Zurn Elkay Q3 2024 Earnings Report
Key Takeaways
Zurn Elkay Water Solutions reported a 3% increase in net sales to $410 million, with a 3% core sales growth. Net income from continuing operations rose to $44 million, with diluted EPS at $0.25. Adjusted EPS increased to $0.34, and adjusted EBITDA reached $105 million, representing 25.6% of net sales. The company also deployed $50 million to repurchase 1.6 million shares and increased the quarterly dividend by 13%.
Net sales increased to $410 million, a 3% year-over-year increase.
Net income from continuing operations was $44 million, or $0.25 diluted EPS.
Adjusted EPS was $0.34, compared to $0.29 in the prior year.
Adjusted EBITDA was $105 million, representing 25.6% of net sales.
Zurn Elkay
Zurn Elkay
Forward Guidance
For the fourth quarter, the company expects core net sales to be up low single digits and adjusted EBITDA to be between $88 million and $90 million. The full year adjusted EBITDA is expected to be approximately $387 million to $389 million, resulting in an adjusted EBITDA margin expansion of 250 to 270 basis points. The full year outlook for free cash flow is increased to approximately $260 million.