After a third-quarter loss in 2016, Paul Mueller Co. (OTC: MUEL) reversed course this year, and its stock is performing at a 52-week high.
The Springfield-based stainless steel equipment manufacturer posted earnings of $1.8 million, or $1.51 per diluted share, compared with a net loss of $3.2 million, or a loss of $2.66 per share, in third-quarter 2016, according to a news release.
Last year’s loss occurred when Mueller Co. paid out $13.8 million to 218 pension participants. Lump-sum pension payments were not present in the latest quarter.
Third-quarter financial notes:
• Net sales rose 9.4 percent to $48.3 million compared with a year earlier.
• Domestic sales led with a 12 percent increase to $34.9 million.
• A slow dairy farm market in the Netherlands dragged on the company’s European sales, keeping them roughly flat at $13.5 million.
Mueller Co. held assets of $136.7 million as of Sept. 30, according to the release.
The manufacturer’s over-the-counter stock hit a 52-week high yesterday of $37 per share. Its 52-week low is $26.60 per share.
Search sponsored by:
The 21-year-old is working to graduate in May while cultivating her small business.
“We’re doing really complicated math, forecasting way in the spring, what we’re gonna need in inventory by what date,” says Shawn Askinosie, the Founder and CEO of Askinosie Chocolate. The …