Zurn Elkay Q2 net sales +17% to $284M; completes Elkay combination

Zurn Elkay Water Solutions Corp

2022-Q2 EPS reported $0.52 revenue$523,800,000

Net income $36M ($0.28 diluted EPS) vs $21M ($0.17) a year ago; adjusted EPS $0.32 vs $0.22.
Completed combination with Elkay on July 1, 2022; anticipates $50M synergies by 2025.
Increased quarterly dividend from $0.03 to $0.07 per share.
Q3 outlook: Zurn sales high-teens growth; Elkay sales $145-155M; consolidated adj. EBITDA margin 21-22%.
Net debt leverage 2.0x as of June 30; management targets leverage near 1x by year-end.

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