earnings
confidence high
sentiment positive
materiality 0.85
Zurn Water Solutions Q1 sales up 17% to $240M; adjusted EPS $0.24 vs $0.13; Elkay merger announced
Zurn Elkay Water Solutions Corp
2022-Q1 EPS reported
$0.24
revenue$239,600,000
- Net sales $239.6M, up 17% YoY; core sales up 15%; net income $29M vs $10M.
- Adjusted EPS $0.24 vs $0.13; adjusted EBITDA $52M (21.7% of sales) vs $44M.
- Excluding corporate costs, adjusted EBITDA margin 24.5% vs 26.0% last year.
- Entered definitive agreement to combine with Elkay Manufacturing; close expected early Q3 2022.
- Q2 2022 outlook: sales up low-to-mid teens, adjusted EBITDA margin ex corp costs 24.5%-25.0%.