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.
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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.