Rexnord Q2 net sales $568M (+21% core), adj EPS $0.58; PMC EBITDA outlook >$300M

Zurn Elkay Water Solutions Corp

2021-Q2 EPS reported $0.99 revenue$1,094,400,000

Q2 net sales $568M (+21% core sales YoY); adjusted EPS $0.58 vs $0.36 YoY; net income $73M ($0.59 diluted) vs $36M ($0.29).
PMC core sales +16%; adjusted EBITDA margin 24.2% vs 21.6% YoY; backlog +$60M; book-to-bill 1.10x.
WM core sales +29%; adjusted EBITDA margin 26.8% vs 29.1% YoY; management sees clear path to double-digit core growth.
PMC now expected to deliver >$300M EBITDA in 2021; Regal Beloit merger shareholder meeting anticipated in Q3.
Q3 outlook: WM sales high-teens% YoY increase, adj EBITDA margin 26-27%; PMC sales mid-teens% increase, adj EBITDA margin 23-24%.

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