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Mueller Industries (MLI) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 21, 2026 · Mueller Industries (MLI) Q3 2026 earnings results →

Q3 2026 Revenue up 32% year over year to $1.4B · 16¢ of every $1 of revenue kept as net profit · operating margin 19.8%

Mueller Industries made $1.4B in Q3 2026 (+32% Y/Y): Piping Systems $876M, Industrial Metals $403M, Climate $140M. Operating margin 19.8%, net earnings $221M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 21, 2026.

Revenue$1.4B

Year over year+32%

Operating margin19.8%

Net earnings$221M

Operating cash flow$337M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.4B in Q3 2026, up 32% year over year and down 1% from the previous quarter. Piping Systems was the largest line at 62% of revenue. Piping Systems added $0.17B year over year (up 23%), 49% of the total change.

Operating profit was $0.28B, a 19.8% margin (down 5.8 points year over year). Of the extra revenue versus Q3 2025, 2% reached operating profit, below the 26% margin then. Total costs grew 42% against revenue growth of 32%. The fastest-growing cost line was Cost of revenue (+43%). Net earnings were $0.22B, up 6% year over year. The effective tax rate was 25.5%.

Operating cash flow was $0.34B (up 9% year over year), 150% of net earnings. Non-cash charges added back $0.02B of depreciation and $0.01B of share-based compensation. Working capital and other items added $0.08B. Capital expenditures of $0.02B left free cash flow of $0.31B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Oct 21, 2026	$1.4B	+32%	19.8%	$221M	$337M
Q2 2026	10-Q	Jul 22, 2026	$1.4B	+26%	21.7%	$250M	$212M
Q1 2026	10-Q	Apr 22, 2026	$1.2B	+19%	26.2%	$239M	$79.7M
Q4 2025	10-K	Feb 25, 2026	$962M	+4%	17.9%	$154M	$141M
Q3 2025	10-Q	Oct 22, 2025	$1.1B	+8%	25.6%	$208M	$310M
Q2 2025	10-Q	Jul 23, 2025	$1.1B	+14%	26.7%	$246M	$191M
Q1 2025	10-Q	Apr 23, 2025	$1.0B	+18%	20.6%	$157M	$114M

Charts

Latest (Q3 2026): Y/Y +32%, Q/Q -1%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $224M, Operating cash flow $337M.

-1.1% since FY2020: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY2021.

Rolling Drawing & Extruding of Nonferrous Metals; dot size is quarterly revenue; dashed lines are the industry's medians.