Zurn Elkay Water Solutions Corp Stock Price, News & Analysis

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) reported a robust 55% increase in net sales for the first quarter of 2023, reaching $372 million compared to $240 million in Q1 2022. However, net income declined to $23 million, with diluted EPS at $0.13, down from $0.23 year-over-year. Adjusted EBITDA was $72 million (19.5% of net sales), a decrease from 21.7% in the previous year due to higher non-cash compensation and depreciation costs. The company remains committed to $100 million in share repurchases and has achieved $37 million thus far. For the second quarter, ZWS expects sales in the range of $385 million to $395 million, with adjusted EBITDA margins projected between 21.0% and 21.5%. Despite the solid sales growth, the decrease in income and margins could raise concerns among investors regarding profitability.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) will hold a conference call on April 26, 2023, at 7:30 a.m. Central Time to discuss its first quarter 2023 financial results and business updates. The earnings release will be available after market close on April 25, 2023. Participants can join via domestic toll-free and international numbers, with a live webcast accessible on the company’s investor relations website. A replay will be available until May 3, 2023. Zurn Elkay is headquartered in Milwaukee, Wisconsin, and focuses on water solutions to enhance health and safety, offering a diverse product portfolio for various applications.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) announced that Emma McTague has joined its board of directors effective March 15. McTague, previously at Oshkosh Corporation, brings extensive human resources expertise, focusing on employee engagement and wellbeing. Her appointment follows the upcoming retirement of John Stroup in May 2023, shifting the board composition to ten directors, with nine being independent and three women. The company emphasizes McTague's alignment with its mission of clean and safe water management, highlighting her potential contributions to board discussions.

Zurn Elkay Water Solutions Corporation (NYSE:ZWS) reported strong financial results for Q4 2022, with net sales up 46% to $340 million. The increase was primarily driven by acquisitions. Net income rose to $10 million from $3 million, yielding a diluted EPS of $0.06. Despite a 3% decline in core sales due to reduced residential demand, adjusted EBITDA increased to $65 million, representing 19% of net sales. The company announced a $500 million share repurchase plan amid expectations of $1.5 billion to $1.55 billion in total sales for 2023. Strong demand in non-residential markets and declining commodity costs are expected to bolster margins moving forward.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) has declared a quarterly dividend of $0.07 per share, to be paid on March 7, 2023, to shareholders on record as of February 21, 2023. This dividend reflects the company's ongoing commitment to returning value to its stakeholders while maintaining its focus on sustainable water solutions. Based in Milwaukee, Wisconsin, Zurn Elkay provides a diverse range of water-related products aimed at enhancing health and safety.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) will host a conference call on February 8, 2023, at 7:30 a.m. Central Time to discuss its fourth quarter 2022 financial results and provide a business update. The earnings release will be available after market close on February 7, 2023. Interested participants can access the call via domestic toll-free at 888-510-2359 or internationally at 646-960-0215. A replay will be available until February 15, 2023. Based in Milwaukee, Wisconsin, Zurn Elkay specializes in sustainable water solutions for various applications.