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Mueller Water Products meets 2Q profit forecasts

ATLANTA (AP) _ Mueller Water Products Inc. (MWA) on Thursday reported fiscal second-quarter profit of $73.3 million.

The Atlanta-based company said it had net income of 45 cents per share. Earnings, adjusted to account for discontinued operations, were 9 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 9 cents per share.

The maker of fire hydrants, pipes and water valves posted revenue of $199.7 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $206.6 million.

Mueller Water Products shares have dropped almost 5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.68, a rise of 17 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MWA at https://www.zacks.com/ap/MWA

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Keywords: Mueller Water Products, Earnings Report