Mueller Water Products · NYSE:MWA

Mueller Water Products — Q3 2015 Earnings Presentation

16 slides from Mueller Water Products's earnings presentation, Jul 31, 2015

  1. Slide 1: Earnings Conference Call for the Third Quarter Ended June 30, 2015

    Where Intelligence Meets Infrastructure® Earnings Conference Call For The Third Quarter Ended June 30, 2015 July 31, 2015 These slides are not intended to be a stand-alone presentation, but are for use in conjunction with the earnings call

  2. Slide 2: Non-GAAP Financial Measures

    NON-GAAP FINANCIAL MEASURES The Company reports its financial results under accounting These items are excluded because they are not principles generally accepted in the United States (“GAAP”), considered indicative of recurring operations. Free as well as through the use of non-GAAP measures. The c

  3. Slide 3: Forward-Looking Statements

    FORWARD-LOOKING STATEMENTS This presentation contains certain statements that may be Forward-looking statements are based on certain deemed “forward-looking statements” within the meaning assumptions and assessments made by us in light of our of the Private Securities Litigation Reform Act of 1995.

  4. Slide 4: Consolidated Non-GAAP Results

    CONSOLIDATED NON-GAAP RESULTS Net sales impacted by above-average rainfall primarily in Texas, Colorado, and 3Q FISCAL 2015 2014 parts of the Midwest Net sales $301.0 $318.5 Adjusted EBITDA margin for the 2015 Adj. operating income $43.3 $42.0 third quarter improved 160 basis points to 19.2 percent

  5. Slide 5: Consolidated GAAP Results

    CONSOLIDATED GAAP RESULTS Gross profit • Gross margin for the 2015 third quarter improved to 32.0 percent compared with 3Q FISCAL 2015 2014 30.5 percent in the 2014 third quarter • Gross margin at Mueller Co.'s base Net sales $301.0 $318.5 business improved 260 basis points year- over-year Gross pro

  6. Slide 6: Consolidated Non-GAAP Results

    CONSOLIDATED NON-GAAP RESULTS Adjusted operating income increased 3.1 percent to $43.3 million compared with $42.0 million in prior year 3Q FISCAL 2015 2014 Adjusted operating margin improved 120 Adj. operating income $43.3 $42.0 basis points to 14.4 percent Adj. operating margin 14.4% 13.2% Adjuste

  7. Slide 7: Mueller Co. Segment Non-GAAP Results

    MUELLER CO. SEGMENT NON-GAAP RESULTS Net sales • We experienced nice net sales growth at Mueller Co. 3Q FISCAL 2015 2014 with brass products, Pratt and gas businesses, and exports outside North America Net sales $211.8 $214.0 • Domestic net sales of our valves and hydrants were essentially flat, lar

  8. Slide 8: Anvil Segment Non-GAAP Results

    ANVIL SEGMENT NON-GAAP RESULTS Net sales • Net sales decreased $15.3 million to 3Q FISCAL 2015 2014 $89.2 million compared with $104.5 million in prior year Net sales $89.2 $104.5 • Net sales decreased largely due to Adj. operating income $7.2 $9.5 lower sales of oil & gas related products Adj. oper

  9. Slide 9: Net Debt

    NET DEBT $700 $ in millions $600.8 $600 $497.2 June 30, $150.9 $500 2015 $61.4 ($ in millions) $400 ABL Revolver (LIBOR + 175 basis points) $0.0 $300 Term Loan B (LIBOR* + 325 basis points) 495.2 $435.8 $449.9 $200 Other 2.0 $100 Total Debt $497.2 $0 6/30/2015 6/30/2014 Cash Net Debt Net debt levera

  10. Slide 10: Third Quarter Comments and Fourth Quarter Outlook

    Third Quarter Comments and Fourth Quarter Outlook

  11. Slide 11: Supplemental Data

    Supplemental Data

  12. Slide 12: Segment Results and Reconciliation of GAAP to Non-GAAP Performance Measures

    SEGMENT RESULTS AND RECONCILIATION OF GAAP TO NON-GAAP PERFORMANCE MEASURES Quarter ended June 30, 2015 ($ in millions, except per share amounts) Mueller Co. Anvil Corporate Total (in millions, except per share amounts) GAAP Results: Net sales $ 211.8 $ 89.2 $ — $ 301.0 Gross profit $ 72.2 $ 24.0 $

  13. Slide 13: Segment Results and Reconciliation of GAAP to Non-GAAP Performance Measures

    SEGMENT RESULTS AND RECONCILIATION OF GAAP TO NON-GAAP PERFORMANCE MEASURES Quarter ended June 30, 2014 ($ in millions, except per share amounts) Mueller Co. Anvil Corporate Total (in millions, except per share amounts) GAAP results: Net sales $ 214.0 $ 104.5 $ — $ 318.5 Gross profit $ 70.1 $ 27.2 $

  14. Slide 14: Segment Results and Reconciliation of GAAP to Non-GAAP Performance Measures

    SEGMENT RESULTS AND RECONCILIATION OF GAAP TO NON-GAAP PERFORMANCE MEASURES ($ in millions, except per share amounts) Nine months ended June 30, 2015 Mueller Co. Anvil Corporate Total (in millions, except per share amounts) GAAP Results: Net sales $ 575.7 $ 277.4 $ — $ 853.1 Gross profit $ 174.0 $ 7

  15. Slide 15: Segment Results and Reconciliation of GAAP to Non-GAAP Performance Measures

    SEGMENT RESULTS AND RECONCILIATION OF GAAP TO NON-GAAP PERFORMANCE MEASURES ($ in millions, except per share amounts) Nine months ended June 30, 2014 Mueller Co. Anvil Corporate Total (in millions, except per share amounts) GAAP results: Net sales $ 570.3 $ 293.7 $ — $ 864.0 Gross profit $ 166.9 $ 7

  16. Slide 16: Q&A

    Q&A

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