industries, Inc. and its consolidatedsubsidiaries taken as a whole, unless the context indicates otherwise. INDEX Page Number Part I.Financial Information Item 1.– Financial Statements (Unaudited)a.)Condensed Consolidated Statements of Income3b.)Condensed Consolidated Statements of Comprehensive Income4c.)Condensed Consolidated Balance Sheets5d.)Condensed Consolidated Statements of Cash Flows7e.)Condensed Consolidated Statements of Changes in Equity9f.)Notes to Condensed Consolidated Financial Statements11Item 2.– Management's Discussion and Analysis of Financial Condition and Results of Operations25Item 3.– Quantitative and Qualitative Disclosures About Market Risk33Item 4.– Controls andProcedures35Part II.Other InformationItem 1.– Legal Proceedings35Item 1A. – Risk Factors35Item 2.– Unregistered Sales of Equity Securities and Use of Proceeds36Item 5.– Other Information36Item 6.– Exhibits37Signatures38 MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF INCOME(Unaudited) MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited) For the Quarter EndedMarch 28, 2026March 29, 2025 MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) Assets Current assets:Cash and cash equivalents$1,382,345$1,367,003Short-term investments20,69622,733Accounts receivable, less allowance for credit losses of $3,651 in 2026 and $2,545 in 2025670,511475,566Inventories545,451510,463Other current assets53,03769,980 MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED BALANCE SHEETS Liabilities MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) For the Quarter EndedMarch 28, 2026March 29, 2025 (In thousands) Cash flows from operating activitiesConsolidated net income MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Cash flows from financing activitiesDividends paid to stockholders of Mueller Industries, Inc.$(38,043)$(27,262)Dividends paid to noncontrolling interests(4,766)(12,240)Repurchase of common stock(74,981)(243,615)Repayments of debt—(56)Net cash used to settle stock-based awards(535)(4,494)Other3,100— MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY(Unaudited) For the Quarter EndedMarch 28, 2026March 29, 2025 Balance at beginning of period$345,033$330,532Exercise of stock options, net of shares withheld(10)763Stock-based compensation expense7,3326,150Issuance of restricted stock(52)—Transactions with noncontrolling interests420— MUELLER INDUSTRIES, INC.CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY(Unaudited) For the Quarter EndedMarch 28, 2026March 29, 2025 Treasury stock:Balance