Zurn Elkay Water Solutions Corp Stock Price, News & Analysis

Zurn Water Solutions Corporation (NYSE: ZWS) announced a quarterly common stock dividend of $0.03 per share, payable on June 7, 2022, to shareholders of record as of May 20, 2022. Following the completion of the Elkay Manufacturing transaction, the Board plans to increase the dividend to $0.07 per share. This move reflects Zurn's commitment to enhancing shareholder returns and positioning itself as a growth-oriented water solutions provider.

Zurn Water Solutions Corporation (ZWS) reported a strong first quarter with net sales increasing 17% to $240 million, driven by 15% core sales growth. Net income rose to $29 million, yielding a diluted EPS of $0.23, up from $10 million and $0.08 in the prior year. Adjusted EBITDA was $52 million, equating to 21.7% of net sales. The company announced a merger with Elkay Manufacturing, expected to close in Q3 2022, enhancing its product offerings and growth strategy. Guidance for Q2 projects low to mid-teen sales growth with stable adjusted EBITDA margins.

Zurn Water Solutions Corporation (NYSE: ZWS) will host a conference call on April 27, 2022 at 7:30 a.m. Central Time to discuss its Q1 2022 financial results and answer investor questions. The earnings release will be available after the market closes on April 26, 2022. The call will be led by CEO Todd Adams and CFO Mark Peterson. Interested participants can access the call via phone or through a livestream on the company's investor relations website. A replay of the conference will be available until May 4, 2022.

On February 13, 2022, Zurn Water Solutions (NYSE: ZWS) announced a definitive agreement to merge with Elkay Manufacturing in an all-stock transaction. This merger positions Zurn to own approximately 71% of the combined entity, named Zurn Elkay Water Solutions Corporation. The deal, valuing Elkay at $1.56 billion, aims to create a North American water solutions leader, enhancing growth potential in the drinking water sector with an estimated $50 million in cost synergies by 2025. A cash dividend increase is planned post-transaction.

Zurn Water Solutions Corporation (NYSE: ZWS) has announced a quarterly dividend of $0.03 per share, payable on March 7, 2022, to stockholders of record as of February 18, 2022. The company, headquartered in Milwaukee, Wisconsin, focuses on providing sustainable water solutions aimed at enhancing health and safety. Zurn’s diverse product offerings include water control, distribution, and drainage systems. This dividend declaration reflects the company's commitment to delivering value to its investors while supporting its growth trajectory.

Zurn Water Solutions Corporation (ZWS) reported a 23% increase in net sales for Q4 2021, totaling $232 million, aided by a 16% rise in core sales. Adjusted EPS rose to $0.22 from $0.09 year-over-year. However, net income from continuing operations dropped to $3 million, reflecting a $20 million loss on debt extinguishment. For 2021, total sales reached $911 million, up 22%, with adjusted EPS increasing to $0.77 from $0.50. Management expects high teens percentage growth in total sales for Q1 2022 and maintains a positive outlook for double-digit core growth in 2022.

Zurn Water Solutions Corporation (NYSE: ZWS) will hold a conference call on February 2, 2022, at 7:00 a.m. Central Time, to discuss its fourth quarter 2021 financial results. The financial report will be released after market close on February 1, 2022.

Chairman and CEO Todd Adams, along with Senior VP and CFO Mark Peterson, will co-host the call, which will also be available via a live webcast. A replay will be accessible from February 2 at 10:00 a.m. Central Time until February 9 at 10:59 p.m. Central Time.