SPRINGFIELD, Mo., Oct. 25, 2024 (GLOBE NEWSWIRE) -- Paul Mueller Company (OTC Pink: MUEL) (the "Company”) announces its third-quarter earnings of 2024. 

PAUL MUELLER COMPANYNINE-MONTH REPORTUnaudited(In thousands)            CONSOLIDATED STATEMENTS OF INCOME             Three Months Ended Nine Months Ended Twelve Months Ended September 30 September 30 September 30  2024   2023   2024   2023   2024   2023             Net Sales$62,085  $57,088  $178,111  $173,370  $233,897  $232,372 Cost of Sales 41,028   38,948   121,459   119,881   160,203   169,963         Gross Profit$21,057  $18,140  $56,652  $53,489  $73,694  $62,409 Selling, General and Administrative Expense 12,238   11,245   34,013   36,546   85,736   41,225         Operating Income (Loss)$8,819  $6,895  $22,639  $16,943  $(12,042) $21,184 Interest Expense 1 (83)  (82)  (256)  (259)  (347)  (346)Other Income 1 840   477   1,885   1,810   2,741   2,749 Income (Loss) before Provision (Benefit) for Income Taxes$9,576  $7,290  $24,268  $18,494  $(9,648) $23,587 Provision (Benefit) for Income Taxes 2,297   1,786   5,736   4,510   (4,306)  5,703 Net Income (Loss)$7,279  $5,504  $18,532  $13,984  $(5,342) $17,884             Earnings (Loss) per Common Share - Basic and Diluted$7.77  $5.07  $18.79  $12.88  $(5.28) $16.47             1. The elimination of intercompany interest was incorrect in the 2nd Quarter release causing interest income and interest expense to be overstated by the same amount, however, net income was still correct. For this financial presentation, the error was corrected as of June 30th so the three-month, nine-month and twelve-month interest income and expense would be presented correctly. 

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME        Nine Months Ended   September 30    2024   2023         Net Income$18,532  $13,984   Other Comprehensive Income (Loss), Net of Tax:     Foreign Currency Translation Adjustment 526   (275)  Comprehensive Income$19,058  $13,709        CONSOLIDATED BALANCE SHEETS        September 30 December 31    2024   2023         Cash and Cash Equivalents 2$16,030  $5,894   Marketable Securities 2 15,070   28,031   Accounts Receivable 31,363   25,166   Inventories (FIFO) 45,450   45,910   LIFO Reserve (21,461)  (21,774)  Inventories (LIFO) 23,989   24,136   Current Net Investments in Sales-Type Leases 35   27   Other Current Assets 6,262   3,537           Current Assets$92,749  $86,791         Net Property, Plant, and Equipment 45,890   42,011   Right of Use Assets 2,271   2,421   Other Assets 2,409   2,590   Long-Term Net Investments in Sales-Type Leases 604   456           Total Assets$143,923  $134,269         Accounts Payable$13,003  $11,041   Current Maturities and Short-Term Debt 648   640   Current Lease Liabilities 344   402   Advance Billings 22,696   27,383   Pension Liabilities 32   32   Other Current Liabilities 25,989   19,599