Mueller Water Products reported consolidated net sales of $384.4 million [3] for the second quarter ended March 2026.
These results signal the company's ability to scale revenue and improve margins through operational efficiency during a period of infrastructure demand. The growth reflects a trend of increased spending on water distribution systems.
CEO Paul McAndrew said, "The quarter set new quarterly records for net sales, adjusted EBITDA and adjusted net income per share" [1]. Net sales grew 5.5% [4] year-over-year, while the company reported earnings per share of $0.40 [7]. This figure represents an increase from the $0.34 per share reported in the prior year [8].
Financial metrics for the quarter included a gross profit of $144.5 million [5]. The gross margin reached 37.6%, an increase of 250 basis points [6]. McAndrew said the company achieved an adjusted EBITDA margin improvement of 210 basis points year-over-year [2].
Analysts said the company exceeded expectations in both revenue and earnings. Reports indicate a revenue surprise of 1.65% [9], while earnings surprises ranged from approximately 5.3% to 6.67% [10]. The company attributed these gains to manufacturing efficiencies, cost management, and operational excellence [11].
Looking forward, Mueller Water Products provided a forecast for fiscal 2026. The company expects adjusted EBITDA to fall between $360 million and $365 million [1]. Additionally, the company expects free cash flow to exceed 70% of adjusted net income [1].
“The quarter set new quarterly records for net sales, adjusted EBITDA and adjusted net income per share.”
Mueller Water Products is leveraging operational efficiencies to convert increased sales into higher profit margins. By forecasting strong free cash flow and adjusted EBITDA for the remainder of fiscal 2026, the company is positioning itself as a stable beneficiary of ongoing water infrastructure modernization.
