earnings
confidence high
sentiment positive
materiality 0.80
Zurn Elkay Q2 adjusted EPS $0.33 beats prior year $0.24; raises FY margin guidance
Zurn Elkay Water Solutions Corp
2024-Q2 EPS reported
$0.46
revenue$785,800,000
- Net sales $412M (+2% core); net income $45M ($0.26 diluted EPS) vs $33M ($0.19) YoY.
- Adjusted EBITDA $104M (25.3% margin) up from $87M (21.6%) YoY; adjusted EPS $0.33.
- Repurchased 1.9M shares for $61M in Q2; net debt leverage 0.9x all-time low.
- Q3 outlook: low single-digit core sales growth, adj. EBITDA margin ~25%.
- Raised FY adj. EBITDA margin expansion guidance to 200-250 bps; FY FCF >$250M.