Mueller Water Products Business Update

Provides Update on Timing for Reporting Fourth Quarter and Fiscal 2023 Results
Announces Preliminary, Unaudited Fourth Quarter and Fiscal 2023 Consolidated Results

ATLANTA, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Mueller Water Products, Inc. (NYSE: MWA) today announced selected preliminary financial information for its fourth quarter and fiscal year ended September 30, 2023, and updated timing for reporting results for fiscal 2023.

As previously announced on October 28, 2023, the Company recently identified a cybersecurity incident impacting certain of its operational and information technology systems. The cybersecurity incident has disrupted access to certain systems and information, impacting the Company’s ability to finalize its fiscal 2023 financial statements. Therefore, the Company is postponing its quarterly earnings conference call for the fourth quarter and fiscal 2023. At a later date, the Company will make an announcement related to the timing of its earnings release and conference call to discuss the Company’s fourth quarter and fiscal 2023 results and respond to questions from financial analysts.

“For fiscal 2023, our preliminary consolidated net sales and adjusted EBITDA exceeded the expectations we provided with our third quarter 2023 results. We ended fiscal 2023 with a strong balance sheet and liquidity, allowing us to continue reinvesting in our operations while returning cash to shareholders through our quarterly dividend, which was recently increased for the eighth time since 2014, as well as through share repurchases,” said Martie Edmunds Zakas, Chief Executive Officer of Mueller Water Products.

“Our teams are working around the clock to restore normal operations from the cybersecurity incident. This includes working with leading third-party cybersecurity specialists to support our investigation and recovery efforts. We are focused on systems remediation and restoration in order to minimize the impact on customers and employees, as we remain centered on serving our customers,” Ms. Zakas concluded.

The Company is sharing the following selected preliminary financial information which has not been reviewed or audited by the Company’s independent auditor. The following preliminary financial information should not be considered final until the Company files its Annual Report on Form 10-K for the year ended September 30, 2023 (the “Annual Report”). See “Note Regarding Preliminary Information” below.