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February 29, 2024
Steven Heinrichs
Chief Financial Officer
Mueller Water Products, Inc.
1200 Abernathy Road N.E.
Suite 1200
Atlanta, GA 30328
Re:Mueller Water Products, Inc.
Form 10-K for Fiscal Year Ended September 30, 2023
Form 10-Q for Fiscal Quarter Ended December 31, 2023
Form 8-K filed February 8, 2024
Dear Steven Heinrichs:
            We have limited our review of your filing to the financial statements and related
disclosures and have the following comments.
            Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
            After reviewing your response to this letter, we may have additional comments.
Form 10-K for Fiscal Year Ended September 30, 2023
Management's Discussion and Analysis of Financial Condition and Results of Operations, page
27
1.You disclose here, and in quarterly filings, that you have experienced inflationary cost
increases and anticipate inflation in raw and other material costs in fiscal 2024. Please
revise MD&A in future annual and quarterly filings to quantify the impact of the
inflationary pressures you experience and the resulting impact to your cost of sales, gross
profit, operating expenses, and inventory. In addition, please expand your disclosures to
identify actions planned or taken, if any, to mitigate inflationary pressures.

 FirstName LastNameSteven Heinrichs
 Comapany NameMueller Water Products, Inc.
 February 29, 2024 Page 2
 FirstName LastName
Steven Heinrichs
Mueller Water Products, Inc.
February 29, 2024
Page 2
Form 10-Q for Fiscal Quarter Ended December 31, 2023
Management's Discussion and Analysis of Financial Condition and Results of Operations
Overview, page 22
2.You disclosed that the October 2023 cybersecurity incident resulted in operational delays
and also investigation and remediation costs, which adversely impacted the results for the
first quarter of 2024. We also understand that the incident limited your ability to take
orders, invoice third parties, and ship products. Please tell us, and quantify in future
filings, the impact that the incident had on your net sales and product volume sold. Refer
to Item 303(c) of Regulation S-X.
Form 8-K filed February 8, 2024
Exhibit 99.1
General
3.We note that in the bulleted list, the consolidated results, and the tables of Segment
Results and Reconciliation of Non-GAAP to GAAP Performance Measures, you present
consolidated adjusted EBITDA margin, but do not present the most directly comparable
GAAP measure, net income margin, with equal or greater prominence. In future filings,
for each non-GAAP financial measure you present, please present the most directly
comparable GAAP measure with equal or greater prominence in accordance with Item
10(e)(1)(i)(A) of Regulation S-K.
Segment Results and Reconciliation of Non-GAAP to GAAP Performance Measures
4.In future filings, please present a reconciliation of adjusted net income per diluted share to
net income per diluted share, the most directly comparable GAAP measure. Refer to Item
10(e)(1)(i)(B) of Regulation S-K.
            In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
            Please contact Dale Welcome at 202-551-3865 or Kevin Stertzel at 202-551-3723 with
any questions.
Sincerely,
Division of Corporation Finance
Office of Manufacturing