Shares of Mueller Water Products, Inc. (MWA) are up 9% on Tuesday after the company reported that its second-quarter earnings and revenue beat the street estimates.
MWA is trading on the New York Stock Exchange at $18.05, up 9.07% or $1.50 per share. It has traded between $12.11 and $18.99 in the past 52-week period.
The company reported a net income of $44.3 million or $0.28 per share for the quarter, an increase from last year's profit of $21.3 million or $0.14 per share.
On an adjusted basis, it reported income of $46.3 million or $0.30 per share, compared to the income of $21.8 million or $0.14 per share the prior year.
Analysts on average had expected the company to earn $0.14 per share, according to figures compiled by Thomson Reuters.
Revenue increased to $353.4 million from $332.9 million the previous year. It beat the consensus estimate of $299.6 million.
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