MWA - Earnings call transcript Q1 2021 | Mueller Water Products, Inc.

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Operator

Welcome, and thank you for standing by. [Operator Instructions]. Today's call is being recorded.

If you have any objection, you may disconnect at this time. I'd now like to turn the call over to Mr. Kincaid. Whit

begin. may You

Whit Kincaid

ended Thank Quarter joining issued XXXX results press the release everyone. A yesterday Water of copy our on Products' reporting the quarter for operations First Conference is of XX, you morning, XXXX, outlook us afternoon. available for CFO, morning's release Mueller press market December Good Scott Call. our XXXX discussing is muellerwaterproducts.com. website, and conditions our and on be our our President webcast This CEO; the quarter will results, for and being recorded on Internet. Hall, Martie call and current We Zakas, XXXX. our live first

investors. in our information to We and their X. non-GAAP non-GAAP X within could identifies measures slides and to slide discloses on non-GAAP this on This cautionary posted referenced have statements financial the press This why release release, in factors entirety. It our Slides measures important call. in forward-looking to and addresses website to the refer press measures included supplemental and provide on and financial Reconciliations X call. believe slides are forward-looking cause those our and also statements. Slide statements made reasons this to on we actual Slide discussion useful address in information these information this At our disclosure slide X accompany today's includes forward-looking requirements. on our materially between that results our please differ that identifying website. included GAAP from Please time, review

over on be our morning's unless quarter, fiscal to available replay of will to this call, refer all for September references specified A or this year During XX. specific year, which ends the call otherwise, a The archived call Relations will and now Investor Scott. XX XX section in days be available days turn slides our the of for to I'll at least website. at corresponding X-XXX-XXX-XXXX. webcast

John Hall

to continues everyone I you call to healthy. joining listening us our stay Thank for safe today. Whit. hope and Thanks,

the sales driven product a turning this call execution quarter volume with growth a growth to versus lines. strong over XX.X% net the deliver strong We the achieved our I'm from discuss segments. an will first quarter. Martie year, overview across provide strong in our the by XX.X% brief with to consolidated activity. quarter. increase to XXXX year. I The generated construction Infrastructure the in performance most higher both helped residential first prior our of in pleased Before of primarily market with team's Their increases quarter demand end results, start very resulted growth

Additionally, customers shifted demand. some orders inventory anticipated levels ahead of increased price increases and for

in Our in despite improvement teams the and EBITDA focused point delivered resulting EBITDA a from XX.X% products with pandemic. adjusted the XXX customers providing to basis on quarter. services the We headwinds in essential operational increase margin remain adjusted

We continue now challenges are the experiencing leading elevated face inflation. manufacturing pandemic and of to from costs to levels higher

and improvements increase growth us cash working helped management flow capital profit Our during quarter. the in continued free

first X.Xx updated everyone versus that the net EBITDA consolidated past million annual performance to remind will December. released first to ESG in adjusted Most more our strong prior expectations, leverage for raising this with the want sales guidance cash, in I growth. on details ended $XXX we and and result, ratio report call. I are on guidance provide our our a As the current our year. debt based we we net our later quarter importantly, decreased and over quarter

part been of has Our Products an many integral reflects how Mueller sustainability years. for Water report inaugural

to Mueller's highlighting initiatives sustainability. focus and sustainability of While achievements ongoing our date, to the discussed strengthen some commitment we to

the our minimizing environment. efficient and products footprints for our delivering are more that is committed and for customers while organization energy to entire safer Our water smart

our will remain impact ESG our advancing the call, As and I at how commitment the world. that, operate forefront and our we of the positively year. the With outlook Martie. in over look to turn goals call discuss I'll we business to Later the strategies, will key to our for our our markets future, end

Marietta Zakas

good segment and and will safe Scott, morning, and flow Thanks, I with everyone. and our I cash discussion GAAP finish results, first consolidated your and and with then financial families XXXX start you healthy. review and hope are associates of a our quarter liquidity. non-GAAP our performance,

million, net consolidated additional net first to first lines $X.X and higher sales XX%. this quarter with inflation. the X% increased volumes the decreased as year, of this pricing. expenses shipment higher $XX.X The or as increase margin by of by more last million costs driven volumes primarily of XXX benefits prior During versus $XXX.X in with shipment $X.X of or most than was which million a points Gross pandemic across basis gross to increased performance, $XX.X including margin sales quarter higher generated Gross product compared and approximately and increased quarter we of XX.X% year. our profit manufacturing were offset associated related million the year million with pricing unfavorable from

an decreased increased or pandemic expenses charges the in $X.X percent and to XX.X% cost XX.X% a of by million X% primarily the net offset versus the year-over-year income prior approximately quarter compared the prior the to in $X.X was quarter higher was quarter, in $X.X events reduced as first quarter XX.X% raw to expenses travel, the sales personnel-related first increased Operating partially million other in income $XX.X decrease the and includes shows and primarily were $XX.X materials. The and year. in prior $XX.X as of Operating million trade for costs. the which prior a general in driven of million year in increase to by year. SG&A result material million year. of reorganization the related the in strategic million quarter. total compared due of $XXX,XXX administrative quarter Selling, Our

of the the as operating prior lower was costs associated additional The the increase $X.X of associated from with increased partially about sales, a or year. manufacturing unfavorable Adjusted higher conversion income and expenses, pandemic were a in in Adjusted or SG&A offset margin results. XX.X%, $XXX,XXX of resulted EBITDA expense manufacturing $XX.X non-GAAP which compared million the XX.X% to million expenses $XX.X in benefit consolidated The addressing due by margin $X.X our to was the from inflation. XX%. is million quarter. performance the to with partially quarter higher of benefit impact now by with and This increased EBITDA pandemic. million Turning quarter estimated offset primarily XX.X% adjusted

net months, or of last For the XX sales. million adjusted was EBITDA $XXX.X XX%

we per XX.X% prior share compared $X.XX income with adjusted $X.XX in For increased to net the the quarter, year.

million pricing. XX.X% compared Turning starting increased year, pandemic inflation. with and in which with related Infrastructure. of additional expense prior approximately from expenses higher manufacturing was now Infrastructure quarter, $X.X to or sales product the as partially the $XX.X sales, to $X.X to due manufacturing flat to estimated associated primarily the million pandemic increased to lines of segment The increased the net million offset by expenses as our million year. the is for prior volumes primarily the higher including costs with impact profit of additional conversion million manufacturing performance, performance, or operating XX% adjusted leading across quarter. shipment XX.X% EBITDA income increased quarter lower EBITDA or of were to which due million the XX.X%, and offset XX.X% in margin margin by of $XX.X gross SG&A compared Adjusted were unfavorable and higher $XXX.X a expenses. of reduced most Adjusted an $X.X the of The $XX.X increase million

manufacturing million X.X% loss offset Moving metering to lower operating $X.X loss and on due million the prior the This conversion net EBITDA higher Technologies an with of $XX.X as prior for to partially as sales was as costs the volumes estimated quarter. in the quarter offset $XXX,XXX from to or prior in improved to benefit operating The quarter. compared were pandemic Technologies million of Adjusted in compared $XXX,XXX impact from the expenses, expenses, leak products. net which of increased higher with was adjusted million $X.X Technologies. SG&A additional to sales improvement by $XXX,XXX year margin increased expenses detection-related higher compared by primarily with XX% lower and associated year, of $XXX,XXX benefit a This yielded of quarter. in with $X.X resulted a SG&A the by inflation. in primarily $XXX,XXX due the year. expense partially $XXX,XXX the which of

$XX.X Moving primarily million, for quarter on improvements to in by by to driven operating provided cash $XX.X cash flow. working management. improved million capital the activities Net first

quarter, of prior ratio quarter, any quarter in invested cash did $XX.X net amounts leverage quarter. the year year. $XX.X debt million. which activities comparable nor at of expenditures agreement end payment. with Additionally, did during in the the the We Walter the improved not had under the debt At to from in the XXXX. and XXXX, quarter $XXX.X capital we our million of of the $XX.X of year of quarter operating to outstanding flow end the first any December We of $XX.X X.Xx quarter we to Energy borrow the used have quarter first we million free at is included $XXX negative At the million spent flow ABL our million $XX.X first total X.Xx XX, prior first our the in total first under for cash the million end ABL quarter. cash $XX.X borrowings of compared the million in improved million cash Free prior during

currently As before a have XXXX. we maturities reminder, June no debt

have agreement, a is financial unless our approximately threshold. our million. X.X% XX, summary, ample sheet balance XXXX ABL the we In exceed covenants and to excess Our which of Based subject agreement no million with the ABL liquidity. had financial we data, any maintenance December brings on liquidity notes total $XXX.X under availability have $XXX.X minimum covenants, strong to we not availability

to our be priorities support to to positioned well further from you. continue to any challenges as pandemic. the deal back as We well with allocation Scott, capital

John Hall

After driving our Thanks, Martie. expanding channel accelerating We developing sales on business, Sentryx and open new product our year key end and up development, to enhance platform call and on I control implementing capital we'll excellence, questions. markets and will full for operational for key XXXX. executing that, strategies. focused strategies and software and projects, which our the touch grow strategies, key expectations remain include sensing our

improvements, Much continues COVID-XX challenges. be the driving costs can intently through of focused to our of and pandemic manufacturing in are higher paid and operational to their to this we and due lives customers, continues suppliers significant provide impact directly higher employees, areas. leave costs measured on many the impact absenteeism employee While families.

the manufacturing believe indirect to quarter. we and performance during unfavorable contributed effects the However, our direct

of to continue impact the level vaccines to we expect Though teams of to costs with will our throughout communities an In be to core the healthy where our of many environment meet a first seeing products, We and lines. our regarding will that are remains on a their continue and focused manufacturing quarter this hopeful higher year-end. high time are delivering the finished employees environment levels the demand services normalized that their help to we pandemic year. the by operational products customers return Infrastructure uncertainty challenges for We from backlog. our there currently a pandemic, more

ability our months, cases communities second factors sales past of which the help over work, should there Based in and COVID-XX vaccinations on XX our to quarter, the due improve this be we uncertainty in profitability. a live While level sales will rate remains level our in increase and the the high in experience of pandemic. overall to of and net the

cost the As quarter and continue our year. our the for price are of to realized in and expect associated the throughout sequential to costs especially in year. with first products of impacts full the end higher the half raw the the at took in second inflation, experiencing infrastructure be of first price inflationary increase the covered higher-than-expected Martie inflationary cost second the anticipated quarter. of and the a in rest by actions Price We pressures increases material our in we benefit inflation from saw costs implementing in of quarter than the mentioned, first expect address materials. the we increase inflation increases more We quarter, to majority

manage the than will effectively of anticipate Our ratio, improved us we and year, cover for price the currently sales channel and price cost to strategies have inflation. cost more enabled that our

and Going forward, pressures inflationary address these we price closely will accordingly. watch

addressing developments solutions product utilities' new enabled prioritize critical products digitally commercialization and needs. focus and on Our efforts that most

Infrastructure portfolio incorporating software of are We expand our the to Infrastructure extensive and products. increasingly technology capabilities into product installed leverage our our base

more for hydrant. opportunities with We new our leak platform, orders existing received customers first Centurion Super will commercial which to our We to us portfolio are detection our for successfully the Sentryx smart and converting technology Sentryx metering recently existing software-enabled customers. provide software expand

Additionally, and and hydrant utilities smart industry we organizations. with projects water have pilot city with several ongoing training programs

expand the once digital manage products will very challenging their become We our we in that in solutions. utilities markets continued environment customer from first resilient. to momentum excited we the to essential end As our this market, an Infrastructure to be number experienced well growth platform gain the making Sentryx demand positioned portfolio, from benefited We distribution teams about the water of emerge our tool construction we be strong residential the market municipal end will progress I'm our adoption and due during pandemic. networks. on our end operating quarter. to Overall, believe digitally-enabled are for

inventory from the increased increase very demand market and As Builders strong quarter, distributors impact housing are of increasing in construction demand mentioned the believe inventories. single-family anticipated The XX% end our during by strong lot residential was the their this and as levels evidenced starts. pricing resulting year earlier, quarter a in we actions. anticipate

the market will the headwinds construction growth believe from to continue and experience side we residential that strong While some supply pandemic year. there are end this near-term challenges,

varying maintenance municipal overall to portion projects. the and to delays continues be the by remains of While existing degrees. market prioritize end to resilient, market network impacted critical continue customers Municipal project infrastructure the

not projects, While any see approvals in the some we to we continue are implementation or of cancellations. delays new seeing

the will challenged market remain municipal expect to pandemic. impacts to adjust the water of that the as the budgets project-related portion continue from We

of leak detection some products. product impacts this specialty and Mueller, like our For categories metering, valve

stimulus can discuss networks. XXXX. address now municipalities get distribution for election aging expectations this will we federal our we will are to efforts that Now they past continue cycle, the so hopeful remain through period help relatively additional challenging that I their current quickly,

uncertainty start had remains a we high to pandemic. Although of a that year, there we are level the great reminded daily the regarding

in anticipate we offset pandemic. construction the XXXX, end than the resulting in more that project-related of from residential portion the strong delays market temporary growth For will municipal end the market any

takes our updated backlog for end quarter inflation. our addition, and annual price first current account strong into performance, In guidance markets, expectations our and

between our and raising net consolidated and guidance net growth between X% to are guidance for as higher. sales We X% X% previous to be for sales compared to be annual our flat

X% adjusted growth We are EBITDA also increasing our compared X% expectations with for year. the between to prior be and

continue experience conversion margin as at our we time the that expectations resulting moderating cost year, from we will expect are challenges We this inflation. operational the throughout higher pandemic and will

Finally, expect we positive cash generate free continue full year. to the for to flow

in that and year members' challenges of Our highly the with expectations the be by In our and remain summary, to I compared this team XXXX the pandemic's our extremely ability lessens fellow communities impressed impact the half confident their period. uncertainty fiscal continue as environment. I year during of navigate dedication customers, members. in assume to team second to prior

pandemic exceptional our and Our be to our our increasing products to delivering keeping flow. protecting cash top customers communities, continue priorities will employees during and safe, support the

Finally, approach questions. maintain reinvesting operator, allocation to And cash our balance open sheet in for we continue we our and this take to focus business, balanced accelerating through a on capital that, shareholders. strong call with growth strategies, please acquisitions as and to returning will a

Operator

Instructions]. [Operator

Oppenheimer. with First from the question Bryan Blair is queue in

Bryan Blair

order or timing? Can approximate you of in the the benefit shift profit top line customer

John Hall

time, Customer order did you say?

Bryan Blair

timing, pull shipments? of the the Just order forward

John Hall

something in all immaterial Yes. in in in of build. it the I $XX the forward The million, it's I we say because, was the $XX November. think magnitude price backlog frankly, pull really that. increase But It's almost difficult. effective December, million, like would was that was announced

saw I in And distributor the taking think we the what market was plus of combination inventory going into what that the through sales so was back growth.

certainly, So I in market our think that growth, year. - had was of than heavy because was our growth last greater but QX the we destocking

Bryan Blair

could Top price help think you you mean, I hoping cover unrevised expected. year. start color. bit than obviously, better forward. is was than level line strong will Appreciate a momentum to inflation had I a set And the guidance. it. going you more Got on us the

you're kind implied Looking expecting QX margin flattish outlook, at through year-on-year. of EBITDA QX

but So be color a parts I are related understand Any that strikes lot would appreciated. me as of there here. conservative, moving

John Hall

I we term, pieces near our Look, the far. to in think is QX at that going big have the to be comp by look is toughest

you quarter, If year, our think growth over double-digit had about last QX pre-pandemic 'XX. the last we

employees that again, is on margin the we What with inflation pre-pandemic in with we've what that of QX absenteeism. increased of feel on rational had hours pure show that to associated long people thinking are I in on component be struggled increases, that week to these is need That that, costs conversion indexes the market's think what accommodate. something do costs the sustainable with I some think run. QX. the bigger associated items not to work double-digit will much pandemic But up the as is was manufacturing all indirect have fiscal So that as a degree we're going see increased raw inefficiencies really in about. our the high what our some the to floor. is issue and costs the We that the XX to in confident we materials, market going

less kind becoming get when efficient start You that over XX-hour you of mark.

with So outlook. have kinds to of sync people different are sustained separating forecast. pandemic have our having into our of in being all the baked machines, the costs things, because operators those impacts of we take - times, not associated break That's

penetration that assume forecast. from we've the a our I late it, and And That's the won't Potentially you assumed were early constructed fall. of real that to you kind very think we until that majority about think of get summer. if how level how at vaccine employees can be the that's so rate Bryan, about meaningful blunt we

Operator

Dray question Capital the in with Deane Markets. from Next queue RBC is

Deane Dray

- sizing either additional in quarter? color increases. the Was there distributors same budget-flush appreciate pull-in you else kind sort anything call activity? what unusual or I and the restocking on of potential the seasonally the of would out the price from Any that

John Hall

Yes.

driver. I the that, main was that think

the call I going a in December been XX%. more but QX I in little I down of so there you think we our that November, October, discussed on relatively has time frame, as mild, a adjustment, ultimately, year, seasonal end last were previous bit construction that North and the think, at the maybe

have If you the that channel million it $XX what where seen million think you we inventory. math, $XX did restocking. the a give I the probably saw like was I out I'm that or I piece took that. that of not of case. seeing - And the or huge shifts - want market, anything outperformed certainly, not impression is we're to don't the That and not anybody share

I Southwest, strength a a may in been or event. we have stronger in have QX stronger think Southeast where been in any may tend little we to have little the in the

the be So growth attribute of benefit many areas, in of migration can as calls, And there. that's the where the to we've good better-than-market there in to. really continues all just economic I talked exposure being people and

Deane Dray

volume by I you in seeing helpful. I All on what the - struck And right. meter That's like say. was Technologies, didn't and was uptick

say about from didn't delays You site anything coming access.

timing were projects? does what actually do sort is of the you of those orders, installed? terms the of meters get maybe but to that So able And in the volume to

John Hall

then have the shape the and changes, our in If big QX growth we'll If we benefit so, in, sorry, past installs good to the announcements had be take year-over-year the the movers in good News, or for those if you certainly, access rate load-in, looks be a would the QX. continue like us, assumptions QX, over Technologies in of think in and that of we'll the but access Beach have load-ins QX about And remain then others, go. forward year basis. the slower. Newport look going on a for on loaded - for target, remains everything quarter Newport course, projects that Well, we continue in the

Deane Dray

just staying about also of know But smart And been it was the I my San understanding already have smart has maybe there's significant the José deployed talked Technologies, helpful. number Centurion their glowingly hydrants in model. real hydrants. experience That's not a it's with that already,

So kind the just in of And what's this next there's field level product? phase the - set the if for now? what's

John Hall

Okay.

have acoustics-enabled pressure pressure-control acoustic, infrastructure penetration, technology infrastructure. the doing of the XX,XXX-ish, midnight that kind where deployed, amount networks, XX,XXX-ish much also to times, We've water have and we approximately during hydrants than of continues that put very as monitoring getting earlier utilities leaky try they minimize valves, their hammer well. So when their pressure-sensing reviews to X thing and they to with good kind also to very begun and is the do use hydrants in damage and of idle really loss a.m. pressure-relief to know water and old valves, is while

And commercialized kind so right the that out of are now. there those are X

depending what smart Bluetooth trials data is was pressure it that, in it, transmit information, or and back Now and acoustic then addition it, to feet Super large of, in read monitoring the the be third it all from via I actually is you several and assimilate hydrant either going. literally we've will, hundreds let's for within and if of come know in and to referencing of water smart gotten orders generation our and And integrate the we hydrants, will my collect that XXX it networks able comments monitoring in that monitoring and that instead long, Super centers Centurion that systems actually will to these an accommodated We with quality interfaces see up infrastructure, our monitoring smart the got infrastructure, so quality, hydrant. temperature, to to there things, water on of that architecture we start that a written And these monitoring, of to, take industry, health place. industry will closed rapidly worried of you're anticipate out respond with Sentryx, revolutionize for of and because with then content, way more that be acoustics prepared ecosystem infrastructure devices was bursts the have whether to all as Centurion able asset of microservices, have hub. the and the communications about first management we it age that a quality, pressure along going in-source, with kind grows can carbon we've to monitoring water PAN that you for of it's be water going the that we've there think up whether differentiated you're and has an you've call to

believe Super to I information the positioned hub that hydrant hydrants, to win so in in and technology-enabled going both collection that to we as user continue And in in valves as sensor future, back, ensure, sensors. out for Centurion from network be a to smart infrastructure very Sentryx well frankly, bring there interface are the

Deane Dray

is one, these appreciate That just blind fabulous. clarify, just it the I that. to replace Super upgradable last gets like solve to pipe can it field in get units? it - And and are right. All how explanation utilities network, of really We I have was Centurion, able - the deployed? does we're that existing spot that terms in the the

John Hall

correct. is That Yes.

Deane. So thank you, Yes.

is, electronic top cap. to and the us take the out to of hydrant? XXXX will cap, if and answer be the a on everybody hydrant, we go what a want was insert smart replace do is, inners the change provided the able about by call, talking you the to time every and your inners bonnet hydro hydrant new very then For And we're post remove or the you have to Sentryx-enabled

made be cost hole, you So have basically you'll to a don't take your won't able Super - can to Centurion down. and capital post XXXX, have any your hydrant retrofit to you way dig change

Operator

queue from Joe from question Cowen. is the from Giordano Next

Robert Jamieson

This you is the give the there any saw changes if of OpEx? rest noting? us refresh both to CapEx last municipal budget a for wanted and worth year see on expectations your And are what I Robert just else or you little quarter anything Jamieson. from guys could

Marietta Zakas

$XX we the that look full $XX expenditures importantly, came because took XXXX, for our focus No reminder at expenditures a took our outlook just pandemic some at into the guidance to for timing we year. looking we for capital the in I'll pushed brass before. the you in expenditures. our we for year. largely out million hard overall, preserve therefore, we the say, of liquidity when year, associated lower I'd what change to throughout in most were on ways We're expected the the being, was and decision capital about provided capital looking but that from expenditures foundry by did we give So with And our action our a of to made Decatur. that million

discussed So well we Kimball, million, now $XX have Tennessee. brass would that that as $XX the remain XXXX, as of projects foundry to that before that as certainly, that take for large look roughly out portion we are expectations And to underway million. be the will a good

Robert Jamieson

from to I of just technology-enabled kind post you accelerate municipalities rollout might of with potential do that on to the from the you XXXX? budgets think How that? then a bill, views once Deane's you new normalize know just think on And administration help coming Okay. your in. start do follow-on benefit And question. maybe solutions want infrastructure could

John Hall

Yes.

two answer to ways. solutions One, I digital utilities that going driver to So is that think faster adopting be kind at start a the of for pace. pandemic a water

roll a meter; go samplings things having roll that to to a read a a truck idea a go that a, roll to everybody are valve, a b, hydrant, going do flush truck to go I or to having exercise reexamine. is think of truck having the

that water, have But additional point their the in industries pretty see very I'm the you repair Is over saying the address hopeful to is to time. federal to the It of - in stimulus we're pandemic. work? that do With if infrastructure, best think actual look people all I I for to at think it something industry transform thesis been how past in notion near Congress we're is continue. going this probably I'm of way that work? passes no going return pretty general, to regard do that public the that in term,

as term, pass West water a critical not Coast. wastewater longer hopeful infrastructure, for is addresses and need. a any things I especially remain think and These of I can that be management, on investment but needs I infrastructure And believe are bill around all bridges that drinking infrastructure roads infrastructure rain Congress any just positive. comprehensive water awareness we will the society, as more water money positive that that think, we impacts that the well. some

rebuild the the think water that could assets we of share most I ourselves, an of getting companies invest fair great think like doing stimulus. a manage be to I been utilities provides bill beneficial like funding and job networks as our industry, to Mueller. to have don't technology in

I think is back ARRA, and some opportunity go there ARRA think effective you for get benefit in same they bridges guys us back a if saw to basically of they roads an the had XXXX, have together where that I and that from that very the band lobby. to you

people. that doing quality. believe real American And others I get aside very water need and acutely we And need very yes, XXXX. comes, we serious in so good I think we PFAS, entertain I water, set the about we about to if critical get some of really think actively actively involved that serious to that storm and we our are believe because water aware very build Infrastructure wastewater that water a would help infrastructure and in projects get management they're will be to to have that. I have

as of to do of basically income people, have to that. clean the everyone. a drinking So available strata, drinking that the can - we need basic And need water fresh country regardless

trying So very be yes. set those for But very programs. bullish continue be in they term, get would and Congress good to aside us, active for we with the near to

Operator

[Operator Instructions].

John Hall

other? any it if there give is Well, that are commentary other I'll with some Okay. no closing there. I then questions, think go but second there we'll operator, a

the So today. to for joining with Thanks strong everybody I thank the pleased us. I'm want very year. the to call for start joining

a in underpinned get know I bit to to the and to want work better, what focus the for in keep certainly, and our commitment to been what in resiliency are results our up the got do them and their that and thought important their to what focused. anything market, of product make to all And and for be new things people and even is think being Americans, drove part, more safe. men line extra along good I by of flow Canadians XX-plus I work top commitment here, focus everything that confidence, know employees, percent we really inspired A customers, especially there. the of They Albertville. continues our going possible. that do but and pleasure us. couple position channel who exceeded upper the do important and facility some focus to you be our to other, Kimball, very is women had continue ago, optimistic, strong they our these end don't societies. - benefit growth their sell They their in. little of commitment sure I they it willing factories I market I've and the in And are to they each to then they're to I resi to were with engaged. think, to distribution do we little weeks the short. a know time I They've those and growth want could our the muni hourly think to

the in work women our deliver I think to despite men and for customers remain product and need and those our who committed we development. new But challenges, innovation essential to solutions thanks investments and we to products it's us. continue

very pandemic, with the CapEx. we there. the better said, we think on be Decatur." did faced "whoa! on come the well we the gas will pandemic, we So with product the in pedal positioned. it be we we kept easy And new we device foot brass When moderate on technology this products. But we've as as software would development, slow foundry CapEx development out on our slow integrating the us to believe Infrastructure slowed let's for of into I our burn development, expansion, I down

And credibility pandemic, to we're joining and strengthened reliability for I that performance long-term good. knowing building the I position market. our continue you perform has we're our you to normal during passing as to want each our I so possible. and the try again, I to want looks I us, all for believe leave future think, very And very, able but and as deliver think with in where be quarter, thank

So you the you can your continued with for I thank call. interest that, Mueller. in conclude And operator,

Operator

today's Thank call. you concludes This participation. your for

this time. You may at disconnect

Mueller Water Products (MWA) 4 Feb 212021 Q1 Earnings call transcript