Pez Saini's questions to Mueller Water Products Inc (MWA) leadership • Q4 2024
Question
Pez Saini, on for Mike Halloran, inquired about Mueller's capital allocation priorities, including the M&A pipeline and potential for large organic investments, given the strong balance sheet. He also asked for an update on the residential construction outlook based on recent customer discussions.
Answer
CEO Marietta Zakas confirmed that capital allocation will continue to balance shareholder returns (dividends, buybacks) with strategic investments. She noted that acquisitions remain a key focus, particularly bolt-ons that leverage existing distribution and manufacturing. President and COO Paul McAndrew described the residential construction market as normalized and healthy, with resilient demand and disciplined investment from homebuilders, a view incorporated into the FY25 guidance.