Water infrastructure products manufacturer Mueller Water Products will be reporting results tomorrow after the bell. Here’s what you need to know.
Mueller Water Products beat analysts’ revenue expectations by 8.2% last quarter, reporting revenues of $356.7 million, up 9.2% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ organic revenue and earnings estimates.
Is Mueller Water Products a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Mueller Water Products’s revenue to grow 8.5% year on year to $326.9 million, a reversal from the 9.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.22 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mueller Water Products has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4.9% on average.
Looking at Mueller Water Products’s peers in the water infrastructure segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Energy Recovery delivered year-on-year revenue growth of 4.2%, missing analysts’ expectations by 1.4%, and Watts Water Technologies reported revenues up 7.8%, in line with consensus estimates. Energy Recovery’s stock price was unchanged after the results, and Watts Water Technologies’s price followed a similar reaction.
Read our full analysis of Energy Recovery’s results here and Watts Water Technologies’s results here.
Investors in the water infrastructure segment have had steady hands going into earnings, with share prices flat over the last month. Mueller Water Products is down 3.2% during the same time and is heading into earnings with an average analyst price target of $23.67 (compared to the current share price of $22.05).
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