secwatch.observer — SEC 8-K summary
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Issuer:     Zurn Elkay Water Solutions Corp (ZWS)
CIK:        0001439288
Form:       8-K
Filed at:   2024-04-23T23:59:59+00:00
Accession:  0001439288-24-000077
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1439288/000143928824000077/0001439288-24-000077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1439288/000143928824000077/zws-20240423.htm
  HTML page:      https://secwatch.observer/filing/0001439288-24-000077

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