Mueller Industries, Inc. (MLI) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, ladies and gentlemen, and welcome to the Miller Industries second quarter 2025 results conference call. Please note this event is being recorded. And now at this time, I would like to turn the call over to Mike Goudreau at FTI Consulting. Please go ahead, sir. Thank you, and good morning, everyone. I would like to welcome you to the Miller Industries conference call. We are here to discuss the company's 2025 second quarter results which were released after the close of market yesterday. With us from the management team today are Bill Miller, Chairman of the Board, Will Miller, President and CEO, Debbie Whitmire, Executive Vice President and CFO, and Frank Madonia, Executive Vice President, Secretary, and General Counsel. Today's call will begin with formal remarks from management, followed by a question and answer session. Please note in this morning's conference call, management may make forward-looking statements in accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. I'd like to call your attention to the risks correlated to these statements, which are more fully described in the company's annual report filed on Form 10-K and other filings with the Securities and Exchange Commission. At this time, I'd like to turn the call over to Will. Please go ahead, Will. Good morning, everyone, and thank you for joining us today. I would like to start with a brief statement before I hand the call over to Debbie to discuss our results in more detail. In the second quarter, we continued to face challenges in the market, predominantly related to industry-wide demand headwinds. Retail sales activity was down 20% quarter over quarter, resulting in a 30% decrease in order intake from our distributors. We attribute the decreas...