Filing Flows › Mueller Industries (MLI) › Q3 2026 › vs Q2 2026
Mueller Industries (MLI) Q3 2026 vs Q2 2026 (quarter over quarter)
Mueller Industries's revenue fell $9.3M (-0.7%) from $1.4B in Q2 2026 to $1.4B in Q3 2026. The biggest changes: Piping Systems −$59.5M (-6%); Industrial Metals +$53.6M (+15%); Climate −$3.4M (-2%). Operating margin 19.8% against 21.7% (-1.9 pts).
Mueller Industries, Q3 2026: revenue $1.4B (+32% year over year), operating margin 19.8%, net earnings $221M, operating cash flow $337M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 19.8% | 21.7% | -1.9 pts |
| Net margin | 15.6% | 17.5% | -1.9 pts |
| Free cash flow margin | 22.2% | 13.4% | +8.8 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Piping Systems | $876M | $936M | −$59.5M | -6% |
| Industrial Metals | $403M | $349M | $53.6M | +15% |
| Climate | $140M | $143M | −$3.4M | -2% |
| Revenue | $1.4B | $1.4B | −$9.3M | -0.7% |
| Other income, net | $19.4M | $23.2M | −$3.8M | -17% |
| Operating profit | $282M | $310M | −$28.4M | -9% |
| Costs & expenses | $1.1B | $1.1B | $19.1M | +2% |
| Pre-tax earnings | $301M | $333M | −$32.2M | -10% |
| Cost of revenue | $1.1B | $1.0B | $24.6M | +2% |
| SG&A | $63.0M | $67.8M | −$4.8M | -7% |
| Other operating costs | $16.8M | $17.5M | −$701K | -4% |
| Net earnings | $221M | $250M | −$28.5M | -11% |
| Minority interests | $3.1M | $632K | $2.5M | +393% |
| Income tax | $76.6M | $82.9M | −$6.3M | -8% |
| Depreciation | $21.2M | $17.3M | $3.8M | +22% |
| Share-based compensation | $7.5M | $8.5M | −$1.1M | -12% |
| Working capital & other | $87.1M | −$63.2M | $150M | — |
| Operating cash flow | $337M | $212M | $125M | +59% |
| Free cash flow (OCF − capex) | $315M | $191M | $124M | +65% |
| Capital expenditures | $22.0M | $21.6M | $408K | +2% |
Questions
How much did Mueller Industries's revenue grow quarter over quarter in Q3 2026?
Mueller Industries's revenue fell $9.3M (-0.7%) from $1.4B in Q2 2026 to $1.4B in Q3 2026.
What drove Mueller Industries's revenue change in Q3 2026?
Piping Systems −$59.5M (-6%); Industrial Metals +$53.6M (+15%); Climate −$3.4M (-2%).