Zurn Elkay Q3: sales +3%, adj EBITDA margin 25.6%, raises FY guidance, dividend up 13%

Zurn Elkay Water Solutions Corp

2024-Q3 EPS reported $0.71 revenue$1,195,800,000

Net sales $410M (+3% core sales); net income $44M ($0.25 EPS) vs $35M ($0.20) YoY.
Adjusted EBITDA $105M (25.6% margin) vs $96M (24.1%) - 150 bps expansion.
Raised quarterly dividend 13% to $0.09/share; repurchased 1.6M shares for $50M in quarter.
Full year adjusted EBITDA guidance raised to ~$387-389M; margin expansion now 250-270 bps (prior 200-250).
Free cash flow YTD $217M; FY outlook raised to ~$260M. Net debt leverage at all-time low 0.8x.

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