MWA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• On February 9, 2026, Ms. Marietta Edmunds Zakas retired as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors. Mr. Paul McAndrew started serving as the Company’s President and Chief Executive Officer on this date.

• In October 2023, the Israel-Hamas war caused a temporary shutdown in our facility in Ariel, Israel. We reopened the facility in November 2023, but the war caused supply chain challenges that reduced the manufacturing efficiencies for our products

• Gross profit for the three months ended March 31, 2026 was $144.5 million as compared with $128.0 million in the prior year period, an increase of $16.5 million or 12.9%. Gross margin was 37.6% in the three months ended March 31, 2026 as compared with 35.1% in the prior year period. Gross margin inc…

• across most product lines, manufacturing efficiencies, and higher volumes. Gross profit was negatively impacted by increased tariffs as well as approximately 4% inflation.

• Selling, general and administrative expenses (“SG&A”) for the three months ended March 31, 2026 were $59.7 million as compared with $55.7 million in the prior year period, an increase of $4.0 million or 7.2%, primarily due to unfavorable foreign currency exchange and inflation of approximately 4%. S…

Text removed vs the prior filing · source: 10-Q · 2026-02-05

• On November 6, 2025, we announced that Ms. Marietta Edmunds Zakas will retire as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors, effective as of February 9, 2026 (the “Transition Date”). In

• connection with Ms. Zakas’ retirement, the Company’s Board of Directors appointed Mr. Paul McAndrew as President and Chief Executive Officer, effective as of the Transition Date.

• Gross profit for the three months ended December 31, 2025 was $119.8 million as compared with $103.0 million in the prior year period, an increase of $16.8 million or 16.3%, primarily as a result of favorable pricing, manufacturing efficiencies largely driven by the legacy brass foundry closure in D…

• Selling, general and administrative expenses (“SG&A”) for the three months ended December 31, 2025 were $59.8 million as compared with $53.9 million in the prior year period, an increase of $5.9 million or 10.9%, primarily due to higher personnel-related expenses, inflation of approximately 3% and u…

• Strategic reorganization and other charges for the three months ended December 31, 2025 were $3.3 million and consisted primarily of severance and expenses associated with our leadership transition. Strategic reorganization and other charges for the three months ended December 31, 2024 were $1.7 mil…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Tariffs and trade restrictions, including Section 232 tariffs on steel and aluminum, have adversely impacted and may continue to adversely impact our business, results of operations, and financial condition.

• The Company is subject to significant tariffs and trade restrictions imposed by the United States on foreign imports, including on specific commodities used in our operations, such as steel, aluminum, and copper, as well as retaliatory measures by impacted foreign countries. In 2025, the U.S. govern…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Ms. Marietta Edmunds Zakas, the Company’s former Chief Executive Officer, adopted a written trading plan on February 26, 2026. The trading plan begins on May 28, 2026, and ends on March 31, 2027. The trading plan is intended to satisfy the affirmative defense conditions of the Exchange Act Rule 10b5…

• These trading plans were adopted during an open trading window.

• No other Section 16 officer or director, as defined in Rule 16a-1(f), adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Item 408 of Regulation S-K, during the three months ended March 31, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-02-05

• This trading plan was adopted during an open trading window.

• No other Section 16 officer or director, as defined in Rule 16a-1(f) adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as defined in Item 408 of Regulation S-K, during the three months ended December 31, 2025.