Company: MWA
Filing Date: 2025-11-19
Form Type: 10-K
Source: 0001350593-25-000066
Chunk: 144

Company: Mueller Water Products, Inc.
Filing Date: 2025-11-19
Form: 10-K
Item: Item 1
Chunk 144
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®Sentryx™Singer®U.S. Pipe Valve and Hydrant

 4

Table of ContentsIndex to Financial Statements

Seasonality 

Parts of our business depend upon construction activity, which is seasonal in many areas as a result of the impact of cold weather conditions on construction.  Net sales and operating income have historically been lowest in our first and second fiscal quarters ending December 31 and March 31, respectively, when the northern United States and most of Canada generally face weather conditions that restrict significant construction activity.  See “Item 1A. RISK FACTORS - Seasonal demand for certain of our products and services may adversely affect our financial results.”  

Sales, Marketing and Distribution 

We primarily sell to national and regional waterworks distributors in the United States and Canada.  Our distributor relationships are generally non-exclusive, but we attempt to align ourselves with key distributors in the principal markets we serve.  We believe “Mueller” is the most recognized brand in the United States water infrastructure industry.  Our extensive installed base, broad product range and well-known brands have led to many long-standing relationships with the key distributors in the principal markets we serve.  Our distribution network covers all of the major locations for our principal products in the United States and Canada.  Although we have long-standing relationships with most of our key distributors, we typically do not have long-term contracts with them, including our two largest distributors, which together accounted for approximately 37%, 38% and 35% of our gross sales in 2025, 2024 and 2023 fiscal years, respectively.  See “Item 1A. RISK FACTORS - Our business depends on a small group of key customers for a significant portion of our sales.”  

Water Flow Solutions

Water Flow Solutions sells its products primarily through waterworks distributors to a wide variety of end user customers, including water and wastewater utilities, and fire protection and construction contractors.  Sales of the products are heavily influenced by the specifications for the underlying projects.  Approximately 5% of Water Flow Solutions’ net sales were to Canadian customers in fiscal year 2025 and 6% in fiscal years 2024 and 2023.

Water Management Solutions

Water Management Solutions sells its products primarily through waterworks distributors to a wide variety of end user customers, including water and wastewater utilities, gas utilities, integrated suppliers, as well as fire protection and construction contractors.  Sales of our products are heavily influenced by the specifications for the underlying projects.  Water Management Solutions