Mueller Water Products · NYSE:MWA
Mueller Water Products — Q3 2026 Earnings Presentation
22 slides from Mueller Water Products's earnings presentation, Aug 6, 2026
Slide 1: Fiscal 2026 Third Quarter Earnings Call
Fiscal 2026 Third Quarter Earnings Call August 6, 2026
Slide 2: Non-GAAP Measures
Non-GAAP Measures In an effort to provide investors with additional information regarding the Company’s results as determined by accounting principles generally accepted in the United States (“GAAP”), the Company also provides non-GAAP information that management believes is useful to investors. The
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains certain statements that may be deemed “forward-looking statements” within the meaning of the federal securities laws. All statements that address activities, events or developments that the Company intends, expects, plans, projects, believes or a
Slide 4: Q3 FY2026 Highlights
Q3 FY2026 Highlights Fiscal 2026 (1) (y/y or bps. vs. Fiscal 2025) Record for Quarter Q3 Q3 YTD Achieved new quarterly records for net sales, adjusted EBITDA and adjusted net income per share $395.9M $1,098.5M Net Sales Delivered net sales growth of 4.1%, supported by commercial +4.1% +4.7% executio
Slide 5: Highlights from 2025 Sustainability Report
Highlights from 2025 Sustainability Report Delivering Critical Outcomes for End Customers Reducing Non-revenue Providing Lifesaving Fire Advancing Sustainability Extending Pipe Life Water Protection in Product Design Sustainability Highlights (1) Achieved a Total Recordable Incident Rate (TRIR) of 1
Slide 6: Consolidated Results
Consolidated Results Q3 FY2026 Net Sales ($M) Gross Profit ($M) Adj. EBITDA ($M) (1) Adj. Net Income % of Net Sales % of Net Sales per Diluted Share (1) +4.1% y/y +6.9% y/y +24.3% y/y +47.1% y/y +110 bps. +440 bps. +$0.16 $395.9 $155.8 $380.3 $145.7 39.4% $107.4 $0.50 38.3% $0.34 $86.4 27.1% 22.7% Q
Slide 7: Segment Results
Segment Results Q3 FY2026 Water Flow Solutions (WFS) Water Management Solutions (WMS) Net Sales ($M) Adj. EBITDA ($M) (1) Net Sales ($M) Adj. EBITDA ($M) (1) % of Net Sales % of Net Sales -0.6% y/y +9.5% y/y +10.3% y/y +43.6% y/y +310 bps. +650 bps. $216.6 $215.3 $73.5 $180.6 $67.1 $163.7 31.0% 34.1
Slide 8: Free Cash Flow
Free Cash Flow Q3 and YTD FY2026 Free cash flow for the 9-month period Free Cash Flow ($M) (1) increased $7.6M to $110.6M and $100.0 was 59.1% of adj. net income $80.0 $94.1 $60.0 $69.0 Net cash provided by operating $40.0 $55.7 $44.0 activities for the 9-month period of $20.0 $42.2 $5.1 $154.2M inc
Slide 9: Strong Balance Sheet and Liquidity with Ample Capacity and Flexibility to Support Strategic Priorities
Strong Balance Sheet and Liquidity with Ample Capacity and Flexibility to Support Strategic Priorities Moody’s: Ba1 (Corporate and Notes), Stable Outlook Debt Maturities S&P: BB+ (Corporate and Notes), Stable Outlook Credit Rating $500 $400 $450M of 4.0% Senior Notes (mature June 2029) No debt finan
Slide 10: FY2026 Outlook Increased following Q3 Results with Adj. EBITDA Margin expanding 230 bps. y/y
FY2026 Outlook Increased following Q3 Results with Adj. EBITDA Margin expanding 230 bps. y/y to 25.1% at midpoint (1) Net Sales Adjusted EBITDA (2) Total SG&A Expenses Net Interest Expense (y/y Growth) (y/y Growth) $ 241M to $245M $4M to $5M $ 1,470M to $1,480M $ 367M to $372M (+2.8% to +3.5%) (+12.
Slide 11: The Execution Engine Driving Sustainable Shareholder Value
How We Will Win Continuous Execution Accountability Improvement Our Strategic Priorities Operating System The Execution Engine Drive Above-Market Sales Growth Continue Margin Expansion Execute Disciplined Capital Allocation Driving Sustainable Shareholder Value Vision To be the leader in water infra
Slide 12: Mueller
MUELLER ) ta »
Slide 13: Supplemental Data
Supplemental Data », » i *) aig on 4% - Mueller Water Products
Slide 14: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Three months ended June 30, 2026 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net sales $ 215.3 $ 180.6 $ — $ 395.9 Gross profit (1) $ 89.5 $ 66.3
Slide 15: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Three months ended June 30, 2026 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net income $ 67.3 Income tax expense (4) 12.5 Interest expense, net
Slide 16: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Three months ended June 30, 2025 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net sales $ 216.6 $ 163.7 $ — $ 380.3 Gross profit $ 83.8 $ 61.9 $ —
Slide 17: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Three months ended June 30, 2025 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net income $ 52.5 Income tax expense (3) 19.5 Interest expense, net
Slide 18: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Nine months ended June 30, 2026 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net sales $ 606.6 $ 491.9 $ — $ 1,098.5 Gross profit (1) $ 247.4 $ 17
Slide 19: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Nine months ended June 30, 2026 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net income $ 169.6 Income tax expense (4) 44.7 Interest expense, net
Slide 20: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Nine months ended June 30, 2025 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net sales $ 607.4 $ 441.5 $ — $ 1,048.9 Gross profit (1) $ 215.9 $ 16
Slide 21: Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (Unaudited)
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures (UNAUDITED) Nine months ended June 30, 2025 Water Water Flow Management Solutions Solutions Corporate Consolidated (in millions, except per share amounts) Net income $ 139.1 Income tax expense (4) 46.4 Interest expense, net
Slide 22: Mueller
Mueller Water Products — Q3 2026 Earnings Presentation on 6ix