Mueller Co. posts Q3 profits, reversing loss a year earlier

A reversal from a net loss a year earlier, Paul Mueller Co. (OTC: MUEL) reported positive earnings in the third quarter.

The Springfield-based stainless steel manufacturer's net income was $980,000, compared with a loss of roughly $1 million in third-quarter 2021, according to a news release. Diluted share earnings were 90 cents during the latest quarter, up from a 96-cent share loss in the same three-month period last year.

Third-quarter financial notes for Mueller Co.
• Net sales climbed 6.3% to $45.8 million.
• Work order backlog was $139.2 million as of Sept. 30, up from $78.4 million at the end of 2021.
• The company employed 39 additional workers as of Sept. 30 compared with the beginning of the year, with 18 in production, a 5% increase.

As of Sept. 30, Mueller Co.'s assets were $128 million, according to the release.

The company's over-the-counter stock closed at $47.99 on Friday , compared with a 52-week range of $38.23 to $48 per share.