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Dec 31, 2021
Zurn Elkay Q4 2021 Earnings Report
Zurn Water Solutions reported fourth quarter financial results, showcasing sales growth and strategic acquisitions.
Key Takeaways
Zurn Water Solutions reported a 23% increase in net sales to $232 million for the fourth quarter of 2021. Adjusted EPS was $0.22, and Adjusted EBITDA reached $45 million. The company completed the acquisition of Wade Drains and saw core sales grow by 16%.
Net sales increased 23% to $232 million compared to the previous year.
Net income from continuing operations was $3 million, or $0.02 diluted EPS.
Adjusted EPS was $0.22, up from $0.09 in the year-ago quarter.
Adjusted EBITDA was $45 million, representing 19.4% of net sales.
Zurn Elkay
Zurn Elkay
Forward Guidance
For the first quarter of 2022, Zurn expects total sales to increase by a high teens percentage year over year. Adjusted EBITDA margin, excluding corporate costs, is expected to range between 24% and 24.5%, with corporate expenses approximating $7 million. The company continues to expect double-digit core growth for 2022 with robust Adjusted EBITDA margins and strong free cash flow.
Positive Outlook
- Expects Zurn total sales to increase year over year by a high teens percentage.
- Adjusted EBITDA margin, excluding corporate costs, to range between 24% and 24.5%.
- Corporate expenses to approximate $7 million.
- Continue to expect double digit core growth for 2022
- Expects robust Adjusted EBITDA margins and strong free cash flow.