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Dec 31, 2024
Zurn Elkay Q4 2024 Earnings Report
Zurn Elkay Water Solutions reported fourth quarter and full year 2024 financial results, with net sales increasing by 4% and adjusted EPS rising to $0.32.
Key Takeaways
Zurn Elkay Water Solutions reported a solid fourth quarter with a 4% increase in net sales, driven by core sales growth across nearly all product categories. Adjusted EPS increased to $0.32, and adjusted EBITDA margin expanded by 100 basis points. The company also deployed $20 million to repurchase shares.
Net sales increased to $371 million compared to $357 million in the prior year's quarter.
Net income from continuing operations was $36 million, with diluted EPS of $0.21.
Adjusted EPS reached $0.32, up from $0.26 in the same quarter last year.
Adjusted EBITDA was $91 million, representing 24.6% of net sales.
Forward Guidance
Zurn Elkay anticipates low single-digit core sales growth for Q1 2025 and an adjusted EBITDA margin between 24.5% and 25.0%. For the full year 2025, the company expects core sales growth similar to 2024, adjusted EBITDA of $405 million to $420 million, and free cash flow of approximately $290 million.
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