Company: MWA
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001350593-25-000012
Chunk: 72

Company: Mueller Water Products, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 8
Chunk 72
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 were $129.7 million as compared with $115.1 million in the prior year period, an increase of $14.6 million or 12.7%, primarily as a result of higher volumes of hydrants as well as higher pricing across most product lines.

Gross profit for the three months ended December 31, 2024 was $47.9 million as compared with $39.7 million in the prior year period, an increase of $8.2 million or 20.7%.  The increase was primarily driven by higher volumes in hydrants, and favorable price/cost partially offset by impacts of the Israel-Hamas war.  Gross margin was 36.9% in the three months ended December 31, 2024 as compared with 34.5% in the prior year period.

SG&A for the three months ended December 31, 2024 was $20.3 million as compared with $24.6 million in the prior year period, a decrease of $4.3 million or 17.5%, primarily due to lower amortization, favorable foreign exchange impacts, and lower personnel-related expense, partially offset by higher commissions.  The decrease was partially offset by higher third-party fees and approximately 3% inflation.  SG&A as a percentage of net sales was 15.7% and 21.4% in the three months ended December 31, 2024 and 2023, respectively.

27

Corporate

SG&A for the three months ended December 31, 2024 was $13.8 million as compared with $13.1 million in the prior year period, an increase of $0.7 million or 5.3%, primarily as a result of approximately 3% inflation and higher third-party fees partially offset by lower personnel-related expense.  

Liquidity and Capital Resources

We had cash and cash equivalents on hand of $338.2 million at December 31, 2024 and $163.0 million of additional borrowing capacity under our ABL based on December 31, 2024 data. At December 31, 2024, cash and cash equivalents included $73.3 million, $12.0 million and $11.6 million in Israel, Canada and China, respectively.

We declared a quarterly dividend of $0.067 per share on January 23, 2025, payable on or about February 21, 2025 to stockholders of record as of February 10, 202