Reports Q3 revenue $410.0M, consensus $405.84M. The company said, “We delivered a solid quarter as both sales and margins exceeded the guidance we provided 90 days ago. Despite pockets of challenging end markets, our third quarter pro forma core sales(1) growth was 4% and adjusted EBITDA margins grew by 150 basis points year over year to 25.6%. Free cash flow(1) continues to be exceptional as we generated $87 million of free cash flow in the third quarter bringing our year to date total to $217 million. We continue to leverage our robust cash flow to invest in our business and return capital to shareholders as we cultivate the right M&A opportunities. In the quarter we deployed an additional $50 million of capital to repurchase 1.6 million shares, while increasing our quarterly dividend by 13% and reducing our net debt leverage to an all-time low of 0.8x.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ZWS:
- Zurn Water Solutions Corporation (ZWS) Q3 Earnings Cheat Sheet
- Zurn Elkay Water raises quarterly dividend 12.5% to 9c per share
- Zurn Elkay Water price target raised to $36 from $34 at Stifel
- Zurn Elkay Water rises 9.1%
- S&P announces changes to S&P 400, 600 indexes for quarterly rebalance
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
