Filing Flows › Mueller Industries (MLI) › Q1 2026
Mueller Industries (MLI) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 22, 2026
Mueller Industries (MLI) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), +19% from a year earlier and +24% from the quarter before. Operating margin was 26.2%, net earnings $239M (20.0% of revenue).
Mueller Industries, Q1 2026: revenue $1.2B (+19% year over year), operating margin 26.2%, net earnings $239M, operating cash flow $79.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +24% | +19% |
| Operating profit | $312M | +82% | +51% |
| Net earnings | $239M | +55% | +52% |
| Operating cash flow | $79.7M | -44% | -30% |
| Free cash flow | $62.5M | -49% | -36% |
What changed
Revenue was $1.2B in Q1 2026, up 19% year over year and up 24% from the previous quarter. Piping Systems was the largest line at 63% of revenue. Piping Systems added $0.12B year over year (up 20%), 64% of the total change.
Operating profit was $0.31B, a 26.2% margin (up 5.5 points year over year). Of the extra revenue versus Q1 2025, 55% reached operating profit, above the 21% margin then. Total costs grew 11% against revenue growth of 19%. Net earnings were $0.24B, up 52% year over year. The effective tax rate was 24.8%.
Operating cash flow was $0.08B (down 30% year over year), 33% of net earnings. Non-cash charges added back $0.02B of depreciation and $0.01B of share-based compensation. Working capital and other items used $0.19B. Capital expenditures of $0.02B left free cash flow of $0.06B.
Questions
What was Mueller Industries' revenue in the first quarter 2026?
Mueller Industries (MLI) reported revenue of $1.2B for the first quarter 2026 (Q1 2026), +19% from a year earlier and +24% from the quarter before.
Was Mueller Industries profitable in the first quarter 2026?
Operating profit was $312M (26.2% of revenue) and net earnings $239M.
Source: Mueller Industries 10-Q on SEC EDGAR.