SPRINGFIELD, Mo., July 31, 2026 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC: MUEL), a manufacturer of stainless steel processing equipment serving the food, dairy, beverage, pharmaceutical, and industrial markets, today announced earnings for the second quarter ended June 30, 2026.

A. The table below depicts the net revenue on a consolidating basis for the three months ended June 30.

The table below depicts the net revenue on a consolidating basis for the six months ended June 30.

The table below depicts the net revenue on a consolidating basis for the twelve months ended June 30.

The table below depicts the net income on a consolidating basis for the three months ended June 30.

The table below depicts the net income on a consolidating basis for the six months ended June 30.

The table below depicts the net income on a consolidating basis for the twelve months ended June 30.

B. The backlog as of June 30, 2026 remains strong at $208.3 million, compared with $234.2 million at June 30, 2025, with the majority in Industrial Equipment. The U.S. backlog was $193.9 million at June 30, 2026, versus $223.6 million a year earlier. In the Netherlands, the backlog increased to $14.6 million at June 30, 2026 from $11.3 million at June 30, 2025. For capital equipment manufacturers like Paul Mueller, backlog is a widely watched indicator of future revenue, as it represents contracted orders not yet completed or billed.

C. Revenue increased from the previous year by $21.2 million on a three-month basis and by $51.7 million for the trailing twelve months. Revenues in the U.S. rose $17.9 million for the three months and $35.8 million for the twelve months, with the gains primarily coming from the Industrial Equipment segment. In the Netherlands, revenues increased by $3.3 million on a three-month basis and by $15 million on a twelve-month basis.

Net income was flat year over year on a three-month basis and down $3.1 million on a twelve-month basis. In the Netherlands, earnings increased by $0.7 million for three months and by $3.4 million over twelve months.

Net income in the second quarter of 2026 was nearly as strong as in the same quarter of 2025. The performance was supported by the continuing high level of work in the company's pharmaceutical business and strong profitability in other markets. The company said its Dutch subsidiary was a standout, doubling net income from the prior-year quarter and operating primarily in the dairy farm market. Revenue in the second quarter was significantly higher, but net income as a percentage of revenue was lower. The company said the main factors behind the lower margin were an unusually profitable rush project in 2025 with no comparable project in 2026, startup activities in the new building, and continued reliance on contractors in 2026 to handle volume above internal capacity.

The company said its new module fabrication building is nearly full with active work, and much of the former module space in older buildings is still occupied by jobs being disassembled for shipment or waiting for customer sites to be ready. Without the new building, the company said it could not have maintained this level of work. The expansion effectively raised the company's production ceiling at a time when demand from pharmaceutical and industrial customers has kept utilization high.

D. The company said it manages its U.S. business by looking at earnings before tax (EBT) and excluding the effects of LIFO. This non-GAAP adjusted EBT, as shown in the table below, declined by $1.3 million for the three months, $7.8 million for the six months, and $8.3 million for the trailing twelve months.

E. On June 5, 2026, the tender offer announced on May 7, 2026 expired with 824 shares tendered for a total of $362,560. Paul Mueller trades over-the-counter, and the company periodically conducts small self-tender offers as a means of providing shareholder liquidity given the limited public float.

F. The consolidated financial statements are affected by the euro-to-dollar exchange rate when consolidating Mueller B.V., the Dutch subsidiary. The month-end euro-to-dollar exchange rate was 1.17 for June 2025, 1.17 for December 2025, and 1.14 for June 2026.

This press release contains forward-looking statements that provide current expectations of future events based on certain assumptions. All statements regarding future performance growth, conditions, or developments are forward-looking statements. Actual future results may differ materially from those described in the forward-looking statements due to a variety of factors, including, but not limited to, the factors described in the Company's Annual Report under "Safe Harbor for Forward-Looking Statements," which is available at paulmueller.com. The Company expressly disclaims any obligation or undertaking to update these forward-looking statements to reflect any future events or circumstances.

The accounting policies related to this report and additional management discussion and analysis are provided in the 2025 annual report, available at www.paulmueller.com.

Press Contact: Dan Winters | Paul Mueller Company | Springfield, MO 65802 | (417) 575-9000 | [email protected] |