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April 20 , 2021 MUELLER INDUSTRIES Mueller Industries , Inc. Reports First Quarter 2021 Earnings COLLIERVILLE , Tenn .-- ( BUSINESS WIRE ) -- Mueller Industries , Inc. ( NYSE : MLI ) announces 2021 first quarter results . ( All comparisons are to the prior year quarter . ) ● Operating income of $ 92.5 million versus $ 59.3 million • Net income of $ 63.1 million versus $ 32.4 million • Net sales of $ 818.1 million versus $ 602.9 million • EPS of $ 1.11 versus $ 0.57 per share Financial and Operating Highlights : • Average COMEX copper for the first quarter was $ 3.86 per pound , a 50 percent increase over the first quarter of last year . • The increase in net sales was attributable to unit sales growth across most of our businesses , recent acquisitions and the influence of the higher copper prices . The price of copper is largely passed through and as such , impacts selling prices in many of our businesses . • Selling , general , and administrative expense was $ 45.4 million for the quarter , which included $ 2.7 million of incremental expense from recently acquired businesses , compared to $ 42.8 million in the prior year quarter . • We recorded a $ 1.6 million loss on our investment in Tecumseh Products Company for the quarter , compared to a $ 6.3 million loss recorded during the prior year period . • During the quarter , we closed on our previously announced acquisition of the Hart & Cooley Flexible Duct business . • At quarter - end , cash on hand was $ 129.9 million , our debt to total capitalization was 31 percent , and the current ratio was 2.2 to 1 . Regarding the state of the Company and outlook , Greg Christopher , Mueller's CEO said : " Our performance in the first quarter falls in line with our 2020 year - end expectations . Most economies in which we operate continue to improve , as restrictions imposed in response to the pandemic are being lifted . The increased availability of vaccines , the significant flow of money into global economies , and the potential of a U.S. infrastructure bill , strengthen this positive outlook . " Mueller Industries , Inc. ( NYSE : MLI ) is an industrial corporation whose holdings manufacture vital goods for important markets such as air , water , oil and gas distribution ; climate comfort ; food preservation ; energy transmission ; medical ; aerospace ; and automotive . It includes a network of companies and brands throughout North America , Europe , Asia , and the Middle East . Statements in this release that are not strictly historical may be " forward - looking " statements ,