Paul Mueller Co.'s profits, sales jump in Q2

Paul Mueller Co. (OTC: MUEL) reported year-over-year increases in profits and sales during the second quarter.

The Springfield-based stainless steel manufacturer's net income was $4.8 million, up from a loss of $149,000 in the same quarter a year earlier, according to a news release. Company officials, in part, cited inflationary pressures in reporting the loss last year, Springfield Business Journal previously reported.

Net sales during the latest quarter rose 30.3% to roughly $60 million from $46 million in second-quarter 2022.

"In the U.S., the company has performed well against a strong backlog, which has contributed to excellent results for the first six months of the year," officials said in the release.

Mueller Co.'s work backlog was $106 million as of June 30.

The company's over-the-counter stock closed July 28 at $46 per share, compared with a 52-week range of $40.88 to $48 per share.