Filing Flows › Mueller Industries (MLI) › Q2 2026 › vs Q2 2025
Mueller Industries (MLI) Q2 2026 vs Q2 2025 (year over year)
Mueller Industries's revenue rose $290M (+25%) from $1.1B in Q2 2025 to $1.4B in Q2 2026. The biggest changes: Piping Systems +$200M (+27%); Industrial Metals +$83.4M (+31%); Climate +$6.0M (+4%). Operating margin 21.7% against 26.7% (-5.0 pts).
Mueller Industries, Q2 2026: revenue $1.4B (+26% year over year), operating margin 21.7%, net earnings $250M, operating cash flow $212M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 21.7% | 26.7% | -5.0 pts |
| Net margin | 17.5% | 21.6% | -4.1 pts |
| Free cash flow margin | 13.4% | 15.5% | -2.2 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Piping Systems | $936M | $735M | $200M | +27% |
| Industrial Metals | $349M | $266M | $83.4M | +31% |
| Climate | $143M | $137M | $6.0M | +4% |
| Revenue | $1.4B | $1.1B | $290M | +25% |
| Other income, net | $23.2M | $23.2M | $10K | 0% |
| Operating profit | $310M | $304M | $5.8M | +2% |
| Costs & expenses | $1.1B | $834M | $284M | +34% |
| Pre-tax earnings | $333M | $327M | $5.8M | +2% |
| Net earnings | $250M | $246M | $3.7M | +2% |
| Minority interests | $632K | $2.6M | −$1.9M | -75% |
| Income tax | $82.9M | $78.9M | $4.0M | +5% |
| Depreciation | $17.3M | $17.9M | −$570K | -3% |
| Share-based compensation | $8.5M | $7.8M | $724K | +9% |
| Working capital & other | $63.2M | $81.0M | −$17.8M | -22% |
| Operating cash flow | $212M | $191M | $21.7M | +11% |
| Free cash flow (OCF − capex) | $191M | $177M | $14.2M | +8% |
| Capital expenditures | $21.6M | $14.1M | $7.5M | +53% |
Questions
How much did Mueller Industries's revenue grow year over year in Q2 2026?
Mueller Industries's revenue rose $290M (+25%) from $1.1B in Q2 2025 to $1.4B in Q2 2026.
What drove Mueller Industries's revenue change in Q2 2026?
Piping Systems +$200M (+27%); Industrial Metals +$83.4M (+31%); Climate +$6.0M (+4%).