Press Release: Mueller Water Products Reports 2021 Fourth Quarter and Fiscal Year Results
Press Release: Mueller Water Products Reports 2021 Fourth Quarter and Fiscal Year Results
Mueller Water Products Reports 2021 Fourth Quarter and Fiscal Year Results
Mueller Water Products报告2021年第四季度和财年业绩
Achieved Net Sales of $295.6 million in Quarter, $1.1 billion in Fiscal Year
本季度实现净销售额2.956亿美元，财年净销售额11亿美元
Earned Net Income per Diluted Share of $0.12 in Quarter, $0.44 in Fiscal Year
本季度稀释后每股净收益为0.12美元，财年为0.44美元
Reported Adjusted Net Income per Diluted Share of $0.12 in Quarter, $0.56 in Fiscal Year
本季度公布的调整后每股摊薄净收益为0.12美元，财年为0.56美元
ATLANTA, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE: MWA) announced today that its fiscal 2021 fourth quarter ended September 30, 2021 net sales were $295.6 million and net income was $18.4 million.
亚特兰大，2021年11月8日(环球通讯社)--Mueller Water Products，Inc.(纽约证券交易所市场代码：MWA)今天宣布，截至2021年9月30日的2021财年第四季度净销售额为2.956亿美元，净收益为1840万美元。
In the fourth quarter of 2021, the Company:
2021年第四季度，本公司：
-- Achieved net sales of $295.6 million, an increase of 11.4 percent as
compared with $265.3 million in the prior year quarter.
-- Generated operating income of $27.8 million as compared with $40.7
million in the prior year quarter and adjusted operating income of $29.7
million as compared with $41.8 million in the prior year quarter.
-- Reported net income of $18.4 million as compared with $26.7 million in
the prior year quarter and adjusted net income of $19.8 million as
compared with $27.5 million in the prior year quarter.
-- Reported net income per diluted share and adjusted net income per diluted
share of $0.12 as compared with net income per diluted share and adjusted
net income per diluted share of $0.17 in the prior year quarter.
-- Reported Adjusted EBITDA of $45.6 million as compared with $57.6 million
in the prior year quarter, resulting in an adjusted EBITDA margin of 15.4
percent as compared with 21.7 percent in the prior year quarter.
-- Repurchased $10.0 million of common stock during the quarter.
-实现净销售额2.956亿美元，同比增长11.4%而去年同期为2.653亿美元。-营业收入为2,780万美元，而去年同期为4,070万美元上一年季度为2000万美元，调整后的营业收入为297美元600万美元，而去年同期为4180万美元。-报告的净收入为1840万美元，而去年为2670万美元上一年季度和调整后的净收益为1980万美元而去年同期为2750万美元。-公布的稀释后每股净收益和调整后的稀释后净收益与稀释后每股净收益相比，调整后每股收益为0.12美元上一季度稀释后每股净收益为0.17美元。-报告的调整后EBITDA为4560万美元，而去年同期为5760万美元在上一年季度，调整后的EBITDA利润率为15.46亿美元，而去年同期为21.7%。-本季度回购了1000万美元的普通股。
In the full fiscal year, the Company:
在整个财年，本公司：
-- Achieved net sales of $1,111.0 million, an increase of 15.2 percent, as
compared with the prior year of $964.1 million.
-- Generated net income of $70.4 million as compared with $72.0 million in
the prior year.
-- Reported net income per diluted share of $0.44 as compared with $0.45 in
the prior year, and achieved adjusted net income per diluted share of
$0.56 as compared with $0.52 in the prior year.
-- Achieved adjusted EBITDA of $203.6 million, an increase of 6.8 percent as
compared with $190.6 million in the prior year yielding an adjusted
EBITDA margin of 18.4 percent as compared with 19.8 percent in the prior
year.
-- Increased operating cash flow by $16.4 million to $156.7 million from
$140.3 million in the prior year and improved free cash flow by $21.4
million to $94.0 million from $72.6 million in the prior year.
-实现净销售额11.11亿美元，增长15.2%，上年为9.641亿美元。-产生的净收入为7040万美元，而去年为7200万美元前一年。-公布的稀释后每股净收入为0.44美元，而去年同期为0.45美元，并实现调整后的每股稀释后净收益0.56美元，上年为0.52美元。-实现调整后的EBITDA为2.036亿美元，同比增长6.8%与前一年的1.906亿美元相比，调整后的EBITDA利润率为18.4%，而去年同期为19.8%年。-营业现金流增加1640万美元，从1.567亿美元增至1.567亿美元上年为1.403亿美元，自由现金流增加21.4美元从上年的7260万美元增加到9400万美元。
"The fourth quarter was a disappointing end to a strong year, which we achieved despite the ongoing pandemic and other challenges. In addition to the pandemic, we have faced many obstacles over the past year including significant raw material and other cost inflation, supply chain disruptions and labor availability challenges, which impacted fourth quarter operations and results. I am grateful to all of our team members for their perseverance and dedication throughout this past year, " said Scott Hall, President and Chief Executive Officer of Mueller Water Products.
Mueller Water Products总裁兼首席执行官斯科特·霍尔(Scott Hall)表示：“第四季度是强劲的一年令人失望的收官之年，尽管疫情仍在继续，但我们还是取得了这一成就。除了大流行，我们在过去一年中还面临着许多障碍，包括严重的原材料和其他成本上涨、供应链中断和劳动力可用性挑战，这些都影响了第四季度的运营和业绩。我感谢我们所有团队成员在过去一年中的坚持不懈和奉献精神，”Mueller Water Products总裁兼首席执行官斯科特·霍尔(Scott Hall)说。
"Our consolidated net sales increased 11.4 percent for the fourth quarter and 15.2 percent for the full year. Following record sales growth in the third quarter, we experienced continued strong demand in the fourth quarter driven by both new residential construction and municipal repair and replacement activity. Fourth quarter orders remained elevated compared with pre-pandemic levels, and we ended the year with record backlog for our Infrastructure products.
我们第四季度的合并净销售额增长了11.4%，全年增长了15.2%。继第三季度创纪录的销售增长之后，在新住宅建设和市政维修和更换活动的推动下，我们在第四季度经历了持续的强劲需求。与大流行前的水平相比，第四季度的订单仍然很高，我们的基础设施产品在年底的积压达到了创纪录的水平。
"While our fourth quarter adjusted EBITDA decreased, primarily due to the challenging operating environment, we still achieved 6.8 percent adjusted EBITDA growth for the year. Although we realized improved pricing in the quarter for the majority of our products, it was not enough to offset the continued higher inflation. Additionally, during the quarter, our specialty valve product portfolio experienced longer delivery times for parts, delaying shipments, and our ongoing plant restructuring has been impacted by the supply chain disruptions and labor challenges.
虽然我们第四季度调整后的EBITDA有所下降，主要是因为具有挑战性的经营环境，但我们全年仍实现了6.8%的调整后EBITDA增长。尽管我们在本季度实现了大多数产品的定价改善，但这不足以抵消持续上升的通胀。此外，在本季度，我们的特种阀门产品组合经历了更长的零部件交付时间，推迟了发货，我们正在进行的工厂重组受到供应链中断和劳动力挑战的影响。
"I am especially pleased with our cash flow for the year, where we generated $94.0 million of free cash flow. After the $19.7 million purchase of i2O Water and allocating $44.8 million to shareholders via our quarterly dividend and share repurchases, we ended the year with a stronger cash position compared with the prior year.
我对我们今年的现金流特别满意，我们产生了9400万美元的自由现金流。在以1970万美元收购I2O水务公司并通过我们的季度股息和股票回购向股东分配4480万美元之后，我们以比前一年更强劲的现金状况结束了这一年。
"We believe that the record backlog across our short-cycle products coupled with the expected realization from higher pricing have positioned us to deliver net sales and adjusted EBITDA growth in fiscal 2022. We expect that our current pricing actions will more than cover anticipated inflation in fiscal 2022, assuming material costs do not increase beyond current levels. However, we expect the operating environment to remain challenging, especially in the first half of our fiscal year, with the potential for gradual improvement during the second half of the year.
我们认为，我们的短周期产品的创纪录积压，加上预期从更高的定价中实现，使我们有能力在2022财年实现净销售额和调整后的EBITDA增长。我们预计，假设材料成本不会超过目前的水平，我们目前的定价行动将超过2022财年的预期通胀。然而，我们预计经营环境仍将具有挑战性，特别是在我们的财年上半年，下半年有逐步改善的潜力。
"During fiscal 2022, we will remain focused on executing our strategic initiatives and overcoming the external and internal operational challenges. We are excited about the progress we have made in our new product development programs and the growing market acceptance for digitally-enabled product offerings such as our Super Centurion Smart Hydrant, Sentryx software platform and i2O pressure management solutions. Additionally, we are making progress on our sustainability initiatives and will share our strategies, goals and progress in our second ESG report to be published in January 2022.
在2022财年，我们将继续专注于执行我们的战略计划和克服外部和内部的运营挑战。我们对我们在新产品开发计划方面取得的进展以及市场对数字化产品的日益接受感到兴奋，这些产品包括我们的Super Centurion智能消火栓、Sentryx软件平台和I2O压力管理解决方案。此外，我们在可持续发展计划方面正在取得进展，并将在2022年1月出版的第二份ESG报告中分享我们的战略、目标和进展。
"With a strong balance sheet, liquidity and cash flow, we are well-positioned to accelerate growth and efficiencies through capital investments and acquisitions. We will continue to maintain a balanced approach to capital allocation returning cash to shareholders primarily through our quarterly dividend, which was recently increased by approximately 5.5 percent, as well as share repurchases. We remain committed to improving our culture of execution as we become a world class water technologies company bringing solutions to critical water infrastructure."
凭借强劲的资产负债表、流动性和现金流，我们处于有利地位，可以通过资本投资和收购加快增长和效率。我们将继续保持平衡的资本配置方式，主要通过我们最近增加了约5.5%的季度股息以及股票回购将现金返还给股东。我们将继续致力于改善我们的执行文化，因为我们将成为一家世界级的水技术公司，为关键的水利基础设施带来解决方案。
Consolidated Results
合并结果
Net sales for the 2021 fourth quarter increased $30.3 million, or 11.4 percent, to $295.6 million as compared with $265.3 million in the 2020 fourth quarter.
2021年第四季度的净销售额增长了3030万美元，增幅为11.4%，达到2.956亿美元，而2020年第四季度的净销售额为2.653亿美元。
Operating income decreased to $27.8 million from $40.7 million in the prior year quarter.
营业收入从去年同期的4070万美元下降到2780万美元。
During the fourth quarter, the Company incurred $1.9 million of strategic reorganization and other charges, which have been excluded from adjusted results. These charges primarily relate to our previously announced plant restructurings.
在第四季度，该公司发生了190万美元的战略重组和其他费用，这些费用已被排除在调整后的业绩之外。这些费用主要与我们之前宣布的工厂重组有关。
Adjusted operating income of $29.7 million for the quarter decreased 28.9 percent as compared with $41.8 million in the prior year quarter.
该季度调整后的营业收入为2970万美元，比去年同期的4180万美元下降了28.9%。
Segment Results
细分结果
Infrastructure
基础设施
Net sales for the 2021 fourth quarter increased $29.9 million, or 12.4 percent, to $271.9 million as compared with $242.0 million in the 2020 fourth quarter, primarily as a result of increased shipment volumes and higher pricing.
与2020年第四季度的2.42亿美元相比，2021年第四季度的净销售额增长了2990万美元，增幅12.4%，达到2.719亿美元，这主要是由于出货量增加和定价上涨。
Operating income was $46.1 million and adjusted operating income, excluding $0.1 million of strategic reorganization charges, was $46.2 million in the quarter. Adjusted operating income decreased $10.6 million, or 18.7 percent, compared with the prior year quarter, as higher inflation, unfavorable manufacturing performance, which includes the impact of labor challenges, supply chain disruptions, our plant restructurings, and higher SG&A expenses more than offset higher pricing and increased volumes.
该季度的营业收入为4610万美元，不包括10万美元的战略重组费用，调整后的营业收入为4620万美元。与去年同期相比，调整后的营业收入减少了1060万美元，降幅为18.7%，这是因为较高的通胀、不利的制造业绩(包括劳动力挑战、供应链中断、我们工厂重组的影响)以及更高的SG&A费用，足以抵消价格上涨和产量增加的影响。
Adjusted EBITDA of $59.3 million decreased $10.3 million, or 14.8 percent, as compared with $69.6 million in the prior year quarter.
调整后的EBITDA为5930万美元，比去年同期的6960万美元减少了1030万美元，或14.8%。
Technologies
技术
Net sales for the 2021 fourth quarter increased $0.4 million, or 1.7 percent, to $23.7 million, as compared with $23.3 million in the 2020 fourth quarter. This increase was primarily as a result of the acquisition of i2O Water. Organic net sales declined slightly compared with the prior year as higher pricing was more than offset by lower volumes.
2021年第四季度的净销售额增加了40万美元，增幅为1.7%，达到2370万美元，而2020年第四季度的净销售额为2330万美元。这一增长主要是由于收购了I2O Water。有机净销售额与上一年相比略有下降，因为较高的定价被较低的销量所抵消。
Operating loss and adjusted operating loss were each $4.3 million in the quarter. Adjusted operating loss increased $2.0 million as compared with $2.3 million in the prior year quarter, primarily as a result of unfavorable performance, increased expenses associated with our acquisition of i2O Water and higher inflation, which were partially offset by higher pricing.
该季度的营业亏损和调整后的营业亏损分别为430万美元。调整后的营业亏损比去年同期的230万美元增加了200万美元，这主要是因为业绩不佳、与我们收购I2O Water相关的费用增加以及通胀上升，这些都被更高的定价部分抵消了。
Adjusted EBITDA was a loss of $2.4 million as compared with a loss of $0.2 million in the prior year quarter.
调整后的EBITDA为亏损240万美元，而去年同期为亏损20万美元。
Interest Expense, Net
利息支出，净额
Interest expense, net for the 2021 fourth quarter was $4.4 million as compared with $6.0 million in the prior year quarter. The decrease in net interest expense in the quarter resulted primarily from lower interest expense as a result of the refinancing of our 5.5% Senior Notes with 4.0% Senior Notes.
利息支出，2021年第四季度净额为440万美元，而去年同期为600万美元。本季度净利息支出的减少主要是由于我们5.5%的优先债券和4.0%的优先债券的再融资导致利息支出减少。
Income Taxes
所得税
For the 2021 fourth quarter, income tax expense was $5.9 million, or 24.3 percent of income before income taxes. For the fiscal year, income tax expense was $24.5 million, or 25.8 percent of income before taxes, as compared with the prior year effective tax rate of 23.5 percent.
2021年第四季度，所得税支出为590万美元，占所得税前收入的24.3%。本会计年度的所得税支出为2450万美元，占税前收入的25.8%，而上一财年的有效税率为23.5%。
Cash Flow and Balance Sheet
现金流和资产负债表
Net cash provided by operating activities for the fiscal year ended September 30, 2021 increased $16.4 million to $156.7 million as compared with $140.3 million in the prior year, primarily as a result of the $22.0 million Walter Energy tax payment in the prior year.
在截至2021年9月30日的会计年度中，经营活动提供的净现金增加了1640万美元，增至1.567亿美元，而上一财年为1.403亿美元，这主要是由于上一财年缴纳了2200万美元的沃尔特能源税。
The Company invested $16.6 million in capital expenditures during the fourth quarter, bringing the year-to-date total to $62.7 million as compared with $67.7 million in the prior year.
该公司第四季度的资本支出为1660万美元，使今年迄今的资本支出总额达到6270万美元，而去年同期为6770万美元。
Free cash flow (defined as net cash provided by operating activities less capital expenditures) for the year ended September 30, 2021 increased $21.4 million to $94.0 million as compared with $72.6 million in the prior year.
截至2021年9月30日的一年，自由现金流(定义为经营活动提供的净现金减去资本支出)增加了2140万美元，达到9400万美元，而上一年为7260万美元。
译文内容由第三方软件翻译。