This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mueller Water Products Rises On Strong 4Q Results

NEW YORK (AP) ¿ Shares of Mueller Water Products Inc. jumped Wednesday after the maker of fire hydrants and municipal water valves posted better-than-expected fiscal fourth-quarter results on cost controls and higher production.

Furthermore, analysts predicted more earnings growth as stimulus spending spawns infrastructure projects and residential construction emerges from its trough.

On Tuesday after the markets closed, Mueller reported a quarterly loss of $10.9 million, or 9 cents per share, compared with a profit in the year-earlier period of $17.6 million, or 15 cents per share. Revenue sank to $374.8 million from $496.9 million.

Excluding one-time charges for financial transactions, retiring debt and restructuring, the Atlanta-based company reported an adjusted loss of 3 cents per share.

Analysts had expected an adjusted loss of 8 cents per share on revenue of $369.6 million, according to a Thomson Reuters survey.

Janney Capital Markets analyst Debra G. Coy reiterated her "Buy" rating on Mueller, noting that shipments and productions rose while selling, general and administrative costs fell.

Baird analyst Michael A. Schneider, who also has a "Buy" rating on the shares, said the fourth-quarter results "provide further evidence that its core water infrastructure markets have bottomed and are poised to turn upward while also demonstrating the significant operating leverage inherent in the business model."

In morning trading, shares rose 55 cents, or 11.9 percent, to $5.15. In the last 12 months, the stock has ranged from $1.48 to $8.55.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs