Zurn Water Solutions Corporation ( (ZWS) ) has realeased its Q3 earnings. Here is a breakdown of the information Zurn Water Solutions Corporation presented to its investors.
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Zurn Elkay Water Solutions Corporation is a Milwaukee-based company focusing on sustainable water management solutions, offering products that enhance health, hydration, and environmental safety. In its third quarter of 2024, Zurn Elkay reported net sales of $410 million, marking a 3% increase from the previous year, alongside a rise in net income from continuing operations to $44 million. The company’s adjusted earnings per share also improved to $0.34 from $0.29, while adjusted EBITDA rose to $105 million, reflecting a strong performance despite challenging market conditions.
Key financial highlights include a 13% increase in quarterly dividends and a $50 million stock repurchase, demonstrating the company’s commitment to returning capital to shareholders. Zurn Elkay’s net debt leverage achieved an all-time low of 0.8x, showcasing its robust financial health. The company also marked the two-year anniversary of its Elkay transaction, noting improved synergies and a record-high consolidated EBITDA margin of 25.6%.
Looking ahead, Zurn Elkay anticipates a slight increase in core net sales for the fourth quarter and projects adjusted EBITDA between $88 million and $90 million. The full-year adjusted EBITDA is expected to reach approximately $387 million to $389 million, with a further increase in free cash flow outlook to $260 million, underlining the company’s confidence in its strategic direction and operational efficiencies.
