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July 20 , 2021 MUELLER INDUSTRIES Mueller Industries , Inc. Reports Second Quarter 2021 Earnings COLLIERVILLE , Tenn .-- ( BUSINESS WIRE ) -- Mueller Industries , Inc. ( NYSE : MLI ) announces 2021 second quarter results . ( All comparisons are to the prior year quarter . ) ● Operating income of $ 157.8 million versus $ 52.3 million • Net income of $ 108.8 million versus $ 28.0 million • Net sales of $ 1.01 billion versus $ 500.2 million • EPS of $ 1.92 versus $ 0.50 per share Financial and Operating Highlights : • Average COMEX copper for the second quarter was $ 4.43 per pound , an 82 percent increase over the second quarter of last year . • The increase in net sales was attributable to unit sales growth across all segments , contributions from 2020 acquisitions , and the influence of higher copper prices . • During the quarter , we retired our Subordinated Debentures ( $ 284.4 million ) and recognized an expense of $ 5.7 million for a redemption premium . • We recorded a $ 1.0 million loss on our investment in Tecumseh Products Company for the quarter , compared to an $ 8.6 million loss recorded during the prior year period . • At quarter - end , cash on hand was $ 110.7 million , our debt to total capitalization was 27 percent , and the current ratio was 3.0 to 1 . Regarding the state of the Company and outlook , Greg Christopher , Mueller's CEO said , " During the second quarter , our team delivered excellent operating performance while confronting highly inflated demand and widespread industry supply constraints . Extended lead times and abnormally high backlogs are expected to continue well into the third quarter , as many of these conditions persist . Mueller's operations remain well positioned for the current market conditions due to our operational investments and acquisitions that enhance capacity , increase yields and lower costs . In addition , we continue to benefit from the prudent cost controls we implemented during the height of the pandemic . We anticipate that strong demand in the building construction sectors will continue through the remainder of the year . " 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 .