Welcome to our dedicated page for Zurn Elkay Water Solutions news (Ticker: ZWS), a resource for investors and traders seeking the latest updates and insights on Zurn Elkay Water Solutions stock.
Zurn Elkay Water Solutions Corporation designs, procures, manufactures and markets specification-driven water management products for public and private spaces. Its portfolio includes professional grade water safety and control products, flow systems, hygienic and environmental products, and filtered drinking water products.
Recurring news for ZWS covers quarterly and annual financial results, core sales trends, operating margin commentary, capital returns through dividends and share repurchases, and updates tied to the Zurn Elkay Business System. Company announcements also include sustainability and climate-recognition items that relate to its water management business and environmental positioning.
Zurn Water Solutions Corporation (NYSE:ZWS) reported third quarter net sales of $557 million, reflecting a 9% core sales growth compared to last year. Net income rose to $64 million, with diluted EPS of $0.51. Adjusted EBITDA was $128 million, or 23% of net sales. The company anticipates a strong fourth quarter, expecting total sales growth of high teens percentage and an Adjusted EBITDA margin between 24% and 24.5%. Zurn's successful spin-off from Rexnord positions it as a leading water solutions provider, aiming for double-digit core growth in 2022.
Zurn Water Solutions Corporation (NYSE: ZWS) has declared a quarterly dividend of $0.03 per share, payable on December 7, 2021, to shareholders on record as of November 19, 2021. This decision by the Board of Directors reflects the company's commitment to increasing shareholder value, backed by strong cash flow and low leverage. Zurn aims to balance dividend payments with investments in organic growth and strategic acquisitions to enhance its market position.
Zurn Water Solutions Corporation (NYSE: ZWS) will host a conference call on October 27, 2021, at 7:00 a.m. Central Time to discuss its financial results for Q3 2021, which will be released on October 26, 2021. The call will be led by Chairman and CEO Todd Adams and CFO Mark Peterson. Investors can access the call via telephone or through a live webcast on the company’s investor relations website. A replay will also be available after the live event until November 3, 2021.
Zurn Water Solutions Corporation (NYSE: ZWS) has successfully completed a spin-off of its Process & Motion Control business in a Reverse Morris Trust transaction. As a result, Zurn is now a standalone company focusing solely on water solutions, with shares trading under the ticker symbol 'ZWS.' The company aims to address global water challenges with innovative technologies, enhancing safety, conservation, and efficiency. Stockholders received 0.22296103 shares of Regal common stock for each share of ZWS. Zurn emphasizes sustainability and value creation for stakeholders.
Regal Rexnord Corporation announced the completion of its merger with Rexnord Corporation's Process & Motion Control Business, enhancing its industrial power transmission capabilities. The merger, effective October 5, 2021, positions Regal to realize significant synergies, projected at $120 million over three years, and aims for adjusted EBITDA exceeding $1 billion for 2022. Regal will now focus on energy-efficient products, benefiting from a broader market reach and enhanced digital capabilities. Shareholders will receive a special cash dividend of $6.99 per share, amounting to approximately $284 million.
Regal Beloit Corporation (NYSE: RBC) and Rexnord Corporation (NYSE: RXN) announced the anticipated completion of their merger on October 4, 2021, via a Reverse Morris Trust transaction. Post-merger, Regal will be rebranded as Regal Rexnord Corporation trading under the symbol RRX, while Rexnord will become Zurn Water Solutions Corporation trading under ZWS. Both companies aim to enhance their operational efficiencies and market positions through this strategic alliance. Further details will be provided in the coming weeks.