Zurn Elkay Q1 adjusted EBITDA up 24% to $90M; margins expand 460 bps; guides higher

Zurn Elkay Water Solutions Corp

2024-Q1 EPS reported $0.19 revenue$373,800,000

Net sales $374M (+0.5% YoY); core sales flat due to 400 bps impact from planned residential sink product exits.
Adjusted EPS $0.29 vs $0.18; net income $34M ($0.19 diluted) up from $23M ($0.13) in Q1 2023.
Adjusted EBITDA $90M (24.1% margin) vs $72M (19.5%) — 460 bps YoY improvement from Elkay synergies and cost actions.
Full-year adjusted EBITDA margin expansion now expected at 150-200 bps; Q2 outlook calls for 24.5%-25.0% margin.
Repurchased $19M of shares (0.6M shares); net debt leverage at all-time low 0.9x; generated $50M free cash flow in Q1.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Zurn Elkay Water Solutions Corp updated its the quarter ended March 31, 2024 guidance (reaffirmed).

Period: the quarter ended March 31, 2024
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Zurn Elkay Water Solutions Corporation (the "Company") is filing this Current Report on Form 8-K to furnish its earnings release dated April 23, 2024, regarding its financial results for the quarter ended March 31, 2024, which is furnished herewith as Exhibit 99.1.

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Source: SEC EDGAR

accession 0001439288-24-000077

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