Zurn Elkay Water reports Q2 adjusted EPS 33c, consensus 31c

Reports Q2 revenue $412M, consensus $408.52M. Todd A. Adams, Chairman and Chief Executive Officer, commented, “Both sales and margins exceeded our guidance for the second quarter, as we leveraged 3% pro forma core sales growth into adjusted EBITDA growth of 20% over the prior year, as margins improved 370 basis points to 25.3%. We delivered strong second quarter free cash flow of $80 million while net debt leverage continues at an all-time low of 0.9x. We also repurchased nearly 2 million shares in the quarter for a total of $61 million, bringing our year to date repurchases to $80 million.”