Mueller Industries Q3 2026: Revenue Surges 31.6% but EPS Disappoints
As seen on the 24/7 Wall St. homepage on October 20, 2026.
Data center and commercial construction demand pushed sales 31.6% higher than a year ago, with backlogs growing in all three segments. Earnings still fell short of estimates, weighed down by $9.4 million in purchase accounting charges from recent acquisitions.
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Mueller Industries posted Q3 2026 net sales of $1.42 billion, beating expectations on unit volume gains and price adjustments tied to surging copper costs.
GAAP diluted EPS of $1.00 came in missing expectations, largely tied to purchase accounting charges from recent acquisitions, even as the underlying business expanded across all three segments.
The Piping Systems segment led the quarter, with net sales rising to $890.61 million from $718.40 million a year ago. CEO Greg Christopher noted that backlogs grew in each segment, driven primarily by U.S. data center expansions and broader commercial construction activity.
The EPS miss continues a pattern of inconsistency on the earnings line even as the revenue story strengthens. The company also repurchased 3.2 million shares during the quarter for $201.9 million.
Management pointed to investments in North American manufacturing, expanded product offerings, and distribution improvements as priorities heading into the end of 2026. Christopher flagged an additional tailwind when the residential construction market, which he described as in a protracted decline, eventually recovers.
Mentioned: MLI