Water infrastructure products manufacturer Mueller Water Products will be reporting earnings tomorrow after the bell. Here's what to expect.
Mueller Water Products beat analysts' revenue expectations by 18% last quarter, reporting revenues of $353.4 million, up 6.2% 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 be flat year on year at $329.7 million, improving from the 2% 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% on average.
Looking at Mueller Water Products's peers in the industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Xylem delivered year-on-year revenue growth of 26%, beating analysts' expectations by 1.2%, and Arrow Electronics reported a revenue decline of 19%, topping estimates by 5.7%. Xylem traded down 5.7% following the results while Arrow Electronics was up 1.7%.
Read our full analysis of Xylem's results here and Arrow Electronics's results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 2.4% on average over the last month. Mueller Water Products is up 6.7% during the same time and is heading into earnings with an average analyst price target of $21.3 (compared to the current share price of $19.64).
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