earnings
confidence high
sentiment neutral
materiality 0.75
Zurn Elkay Q3 net sales up 82% to $418M; adjusted EPS $0.26; guides Q4 sales $350-365M
Zurn Elkay Water Solutions Corp
2022-Q3 EPS reported
$0.33
revenue$941,500,000
- Net sales $418M, +82% YoY; core sales +16%; acquired Elkay effective July 1, 2022.
- GAAP net loss $(19)M, EPS $(0.11); adjusted EPS $0.26 vs $0.19 prior year.
- Adjusted EBITDA $84M (20.0% of sales) vs $51M (22.2%) in prior year.
- Q4 guidance: sales $350-$365M, EBITDA margin 20%-21%; residential down ~20% YoY.
- Synergy target $50M, at least $25M expected in 2023; $10M residential product line exits planned.