Zurn Elkay Water Solutions Corporation (ZWS)

Business Insider Names Zurn Elkay Water Solutions to List of America’s High-Growth Companies 2026June 23, 2026 4:45 PM
Business Wire Zurn Elkay Water Solutions Corporation (NYSE: ZWS) has been named one of America’s High-Growth Companies 2026 for the first time by Business Insider and Plant-A Insights Group. Among the 500 companies on the list, Zurn Elkay is one of only 50 manufacturers and one of only six Wisconsin-based companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260623863437/en/

Newsweek Names Zurn Elkay Water Solutions to List of World’s Greenest Companies 2026June 15, 2026 4:43 PM
Business Wire Zurn Elkay Water Solutions Corporation (NYSE: ZWS) has been named one of the World’s Greenest Companies 2026 for the first time by Newsweek and Plant-A Insights Group. Among the 850 companies on the list, Zurn Elkay is one of only 61 in its industry and one of only seven Wisconsin-based companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260615182699/en/“At Zurn Elkay, we’re committed to delivering sustainable, innovative engineered water solutions that promote health and hydration, protect natural resources and keep people safe in a wide array of markets,” said Todd A. Adams, Chairman and CEO of Zurn Elkay Water Solutions. Zurn Elkay has been named one of the World’s Greenest Companies 2026 for the first time by Newsweek and Plant-A Insights Group. “At Zurn Elkay, we’re committed to delivering sustainable, innovative engineered water solutions that promote health and hydration, protect natural resources and keep people safe in a wide array of markets,” said Todd A. Adams, Chairman and CEO of Zurn Elkay Water Solutions. “For our 2,600 associates across the world, it’s gratifying to be recognized for continuous improvement in pursuit of protecting, conserving and managing clean water, both through our products and across our operations. We’re proud to make a difference for our customers, for our investors, for our communities and for our planet, following our guiding principle: Simply Do the Right Thing.” Newsweek’s World’s Greenest Companies 2026 is based on a comprehensive analysis of self-disclosed sustainability data of 8,000 companies, conducted by GIST Impact and Plant-A Insights Group, using an extensive assessment of public sustainability data collected across more than 25 parameters across four key categories of environmental performance: greenhouse gas (GHG) emissions, water usage, waste generation and sustainability data disclosure and commitments. Zurn Elkay’s sustainability work has also been recognized by Newsweek in its lists of America’s Greenest Companies (2025-2026) and America’s Most Responsible Companies (2021-2026). To learn more about Zurn Elkay Water Solutions and its sustainability efforts, including the company’s most recent sustainability report, visit zurnelkay.com/sustainability. About Zurn Elkay Water Solutions Named one of America’s Most Responsible Companies and one of the World’s Greenest Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME, Zurn Elkay Water Solutions is headquartered in Milwaukee, Wisconsin, and is a growth-oriented, pure-play water management business that designs, procures, manufactures and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Zurn Elkay product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products for public and private spaces. Learn more at zurnelkay.com. Cautionary Statement on Forward-Looking Statements Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Zurn Elkay Water Solutions as of the date of this release, and Zurn Elkay Water Solutions assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in our report on Form 10-K for the period ended December 31, 2025, as well as the Company’s subsequent annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business. View source version on businesswire.com: https://www.businesswire.com/news/home/20260615182699/en/ Media Contact:
Angela Hersil, VP - Marketing & Communications, Public Affairs and Sustainability
855-480-5050 or 414-808-0199, corporate.communications@zurnelkay.com Investor Contact:
Bobbi Belstner, VP and Controller
414-361-0122 Original: Newsweek Names Zurn Elkay Water Solutions to List of World’s Greenest Companies 2026

Zurn Elkay Water Solutions Announces Executive PromotionsMay 27, 2026 4:15 PM
Business Wire Zurn Elkay Water Solutions Corporation (NYSE: ZWS) announced today the promotion of Dave Pauli, 44, to the position of Chief Operating Officer (COO), reporting to Todd A. Adams, Chairman and CEO. Pauli will oversee all of the company’s operations, supply chain management and information technology, focusing on operational excellence and executing the company’s strategic plan initiatives. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527141190/en/Dave Pauli, 44, has been promoted to the position of Chief Operating Officer (COO), reporting to Todd A. Adams, Chairman and CEO. Pauli will oversee all aspects of Zurn Elkay’s operations, supply chain management and information technology, focusing on operational excellence and executing the company’s strategic plan initiatives. Dan Klun, 51, is being promoted to the role of Chief Financial Officer (CFO), also reporting to Adams. Klun will oversee all aspects of Zurn Elkay’s financial operations effective immediately, including financial planning and analysis, treasury, financial reporting, tax, internal audit and investor relations. He joined the company in 2005 and has served in various roles of increasing responsibility, most recently as Vice President - Finance since 2017 and prior to that as Vice President - Corporate Controller. Klun brings nearly 30 years of financial and accounting experience with public companies and started his career in public accounting. “We’re thrilled to announce the promotion of two highly accomplished senior executives who will continue to drive our results in both the near and long term,” said Todd A. Adams, Chairman and CEO. “We’ve built an organization and culture that prioritizes focus, development and succession — strengths that have helped us more than double sales over the past five years while achieving record levels of profitability and cash flow. “As we look ahead, guided by the Zurn Elkay Business System (ZEBS), we are positioned to build on our strong track record of growth, performance and continuity — driven by the organizational structure we’re announcing today. Continuing to guide these efforts is our company President, Jeff Schoon, 43, who joined the company in 2010 and will continue to report to me. These moves position Jeff to invest more time on our growth initiatives and strategic priorities of growing our served markets, while building on Dave’s financial and operational experience to further leverage his leadership capabilities across the organization. Finally, having worked with Dan for more than 25 years, I’m excited and confident in his readiness to serve as CFO. He knows our business extraordinarily well.” Pauli joined Zurn Elkay in 2012 as Assistant Corporate Controller, later adding responsibility for financial planning and analysis (FP&A). He went on to serve as a divisional Vice President - Finance before being named Corporate Controller in 2016 and Chief Financial Officer in 2024. Second Quarter Results
“Our second quarter results are tracking very much in line with one month left to go, and we look forward to discussing our second quarter results and second half outlook in late July,” said Adams. About Zurn Elkay Water Solutions
Named one of America’s Most Responsible Companies and one of America’s Greenest Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME, Zurn Elkay Water Solutions is headquartered in Milwaukee, Wisconsin, and is a growth-oriented, pure-play water management business that designs, procures, manufactures and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Zurn Elkay product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products for public and private spaces. Learn more at zurnelkay.com. Cautionary Statement on Forward-Looking Statements
Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Zurn Elkay Water Solutions as of the date of this release, and Zurn Elkay Water Solutions assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in our report on Form 10-K for the period ended December 31, 2025, as well as the Company’s subsequent annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business. View source version on businesswire.com: https://www.businesswire.com/news/home/20260527141190/en/ Media Contact:
Angela Hersil, VP - Marketing & Communications, Public Affairs and Sustainability
855-480-5050 or 414-808-0199, corporate.communications@zurnelkay.com Investor Contact:
Bobbi Belstner, VP - Corporate Controller
414-361-0122 Original: Zurn Elkay Water Solutions Announces Executive Promotions

Uvalde CISD and Zurn Elkay Announce Donation for Cleaner, Healthier, Safer Drinking WaterMay 26, 2026 6:30 PM
Business Wire This summer, UCISD will install the donated units from Zurn Elkay in five UCISD schools, providing cleaner, healthier, safer filtered drinking water to the district’s 4,000 students, faculty, staff and community members. Donated Elkay® filters are tested and certified to NSF/ANSI 42, 53 and 401 to reduce lead, microplastics and other harmful contaminants, with many models engineered to reduce emerging contaminants like certain PFAS (forever chemicals). Valued at $370,000, the donation is part of Zurn Elkay’s Fountains for Youth initiative, which addresses the issue of lead in drinking water head-on by providing filtered bottle filling stations and filters to school districts in areas where lead levels are high and resources are low. Zurn Elkay Water Solutions Corporation (NYSE: ZWS) and Uvalde Consolidated Independent School District (UCISD) today announced the donation of 36 Elkay Pro FiltrationTM filtered bottle filling stations, 19 Elkay® ezH2O® filtered bottle filling stations, 73 Elkay filtration conversion kits and five years of Elkay filters for each of the donated units, ensuring consistent delivery of cleaner, healthier, safer drinking water to students, faculty, staff and community members. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260526758378/en/Second-grader Alexis Enriquez drinks Elkay-filtered water on the playground at Dalton Elementary School in Uvalde, TX. In an event at UCISD’s Dalton Elementary School, 600 N. Fourth Street, UCISD Interim Superintendent Dr. Juan Hinojosa and Zurn Elkay VP - Public Affairs and Sustainability Angela Hersil celebrated the donation with a class of second-grade students and community leaders, including Texas State Representative Don McLaughlin (R-District 80) and Mayor Hector R. Luevano. This summer, the donated units will be installed across five UCISD schools, replacing unfiltered drinking fountains with one filtered bottle filling station per 100 students. Additionally, all faucets in UCISD’s classrooms and cafeterias will be retrofitted to Elkay filtration, using donated conversion kits and filter cartridges. “Access to cleaner, safer drinking water is not a luxury—it is a necessity,” Dr. Hinojosa said. “And today, because of Zurn Elkay’s Fountains for Youth initiative, that necessity becomes a guaranteed reality. Zurn Elkay’s Fountains for Youth initiative recognizes something that we in Uvalde know all too well: that the communities with the greatest need are often the ones with the fewest resources to address it. That they chose to invest here—in our schools, in our children—speaks volumes about their values as a company and as a corporate neighbor.” “Our Fountains for Youth Program remains a cornerstone of our corporate giving, in which we donate our Elkay filtered bottle filling stations to schools across the country,” said Todd A. Adams, Chairman and CEO of Zurn Elkay Water Solutions. “For kids in Uvalde, across Texas and nationwide, school buildings are more than just places committed to the healthy physical, social and emotional development of children—they’re also a vital source of drinking water. Lead is harmful to all humans, but even more so for developing children, leading to development and learning delays. We’re proud to partner with UCISD in helping them to deliver cleaner, safer drinking water to the children of Uvalde throughout these formative years.” Elkay filtered bottle filling stations and drinking fountains are an immediate and cost-effective solution to expensive and laborious infrastructure upgrades. Elkay filters are tested and certified to NSF/ANSI 42, 53 and 401 to reduce lead, microplastics and other harmful contaminants, with many models engineered to reduce emerging contaminants like certain PFAS (forever chemicals). Elkay bottle filling stations deliver a dramatic environmental impact as well: in 2025 alone, the use of Elkay bottle filling stations has eliminated the need for more than 20 billion single-use plastic bottles. The donation, valued at $370,000, is part of Zurn Elkay’s Fountains for Youth initiative, which addresses the issue of lead in drinking water head-on, by providing filtered bottle filling stations and filters to school districts in areas where lead levels are high and resources are low. “This is going to be a huge change for our community and our students,” said Rep. Don McLaughlin. “As the state representative of this area and a citizen of Uvalde, thank you to Zurn Elkay for what you’ve done here, and thank you to Uvalde CISD leadership and faculty for having the foresight to go forward with this partnership.” “This generous donation from Zurn Elkay to UCISD ensures easy access to staying hydrated, keeping the children’s health at the forefront,” said Mayor Luevano. “Water is something that we all need, and if we can improve it, all the better for our children as they grow up.” “Our business places us at the center of critical community issues related to water cleanliness, safety, conservation and infrastructure, and we embrace the responsibility to make an even deeper impact where it’s so desperately needed,” said Hersil. “Our products provide point-of-use filtration that immediately makes drinking water cleaner and safer, and by making donations like this, we can support communities like Uvalde in fulfilling one of their most fundamental and important goals: providing safer, cleaner drinking water to their children.” For photos and video from today’s announcement, please visit
zurnelkay.com/press-room/press-kits. About Uvalde Consolidated School District Uvalde CISD serves approximately 4,000 students across seven campuses. The district comprises three secondary schools: Uvalde High School, Crossroads Academy and Morales Junior High. There are five elementary campuses: Batesville AgriTech Leadership Academy, Dalton Elementary, Legacy Elementary and the Uvalde CISD Dual Language Academy. Batesville AgriTech Leadership Academy is situated in Zavala County. At the same time, the other campuses are located in Uvalde County, positioned at the intersection of the two longest highways in the United States—often referred to as “The Crossroads of America.” Uvalde lies along US Highway 90 and US Highway 83, approximately 80 miles west of San Antonio and 70 miles east of Del Rio along US Highway 90. The district spans 1,093 square miles across Uvalde, Real and Zavala counties, with the local economy primarily driven by agriculture and mineral production. About Zurn Elkay Water Solutions Named one of America’s Most Responsible Companies and one of America’s Greenest Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME, Zurn Elkay Water Solutions is headquartered in Milwaukee, Wisconsin, and is a growth-oriented, pure-play water management business that designs, procures, manufactures and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Zurn Elkay product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products for public and private spaces. Learn more at zurnelkay.com. Cautionary Statement on Forward-Looking Statements Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Zurn Elkay Water Solutions as of the date of this release, and Zurn Elkay Water Solutions assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in our report on Form 10-K for the period ended December 31, 2025, as well as the Company’s subsequent annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business. View source version on businesswire.com: https://www.businesswire.com/news/home/20260526758378/en/ Anne Marie Espinoza, Uvalde CISD

Zurn Elkay Water Solutions Declares Quarterly Cash DividendApril 30, 2026 12:16 PM
Business Wire
Zurn Elkay Water Solutions Corporation (NYSE: ZWS) announced today that its Board of Directors declared a quarterly common stock dividend of $0.11 per share. The dividend is payable in cash on June 5, 2026 to stockholders of record as of May 20, 2026.


About Zurn Elkay Water Solutions


Named one of America’s Most Responsible Companies and one of America’s Greenest Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME, Zurn Elkay Water Solutions is headquartered in Milwaukee, WI, and is a growth-oriented, pure-play water management business that designs, procures, manufactures and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Zurn Elkay product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products for public and private spaces. Learn more at www.zurnelkay.com.


Forward-Looking Statements


Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Zurn Elkay Water Solutions Corporation as of the date of the release, and Zurn Elkay Water Solutions Corporation assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in the Company’s Form 10-K for the period ended December 31, 2025 as well as the Company’s annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the SEC for a further discussion of the factors and risks associated with the business.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260429425542/en/
Investor Contact:

Dave Pauli, Chief Financial Officer

414-223-7770


Media Contact:

Angela Hersil, Vice President – Marketing and Communications

855-480-5050

414-808-0199

Corporate.Communications@zurnelkay.com


Original: Zurn Elkay Water Solutions Declares Quarterly Cash Dividend

Zurn Elkay Water Solutions Reports First Quarter 2026 Financial ResultsApril 21, 2026 4:05 PM
Business Wire
Investor call scheduled for Wednesday, April 22, 2026 at 8:30 a.m. Eastern Time


Zurn Elkay Water Solutions Corporation (NYSE:ZWS)


First Quarter Highlights



Net sales in the quarter were $433 million compared with $389 million in last year’s March quarter (+11% core sales(1)).



Net income from continuing operations was $59 million (diluted EPS from continuing operations of $0.35) compared with net income from continuing operations of $41 million (diluted EPS from continuing operations of $0.24) in the year-ago quarter.



Adjusted EPS(1) was $0.41 compared with $0.31 in the year-ago quarter.



Adjusted EBITDA(1) was $116 million (26.8% of net sales) compared with $98 million (25.2% of net sales) in last year's first quarter.



Net debt leverage(1) of 0.5x as of March 31, 2026.



Increased revolver capacity from $200 million to $550 million.



Deployed $50 million to repurchase 1.0 million shares of common stock in the quarter.



Todd A. Adams, Chairman and Chief Executive Officer, commented, “First quarter core sales(1) grew 11% and adjusted EBITDA(1) grew 18% year over year as adjusted EBITDA margins(1) expanded 160 basis points to 26.8%. We’re pleased with the traction we’re getting on our targeted growth initiatives as well as the progress we’re making on opening new growth adjacencies that will launch later in 2026 and into 2027.”


“We continue to prioritize the relentless deployment of our strategic initiatives paired with world-class operational execution within our business by leveraging the Zurn Elkay Business System. The strength and resilience of our business is something we’ve cultivated and added to over a long period of time, by being laser focused on building unique, sustainable competitive advantages across our business. The depth and breadth of these advantages lie in our products, supply chain, go-to market alignment, vertical and geographic market focus, and the value that provides to our customers and the industry.”


Adams continued, “In February we issued our 2025 Sustainability report, which highlights our continued progress in strengthening environmental stewardship across our operations and providing additional solutions to help our customers meet their sustainability goals. As the world increasingly faces water conservation and contamination issues, our role as a leader in water management is to meet those challenges with practical, innovative solutions that set new standards for water efficiency, safety and quality.”


Outlook


“Our outlook for the second quarter and full year is based on the assumption that the current tariff structure in place as of today (April 21, 2026) remains in place throughout 2026. We expect second quarter core sales(1) to grow by 8% to 9% compared to last year's second quarter and adjusted EBITDA margins(1) to be between 27.0% to 27.5%. At present, we see the potential for upside beyond our Q1 actuals and Q2 guidance to the full year 2026 outlook we provided last quarter, and our plan is to revisit the second half of 2026 outlook as we announce Q2 results.”


First Quarter 2026 Overview


Net sales were $433.0 million and $388.8 million during the three months ended March 31, 2026 and March 31, 2025, respectively, an increase of 11% year over year. Core sales(1) improved 11% year over year, including growth in nearly all product categories.


During the three months ended March 31, 2026, income from operations was $82.1 million compared to $63.4 million during the three months ended March 31, 2025. Income from operations as a percentage of net sales increased by 270 basis points year over year as a result of the favorable impact of year-over-year sales growth (inclusive of price realization) and Zurn Elkay Business System led productivity initiatives.


Adjusted EBITDA(1) was $116.0 million, or 26.8% of net sales, during the three months ended March 31, 2026 compared to $98.0 million, or 25.2% of net sales, during the three months ended March 31, 2025.




(1)






Refer to "Non-GAAP Financial Measures" for a definition of this non-GAAP metric, as well as the accompanying reconciliations to GAAP.







Non-GAAP Financial Measures


The following non-GAAP financial measures are utilized by management in comparing our operating performance on a consistent basis. We believe that these financial measures are appropriate to enhance an overall understanding of our underlying operating performance trends compared to historical and prospective periods and our peers. Management also believes that these measures are useful to investors in their analysis of our results of operations and provide improved comparability between fiscal periods as well as insight into the compliance with our debt covenants. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of non-GAAP financial measures presented above to our GAAP results has been provided in the financial tables included in this press release.


Core Sales


Core sales excludes the impact of mergers, acquisitions, divestitures and foreign currency translation. Management believes that core sales facilitates easier and more meaningful comparison of our net sales performance with prior and future periods and to our peers. We exclude the effect of mergers, acquisitions and divestitures because the nature, size and number of mergers, acquisitions and divestitures can vary dramatically from period to period and between us and our peers, and can also obscure underlying business trends and make comparisons of long-term performance difficult. We exclude the effect of foreign currency translation from this measure because the volatility of currency translation is not under management's control.


Adjusted Net Income and Adjusted Earnings Per Share


Adjusted net income and adjusted earnings per share (calculated on a diluted basis) exclude actuarial gains and losses on pension and postretirement benefit obligations, restructuring and other similar charges, gains or losses on divestitures, discontinued operations, gains or losses on extinguishment of debt, the impact of acquisition-related fair value adjustments in connection with purchase accounting, amortization of intangible assets, the adjustment to state inventories at last-in, first-out costs, and other non-operational, non-cash or non-recurring gains and losses, net of their income tax impact. The tax rates used to calculate adjusted net income and adjusted earnings per share are based on a transaction specific basis. We believe that adjusted net income and adjusted earnings per share are useful in assessing our financial performance by excluding items that are not indicative of our core operating performance or that may obscure trends useful in evaluating our continuing results of operations.


EBITDA


EBITDA represents earnings from continuing operations before interest and other debt related activities, taxes, depreciation and amortization. EBITDA is presented because it is an important supplemental measure of performance and it is frequently used by analysts, investors and other interested parties in the evaluation of companies in our industry. EBITDA is also presented and compared by analysts and investors in evaluating our ability to meet debt service obligations. Other companies in our industry may calculate EBITDA differently. EBITDA is not a measurement of financial performance under GAAP and should not be considered as an alternative to cash flow from operating activities or as a measure of liquidity or an alternative to net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. Because EBITDA is calculated before recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a measure of discretionary cash available to invest in the growth of the business.


Adjusted EBITDA


“Adjusted EBITDA” is the term we use to describe EBITDA as defined and adjusted in our credit agreement, which is net income, adjusted for the items summarized in the Reconciliation of GAAP to Non-GAAP Financial Measures table below. Adjusted EBITDA is intended to show our unleveraged, pre-tax operating results and therefore reflects our financial performance based on operational factors, excluding non-operational, non-cash or non-recurring gains or losses. It is also provided to aid investors in understanding our compliance with our debt covenants. Adjusted EBITDA is not a presentation made in accordance with GAAP, and our use of the term Adjusted EBITDA varies from others in our industry. Adjusted EBITDA should not be considered as an alternative to net income, income from operations or any other performance measures derived in accordance with GAAP. Adjusted EBITDA has important limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for, analysis of our results as reported under GAAP. For example, Adjusted EBITDA does not reflect: (a) our capital expenditures, future requirements for capital expenditures or contractual commitments; (b) changes in, or cash requirements for, our working capital needs; (c) the significant interest expenses, or the cash requirements necessary to service interest or principal payments, on our debt; (d) tax payments that represent a reduction in cash available to us; (e) any cash requirements for the assets being depreciated and amortized that may have to be replaced in the future; or (f) the impact of earnings or charges resulting from matters that we and the lenders under our credit agreement may not consider indicative of our ongoing operations. In particular, our definition of Adjusted EBITDA allows us to add back certain non-cash, non-operating or non-recurring charges that are deducted in calculating net income, even though these are expenses that may recur, vary greatly and are difficult to predict and can represent the effect of long-term strategies as opposed to short-term results. “Adjusted EBITDA Margin” is the term we use to describe Adjusted EBITDA divided by net sales.


In addition, certain of these expenses can represent the reduction of cash that could be used for other corporate purposes. Further, although not included in the calculation of Adjusted EBITDA below, the measure may at times allow us to add estimated cost savings and operating synergies related to operational changes ranging from acquisitions to dispositions to restructurings and/or exclude one-time transition expenditures that we anticipate we will need to incur to realize cost savings before such savings have occurred. Further, management and various investors use the ratio of total debt less cash to Adjusted EBITDA (which includes a full pro forma last-twelve-month impact of acquisitions), or "net debt leverage", as a measure of our financial strength and ability to incur incremental indebtedness when making key investment decisions and evaluating us against peers. Lastly, management and various investors use the ratio of the change in Adjusted EBITDA divided by the change in net sales (referred to as “incremental margin” in the case of an increase in net sales or “decremental margin” in the case of a decrease in net sales) as an additional measure of our financial performance and when making key investment decisions and evaluating us against peers.


Free Cash Flow


We define Free Cash Flow as cash flow from operations less capital expenditures, and we use this metric in analyzing our ability to service and repay our debt and to forecast future periods. However, this measure does not represent funds available for investment or other discretionary uses since it does not deduct cash used to service our debt. We define Free Cash Flow Conversion as Free Cash Flow divided by net income.


Return on Invested Capital (“ROIC”)


ROIC is used because we believe it is an important supplemental measure of financial performance and it is also currently a performance measure under our long-term incentive plan. ROIC is frequently used by analysts, investors and other interested parties in the evaluation of companies in our industry. ROIC is also used by investors and analysts to evaluate management’s deployment of capital to create shareholder value. We define ROIC as tax-effected net operating income for the last 12 months divided by average total invested capital over a rolling four-quarter period. Total invested capital is defined as shareholders equity plus debt, less cash and cash equivalents. Other companies may not define or calculate ROIC in the same way.


About Zurn Elkay Water Solutions


Named one of America’s Most Responsible Companies and one of America’s Greenest Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME, Zurn Elkay Water Solutions is headquartered in Milwaukee, WI, and is a growth-oriented, pure-play water management business that designs, procures, manufactures and markets what we believe to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Zurn Elkay product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products for public and private spaces. Learn more at www.zurnelkay.com.


Conference Call Details


Zurn Elkay Water Solutions will hold a conference call and webcast presentation on Wednesday, April 22, 2026, at 8:30 a.m. Eastern Time to discuss its first quarter 2026 results, provide a general business update and respond to investor questions. Zurn Elkay Water Solutions Chairman and CEO, Todd Adams, and CFO, Dave Pauli, will co-host the call and webcast. The conference call can be accessed via telephone as follows:


Domestic toll-free: 800-715-9871


International toll: 646-307-1963


Access Code: 6071902


A live webcast of the call will also be available on the Company's investor relations website. Please go to the website (investors.zurnelkay.com) at least 15 minutes prior to the start of the call to register, download and install any necessary audio software.


If you are unable to participate during the live teleconference, a replay of the conference call will be available as a webcast on the Company's investor relations website.


Cautionary Statement on Forward-Looking Statements


Information in this release may involve outlook, expectations, beliefs, plans, intentions, strategies or other statements regarding the future, which are forward-looking statements. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Zurn Elkay Water Solutions as of the date of this release, and Zurn Elkay Water Solutions assumes no obligation to update any such forward-looking statements. The statements in this release are not guarantees of future performance, and actual results could differ materially from current expectations. Numerous factors could cause or contribute to such differences. Please refer to “Risk Factors” and “Cautionary Notice Regarding Forward-Looking Statements” in our report on Form 10-K for the period ended December 31, 2025, as well as the Company’s subsequent annual, quarterly and current reports filed on Forms 10-K, 10-Q and 8-K from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with the business.




Zurn Elkay Water Solutions Corporation and Subsidiaries








Condensed Consolidated Statements of Operations








(in Millions, except share and per share amounts)








(Unaudited)









 



 






 






Three Months Ended








 






 






March 31, 2026






 






March 31, 2025








Net sales






 






$






433.0






 






 






$






388.8






 








Cost of sales






 






 






227.2






 






 






 






207.8






 








Gross profit






 






 






205.8






 






 






 






181.0






 








Selling, general and administrative expenses






 






 






108.2






 






 






 






101.2






 








Restructuring and other similar charges






 






 






0.9






 






 






 






1.7






 








Amortization of intangible assets






 






 






14.6






 






 






 






14.7






 








Income from operations






 






 






82.1






 






 






 






63.4






 








Non-operating expense:






 






 






 






 








Interest expense, net






 






 






(6.2






)






 






 






(7.3






)








Other income, net






 






 






1.0






 






 






 






—






 








Income before income taxes






 






 






76.9






 






 






 






56.1






 








Provision for income taxes






 






 






(18.0






)






 






 






(15.1






)








Net income from continuing operations






 






 






58.9






 






 






 






41.0






 








Income from discontinued operations, net of tax






 






 






—






 






 






 






2.6






 








Net income






 






$






58.9






 






 






$






43.6






 








 






 






 






 






 








Basic net income per share:






 






 






 






 








Continuing operations






 






$






0.35






 






 






$






0.24






 








Discontinued operations






 






$






—






 






 






$






0.02






 








Net income






 






$






0.35






 






 






$






0.26






 








Diluted net income per share:






 






 






 






 








Continuing operations






 






$






0.35






 






 






$






0.24






 








Discontinued operations






 






$






—






 






 






$






0.02






 








Net income






 






$






0.35






 






 






$






0.26






 








Weighted-average number of shares outstanding (in thousands):






 






 






 






 








Basic






 






 






167,696






 






 






 






170,346






 








Effect of dilutive equity awards






 






 






1,980






 






 






 






1,843






 








Diluted






 






 






169,676






 






 






 






172,189






 









Zurn Elkay Water Solutions Corporation and Subsidiaries








Reconciliation of GAAP to Non-GAAP Financial Measures








Three Months Ended March 31, 2026








(in Millions) (Unaudited)









 



 






 






Three Months Ended March 31, 2026








 






 






Reported Results






 






 






 






Adjustments






 






 






 






Non-GAAP Results






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Net Sales






 






$






433.0






 






 






 






 






$






—






 






 






 






 






$






433.0






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Income from operations






 






 






82.1






 






 






 






 






 






12.9






 






(a)






 






 






 






95.0






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Income before income taxes






 






 






76.9






 






 






 






 






 






14.8






 






(b)






 






 






 






91.7






 






 






 








Provision for income taxes and indicated rate






 






 






(18.0






)






 






23.4






%






 






 






(3.5






)






 






23.6






%






 






 






(21.5






)






 






23.4






%








Net income






 






$






58.9






 






 






 






 






$






11.3






 






 






 






 






$






70.2






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








 






 






Income from Operations Adjustments (a)






 






 






 






Income before Income Taxes Adjustments (b)






 






 






 






 






 






 








Restructuring and other similar charges






 






$






0.9






 






 






 






 






$






0.9






 






 






 






 






 






 






 








Other, net (1)






 






 






0.2






 






 






 






 






 






0.2






 






 






 






 






 






 






 








Last-In, First-Out ("LIFO") adjustments






 






 






0.1






 






 






 






 






 






0.1






 






 






 






 






 






 






 








Stock-based compensation expense






 






 






11.7






 






 






 






 






 






—






 






 






 






 






 






 






 








Amortization of intangible assets






 






 






—






 






 






 






 






 






14.6






 






 






 






 






 






 






 








Other income, net (2)






 






 






—






 






 






 






 






 






(1.0






)






 






 






 






 






 






 








Total Adjustments






 






 






12.9






 






 






 






 






 






14.8






 






 






 






 






 






 






 









____________________








(1)






Other, net includes the gains and losses from the disposition of long-lived assets.








(2)






Other income, net for the periods indicated, consists primarily of gains and losses from foreign currency transactions, the non-service cost components of net periodic benefit costs associated with our defined benefit plans and other non-operational gains and losses.









Zurn Elkay Water Solutions Corporation and Subsidiaries








Reconciliation of GAAP to Non-GAAP Financial Measures








Three Months Ended March 31, 2025








(in Millions) (Unaudited)









 



 






 






Three Months Ended March 31, 2025








 






 






Reported Results






 






 






 






Adjustments






 






 






 






Non-GAAP Results






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Net Sales






 






$






388.8






 






 






 






 






$






—






 






 






 






 






$






388.8






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Income from operations






 






 






63.4






 






 






 






 






 






13.0






 






(a)






 






 






 






76.4






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Income before income taxes






 






 






56.1






 






 






 






 






 






17.2






 






(b)






 






 






 






73.3






 






 






 








Provision for income taxes and indicated rate






 






 






(15.1






)






 






26.9






%






 






 






(4.1






)






 






23.8






%






 






 






(19.2






)






 






26.2






%








Net income from continuing operations






 






 






41.0






 






 






 






 






 






13.1






 






 






 






 






 






54.1






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Income from discontinued operations, net of tax






 






 






2.6






 






 






 






 






 






(2.6






)






 






 






 






 






—






 






 






 








Net income






 






$






43.6






 






 






 






 






$






10.5






 






 






 






 






$






54.1






 






 






 








 






 






 






 






 






 






 






 






 






 






 






 






 








 






 






Income from Operations Adjustments (a)






 






 






 






Income before Income Taxes Adjustments (b)






 






 






 






 






 






 








Restructuring and other similar charges






 






$






1.7






 






 






 






 






$






1.7






 






 






 






 






 






 






 








Last-In, First-Out ("LIFO") adjustments






 






 






(0.3






)






 






 






 






 






(0.3






)






 






 






 






 






 






 








Stock-based compensation expense






 






 






10.5






 






 






 






 






 






—






 






 






 






 






 






 






 








Amortization of intangible assets






 






 






—






 






 






 






 






 






14.7






 






 






 






 






 






 






 








Supply chain optimization and footprint repositioning initiatives






 






 






1.1






 






 






 






 






 






1.1






 






 






 






 






 






 






 








Total Adjustments






 






 






13.0






 






 






 






 






 






17.2






 






 






 






 






 






 






 









Zurn Elkay Water Solutions Corporation and Subsidiaries








Reconciliation of GAAP to Non-GAAP Financial Measures








Three Months Ended March 31, 2026 and March 31, 2025








(in Millions, except share and per share amounts) (Unaudited)









 



 






 






Three Months Ended








Adjusted EBITDA






 






March 31, 2026






 






March 31, 2025








Net income






 






$






58.9






 






 






$






43.6






 








Income from discontinued operations, net of tax






 






 






—






 






 






 






(2.6






)








Provision for income taxes






 






 






18.0






 






 






 






15.1






 








Other income, net (1)






 






 






(1.0






)






 






 






—






 








Interest expense, net






 






 






6.2






 






 






 






7.3






 








Depreciation and amortization






 






 






21.0






 






 






 






22.7






 








EBITDA






 






$






103.1






 






 






$






86.1






 








 






 






 






 






 








Adjustments






 






 






 






 








Restructuring and other similar charges






 






$






0.9






 






 






$






1.7






 








Stock-based compensation expense






 






 






11.7






 






 






 






10.5






 








Last-In, First-Out ("LIFO") adjustments






 






 






0.1






 






 






 






(0.3






)








Other, net (2)






 






 






0.2






 






 






 






—






 








Subtotal of adjustments






 






 






12.9






 






 






 






11.9






 








Adjusted EBITDA






 






$






116.0






 






 






$






98.0






 









(1)






Other income, net for the periods indicated, consists primarily of gains and losses from foreign currency transactions, the non-service cost components of net periodic benefit costs associated with our defined benefit plans and other non-operational gains and losses.








(2)






Other, net includes the gains and losses from disposition of long-lived assets.









 






Three Months Ended








Adjusted Net Income and Earnings Per Share






March 31, 2026






 






March 31, 2025








Net income






$






58.9






 






 






$






43.6






 








Income from discontinued operations, net of tax






 






—






 






 






 






(2.6






)








Amortization of intangible assets






 






14.6






 






 






 






14.7






 








Restructuring and other similar charges






 






0.9






 






 






 






1.7






 








Supply chain optimization and footprint repositioning initiatives






 






—






 






 






 






1.1






 








Last-In, First-Out ("LIFO") adjustments






 






0.1






 






 






 






(0.3






)








Other income, net (1)






 






(1.0






)






 






 






—






 








Other, net (2)






 






0.2






 






 






 






—






 








Tax effect on above items






 






(3.5






)






 






 






(4.1






)








Adjusted net income






$






70.2






 






 






$






54.1






 








 






 






 






 








GAAP diluted net income per share from continuing operations






$






0.35






 






 






$






0.24






 








Adjusted earnings per share - diluted






$






0.41






 






 






$






0.31






 








 






 






 






 








Weighted-average number of shares outstanding (in thousands):






 






 






 








GAAP basic weighted-average shares






 






167,696






 






 






 






170,346






 








Effect of dilutive equity awards






 






1,980






 






 






 






1,843






 








Adjusted diluted weighted-average shares






 






169,676






 






 






 






172,189






 









(1)






Other income, net for the periods indicated, consists primarily of gains and losses from foreign currency transactions, the non-service cost components of net periodic benefit costs associated with our defined benefit plans and other non-operational gains and losses.








(2)






Other, net includes the gains and losses from the disposition of long-lived assets.









 






 






Three Months Ended








 






 






March 31, 2026






 






March 31, 2025








Cash provided by operating activities






 






$






46.1






 






 






$






42.9






 








Expenditures for property, plant and equipment






 






 






(3.4






)






 






 






(4.3






)








Free cash flow






 






$






42.7






 






 






$






38.6






 









Zurn Elkay Water Solutions Corporation and Subsidiaries








Condensed Consolidated Statements of Comprehensive Income








(in Millions)








(Unaudited)









 



 






 






Three Months Ended








 






 






March 31, 2026






 






March 31, 2025








Net income






 






$






58.9






 






 






$






43.6






 








Other comprehensive loss:






 






 






 






 








Foreign currency translation adjustments






 






 






(1.6






)






 






 






(0.2






)








Other comprehensive loss, net of tax






 






 






(1.6






)






 






 






(0.2






)








Total comprehensive income






 






$






57.3






 






 






$






43.4






 









Zurn Elkay Water Solutions Corporation and Subsidiaries








Condensed Consolidated Balance Sheets








(in Millions, except share amounts)











 



 






 






(Unaudited)






 






 








 






 






March 31, 2026






 






December 31, 2025








Assets






 






 






 






 








Current assets:






 






 






 






 








Cash and cash equivalents






 






$






273.5






 






 






$






300.5






 








Receivables, net






 






 






242.7






 






 






 






184.8






 








Inventories, net






 






 






292.3






 






 






 






274.4






 








Income taxes receivable






 






 






1.8






 






 






 






13.3






 








Other current assets






 






 






26.2






 






 






 






38.7






 








Total current assets






 






 






836.5






 






 






 






811.7






 








Property, plant and equipment, net






 






 






155.9






 






 






 






157.6






 








Intangible assets, net






 






 






820.4






 






 






 






835.0






 








Goodwill






 






 






794.4






 






 






 






795.0






 








Other assets






 






 






77.2






 






 






 






80.1






 








Total assets






 






$






2,684.4






 






 






$






2,679.4






 








Liabilities and stockholders' equity






 






 






 






 








Current liabilities:






 






 






 






 








Current maturities of debt






 






$






1.4






 






 






$






0.9






 








Trade payables






 






 






99.0






 






 






 






65.2






 








Compensation and benefits






 






 






18.3






 






 






 






40.9






 








Current portion of pension and other postretirement benefit obligations






 






 






1.1






 






 






 






1.1






 








Other current liabilities






 






 






138.7






 






 






 






151.3






 








Total current liabilities






 






 






258.5






 






 






 






259.4






 








 






 






 






 






 








Long-term debt






 






 






497.6






 






 






 






495.6






 








Pension and other postretirement benefit obligations






 






 






9.5






 






 






 






9.6






 








Deferred income taxes






 






 






191.8






 






 






 






189.7






 








Operating lease liability






 






 






38.1






 






 






 






42.0






 








Other liabilities






 






 






82.1






 






 






 






79.8






 








Total liabilities






 






 






1,077.6






 






 






 






1,076.1






 








 






 






 






 






 








Stockholders' equity:






 






 






 






 








Common stock, $0.01 par value; 200,000,000 shares authorized; shares issued and outstanding: 167,032,113 at March 31, 2026 and 166,981,602 at December 31, 2025






 






 






1.7






 






 






 






1.7






 








Additional paid-in capital






 






 






2,806.2






 






 






 






2,810.0






 








Retained deficit






 






 






(1,122.8






)






 






 






(1,131.7






)








Accumulated other comprehensive loss






 






 






(78.3






)






 






 






(76.7






)








Total stockholders' equity






 






 






1,606.8






 






 






 






1,603.3






 








Total liabilities and stockholders' equity






 






$






2,684.4






 






 






$






2,679.4






 









Zurn Elkay Water Solutions Corporation and Subsidiaries








Condensed Consolidated Statements of Cash Flows








(in Millions)








(Unaudited)









 



 






 






Three Months Ended








 






 






March 31, 2026






 






March 31, 2025








Operating activities






 






 






 






 








Net income






 






$






58.9






 






 






$






43.6






 








Adjustments to reconcile net income to cash provided by operating activities:






 






 






 






 








Depreciation






 






 






6.4






 






 






 






8.0






 








Amortization of intangible assets






 






 






14.6






 






 






 






14.7






 








Non-cash restructuring charges






 






 






—






 






 






 






0.5






 








Loss on dispositions of long-lived assets






 






 






0.2






 






 






 






—






 








Deferred income taxes






 






 






2.1






 






 






 






(1.3






)








Other non-cash expenses






 






 






1.0






 






 






 






—






 








Pension curtailment and settlement






 






 






—






 






 






 






(0.7






)








Stock-based compensation expense






 






 






11.7






 






 






 






10.5






 








Changes in operating assets and liabilities:






 






 






 






 








Receivables, net






 






 






(58.1






)






 






 






(40.5






)








Inventories, net






 






 






(18.2






)






 






 






(7.9






)








Other assets






 






 






29.6






 






 






 






25.0






 








Accounts payable






 






 






33.9






 






 






 






23.3






 








Accruals and other






 






 






(36.0






)






 






 






(32.3






)








Cash provided by operating activities






 






 






46.1






 






 






 






42.9






 








 






 






 






 






 








Investing activities






 






 






 






 








Expenditures for property, plant and equipment






 






 






(3.4






)






 






 






(4.3






)








Cash used for investing activities






 






 






(3.4






)






 






 






(4.3






)








 






 






 






 






 








Financing activities






 






 






 






 








Repayments of debt






 






 






(0.3






)






 






 






(0.2






)








Payment of debt issuance costs






 






 






(3.0






)






 






 






—






 








Proceeds from exercise of stock options and ESPP contributions






 






 






2.5






 






 






 






1.2






 








Taxes withheld and paid on employees' share-based payment awards






 






 






—






 






 






 






(0.5






)








Repurchase of common stock






 






 






(50.0






)






 






 






(77.4






)








Payment of common stock dividends






 






 






(18.4






)






 






 






(15.2






)








Cash used for financing activities






 






 






(69.2






)






 






 






(92.1






)








Effect of exchange rate changes on cash, cash equivalents and restricted cash






 






 






(0.5






)






 






 






0.2






 








Decrease in cash, cash equivalents and restricted cash






 






 






(27.0






)






 






 






(53.3






)








Cash, cash equivalents and restricted cash at beginning of period






 






 






300.5






 






 






 






198.0






 








Cash, cash equivalents and restricted cash at end of period






 






$






273.5






 






 






$






144.7






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260421264771/en/
Dave Pauli

Chief Financial Officer

414.223.7770


Original: Zurn Elkay Water Solutions Reports First Quarter 2026 Financial Results