ʻO Mueller Industries Inc. (NYSE: MLI) kahi ʻoihana hana hale kila nui. Ke hana nei ka ʻoihana ma kahi mākeke ʻaʻole i loaʻa nā waiwai nui a i ʻole nā ​​​​manaʻo ulu, a he nui ka poʻe e ʻike he mea hoʻoluhi. Akā loaʻa iā lākou ke kālā a loaʻa iā lākou kahi ʻoihana i wānana ʻia a paʻa. ʻO kēia nā ʻoihana aʻu e makemake ai, a hiki iā ʻoe ke maopopo ʻaʻole i nānā kekahi mau mea hoʻopukapuka kālā i kēia kihi o ka mākeke. Ua hakakā ka ʻoihana e uku i ka aie, ʻaʻohe o lākou aie i kēia manawa a he $400 miliona ka laina hōʻaiʻē i huki ʻole ʻia, e hoʻolilo ana iā lākou i mea maʻalahi loa inā kū mai nā pahuhopu loaʻa a hiki i ka ʻoihana ke neʻe wikiwiki. ʻOiai me ka ʻole o kekahi loaʻa e hoʻomaka i ka ulu ʻana, loaʻa i ka ʻoihana ke kahe kālā manuahi nui a ua ulu no nā makahiki he nui, kahi ʻano e like me ka hoʻomau ʻana i ka wā e hiki mai ana. ʻAʻole like ka mākeke me ka mahalo i ka ʻoihana, a ʻo ka ulu ʻana o ka loaʻa kālā a me ka loaʻa kālā i nā makahiki i hala iho nei me he mea lā e hōʻike nui ʻia ana.
"Hana a kūʻai aku ʻo Mueller Industries, Inc. i nā huahana keleawe, keleawe, alumini a me nā plastik ma US, UK, Kanada, Korea, Middle East, Kina a me Mexico. Hana ka ʻoihana ma ʻekolu mau ʻāpana: nā ʻōnaehana paipu, nā metala ʻoihana a me ke aniau. Nā ʻōnaehana paipu Hāʻawi ka ʻāpana i nā paipu keleawe, nā mea pono, nā kime piping a me nā mea pono, nā paipu PEX a me nā ʻōnaehana radiant, a me nā mea pono e pili ana i ka plumbing a me nā mea hana hoʻoheheʻe injection plastic a me ka lako paipu plumbing. Kūʻai aku kēia ʻāpana i kāna mau huahana i nā mea kūʻai nui ma nā mākeke plumbing a me ka refrigeration, nā mea hoʻolaha kaʻa home a me nā leʻaleʻa, nā mea kūʻai aku mea kūkulu hale a me nā mea hana lako ea ea mua (OEM). Hana ka ʻāpana Industrial Metals i nā koʻokoʻo keleawe, keleawe a me ke keleawe, keleawe no nā paipu, nā valves a me nā mea pono; nā huahana alumini a me ke keleawe i hoʻokumu anu ʻia; ka hana ʻana o ka alumini i, ke kila, ke keleawe a me ka hopena hao i hoʻolei ʻia a me nā hoʻolei ʻana; nā forgings i hana ʻia me ke keleawe a me ka alumini; nā valves i hana ʻia me ke keleawe, ke alumini a me ke kila kila; nā hoʻonā hoʻomalu wai a me nā mea hana lako mua o nā ʻōnaehana kinoea i hōʻuluʻulu ʻia no nā mākeke ʻoihana, hoʻolālā hale, HVAC, plumbing a me ka refrigeration. Hāʻawi ka ʻāpana Climate i nā valves, nā kiaʻi a me ke keleawe i nā OEM like ʻole ma nā mākeke HVAC kalepa a me ka refrigeration. Nā mea komo; Nā ʻāpana Voltage Kiʻekiʻe a me nā mea pono no nā mākeke ea a me nā mākeke hoʻomaʻalili; nā mea hoʻololi wela coaxial a me nā paipu wili no HVAC, geothermal, refrigeration, nā pamu wela loko ʻauʻau, ke kūkulu moku, nā mea hana hau, nā paila kalepa a me nā mākeke hoʻōla wela; nā ʻōnaehana HVAC palupalu i hoʻopaʻa ʻia; nā manifolds brazed, nā manifolds a me nā ʻākoakoa mea hoʻolaha. Ua hoʻokumu ʻia ka hui ma 1917 a aia ke keʻena nui ma Collierville, Tennessee.
I ka makahiki 2021, e hōʻike ʻo Mueller Industries i $3.8 biliona i ka loaʻa kālā makahiki, $468.5 miliona i ka loaʻa kālā ʻupena, a me $8.25 i ka loaʻa kālā i hoʻoheheʻe ʻia ma kēlā me kēia mahele. Ua hōʻike pū ka ʻoihana i nā loaʻa kālā no ka hapaha mua a me ka lua o 2022. No ka hapaha mua o 2022, ua hōʻike ka ʻoihana i ka loaʻa kālā o $2.16 biliona, ka loaʻa kālā ʻupena o $364 miliona a me ka loaʻa kālā i hoʻoheheʻe ʻia ma kēlā me kēia mahele o $6.43. Uku ka ʻoihana i kahi mahele o kēia manawa o $1.00 no kēlā me kēia mahele, a i ʻole he 1.48% ka hua ma ke kumukūʻai mahele o kēia manawa.
Maikaʻi nā manaʻolana no ka hoʻomohala hou ʻana o ka ʻoihana. ʻO ke kūkulu ʻana i nā hale hou a me ka hoʻomohala ʻana i nā ʻoihana he mau mea nui e hoʻohuli a kōkua i ka hoʻoholo ʻana i nā kūʻai aku o kahi ʻoihana, ʻoiai ʻo kēia mau wahi ka mea e helu ai i ka hapa nui o ke koi no nā huahana o ka ʻoihana. Wahi a ka US Census Bureau, ʻo ka nui maoli o nā hale hou ma US he 1.6 miliona i ka makahiki 2021, mai 1.38 miliona i ka makahiki 2020. Eia kekahi, ua waiwai ʻia nā hale pilikino ʻaʻole noho ma 467.9 biliona i ka makahiki 2021, 479 biliona i ka makahiki 2020 a me 500.1 biliona i ka makahiki 2019. Manaʻo ʻia e mau ka ikaika o ke koi ma kēia mau wahi a manaʻoʻiʻo nā ʻoihana e pōmaikaʻi kā lākou ʻoihana a me ka hana kālā mai kēia mau mea a e mau ka paʻa. . Ua wānana ʻia i ka makahiki 2022 a me 2023 e ulu ka nui o ke kūkulu ʻana i nā hale ʻaʻole noho ma 5.4% a me 6.1%, kēlā me kēia. E kōkua kēia manaʻo koi iā Mueller Industries, Inc. e mālama i nā pae kiʻekiʻe o ka ulu ʻana a me nā hana.
ʻO nā mea pilikia e hiki ke hoʻopilikia i ka ʻoihana, ʻo ia nā kūlana waiwai e pili ana i ka hoʻomohala ʻana i nā hale noho a me nā ʻoihana. Ke nānā aku nei nā mākeke kūkulu hale i kēia manawa a ua maikaʻi ka hana ʻana i nā makahiki i hala iho nei, akā ʻo ka hōʻino ʻana o kēia mau mākeke i ka wā e hiki mai ana e loaʻa ka hopena nui i ka ʻoihana o ka hui.
ʻO ke kapikala mākeke o Mueller Industries Inc. i kēia manawa he $3.8 biliona a he 5.80 ka lakio kumukūʻai-i-ka-loaʻa kālā. ʻOi aku ka haʻahaʻa o kēia lakio kumukūʻai-i-ka-loaʻa kālā ma mua o ka hapa nui o nā mea hoʻokūkū a Mueller. Ke kālepa nei nā ʻoihana kila ʻē aʻe i kēia manawa ma nā lakio P/E ma kahi o 20. Ma ke kumu kumukūʻai-i-ka-loaʻa kālā, ʻike ʻia ka ʻoihana he haʻahaʻa ke kumukūʻai i hoʻohālikelike ʻia me kona mau hoa. Ma muli o ke kūlana o kēia manawa o nā hana, ʻike ʻia ka ʻoihana he haʻahaʻa ke kumukūʻai. Ke noʻonoʻo nei i ka ulu ʻana o ka loaʻa kālā a me ka loaʻa kālā o ka ʻoihana, me he mea lā he waiwai hoihoi loa kēia me kahi waiwai i ʻike ʻole ʻia.
Ua uku ikaika ka ʻoihana i ka ʻaiʻē i nā makahiki i hala iho nei a ua ʻole ka ʻoihana i kēia manawa me ka ʻaiʻē. He mea maikaʻi loa kēia no ka ʻoihana, no ka mea, i kēia manawa, ʻaʻole ia e kaupalena i ka loaʻa kālā o ka ʻoihana a hoʻolilo iā lākou i mea maʻalahi loa. Ua hoʻopau ka ʻoihana i ka hapaha ʻelua me $202 miliona ma ke kālā a loaʻa iā lākou kahi hōʻaiʻē hoʻohuli i hoʻohana ʻole ʻia he $400 miliona e loaʻa ana e huki ai inā pono nā hana a i ʻole nā ​​​​manawa kūpono e loaʻa ai nā hoʻolālā.
Me he ʻoihana maikaʻi loa lā ʻo Mueller Industries a he waiwai nui hoʻi. Ua kūpaʻa ka ʻoihana i ka wā ma mua a ua ʻike i ka ulu nui ʻana o ke koi i ka makahiki 2021 e hoʻomau ʻia a hiki i ka makahiki 2022. He nui ka waihona o nā kauoha, ke hana maikaʻi nei ka ʻoihana. Ke kālepa nei ka ʻoihana ma kahi lakio kumukūʻai-i-ka-loaʻa kālā haʻahaʻa, ʻike ʻia ua emi loa ke kumukūʻai ma mua o kona mau mea hoʻokūkū a ma ke ʻano laulā. Inā he lakio P/E maʻamau ka ʻoihana o 10-15, a laila e ʻoi aku ka pālua o ka waiwai mai nā pae o kēia manawa. Ke nānā aku nei ka ʻoihana no ka ulu hou ʻana, ka mea e ʻoi aku ka hoihoi o ka emi ʻana o ke kumukūʻai o kēia manawa, ʻoiai inā ʻaʻole ulu nui kā lākou ʻoihana, inā e mau ana ke kūpaʻa, ua hoʻomākaukau ka ʻoihana no nā mea āpau a ka mākeke e hāʻawi ai iā lākou mai ka papa.
Hōʻike: ʻAʻole wau/mākou e paʻa i nā waihona, nā koho a i ʻole nā ​​​​​​mea like i loko o kekahi o nā ʻoihana i helu ʻia ma luna, akā hiki iā mākou ke komo i kahi kūlana lōʻihi e loaʻa ai ka waiwai ma ke kūʻai ʻana i nā waihona a i ʻole ke kūʻai ʻana i nā kelepona a i ʻole nā ​​​​​​mea like i loko o ka MLI i loko o nā hola 72 e hiki mai ana. Ua kākau wau i kēia ʻatikala iaʻu iho a hōʻike ia i koʻu manaʻo ponoʻī. ʻAʻole au i loaʻa i kekahi uku (koe wale nō ʻo Seeking Alpha). ʻAʻohe oʻu pilina ʻoihana me kekahi o nā ʻoihana i helu ʻia ma kēia ʻatikala.