Zurn Elkay Water Solutions Corporation - ZWS STOCK NEWS

Zurn Elkay Water Solutions Corporation (NYSE:ZWS) reported third-quarter 2022 results, showing a significant 82% increase in net sales to $418 million from $230 million year-over-year. The net loss from continuing operations was $(19) million (diluted EPS of $(0.11)), compared to income of $16 million (diluted EPS of $0.13) last year. Adjusted EPS rose to $0.26 from $0.19. EBITDA was $84 million (20.0% of net sales), and net debt leverage stood at 1.6x. Looking ahead, the company expects sales in Q4 between $350 million and $365 million, anticipating challenges in the residential sector.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) has declared a quarterly common stock dividend of $0.07 per share. This dividend is payable on December 7, 2022, to stockholders of record as of November 18, 2022. The company focuses on sustainable water solutions, emphasizing health, hydration, and safety. Zurn Elkay is headquartered in Milwaukee, Wisconsin, and aims to provide a wide range of products for water management in both public and private spaces.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) will hold a conference call on October 26, 2022 at 7:30 a.m. CT to discuss its third quarter 2022 financial results and answer investor questions. The earnings release for the quarter ending September 30, 2022 will be published after market close on October 25, 2022. Interested parties can join via phone or access the live webcast on the company's investor relations website. A replay will be available until November 2, 2022.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) reported strong second-quarter 2022 results, with net sales rising 17% to $284 million year-over-year. Net income from continuing operations reached $36 million, representing diluted EPS of $0.28. Adjusted EPS was reported at $0.32. The company's successful merger with Elkay Manufacturing is expected to double business size over the next few years, aiming for $50 million in synergies by 2025. The Q3 outlook anticipates high-teens sales growth and an Adjusted EBITDA margin between 21% and 22%.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) announced a quarterly dividend of $0.07 per share, payable on September 7, 2022, to stockholders on record by August 19, 2022. This represents more than a twofold increase from their initial quarterly dividend, demonstrating the company's commitment to shareholder value. According to CEO Todd A. Adams, strong cash flow and low leverage enable continued dividend payments while supporting organic growth and strategic acquisitions.

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) will host a conference call on July 27, 2022, at 7:30 a.m. CT to discuss its second quarter 2022 financial results and provide a business update. The earnings release will be available after market close on July 26, 2022. Investors can access the call via telephone or through a live webcast on the company's investor relations website. A replay will be available until August 3, 2022. Zurn Elkay focuses on sustainable water solutions, offering a broad range of products.

Zurn Water Solutions Corporation (NYSE: ZWS) has successfully merged with Elkay Manufacturing Company, enhancing its position in the commercial drinking water solutions market. This merger, aimed at creating value for stakeholders, will leverage Elkay's strong brand and product offerings. Elkay shareholders will own approximately 29% of the combined entity. The integration is projected to generate $50 million in synergies, enabling Zurn Elkay to advance sustainability initiatives while reducing costs. The company continues to operate from its Milwaukee headquarters under the leadership of Todd A. Adams.

Zurn Water Solutions Corporation (NYSE: ZWS) announced that stockholders approved the issuance of shares necessary to complete its combination with Elkay Manufacturing Company. Elkay stockholders will receive up to 52.5 million new Zurn shares. Additionally, Zurn's stockholders voted to increase the number of shares available for the Performance Incentive Plan by 1.5 million. The transaction is expected to close early in Q3, aligning with ongoing integration planning efforts aimed at realizing significant synergies.

Zurn Water Solutions Corporation (NYSE: ZWS) will participate in the KeyBanc Capital Markets' 2022 Industrials & Basic Materials Conference on June 1, 2022. Headquartered in Milwaukee, Wisconsin, Zurn is a growth-oriented water business offering a comprehensive range of solutions focused on health, safety, and environmental sustainability. The company's portfolio includes water control, distribution, drainage, and plumbing products. For more information, visit www.zurnwatersolutions.com.