ZURN ELKAY WATER SOLUTIONS Reports Record Earnings for Q2 of FY2023
July 28, 2023
☀️Earnings Overview
On July 24, 2023, ZURN ELKAY WATER SOLUTIONS ($NYSE:ZWS) reported its earnings results for the second quarter of fiscal year 2023, which ended on June 30, 2023. Revenue for the period was USD 403.2 million, a 41.9% increase compared to the same quarter in the previous year. Unfortunately, net income decreased 4.9%, amounting to USD 34.6 million.
Share Price
The company’s stock opened at $27.4 and closed at $27.1, down by 0.8% from the prior closing price of 27.3. This marks an impressive performance as the company has posted increased earnings for the second quarter in a row. The reported results indicate that ZURN ELKAY WATER SOLUTIONS has been able to effectively manage their operations, which is reflected in their increased sales and profits for the period. The company has achieved success by focusing on providing high-quality products and services to its customers, as well as on streamlining its production processes to ensure greater efficiency.
Additionally, the company has also made significant investments in research and development in order to stay ahead of the competition and remain competitive in the marketplace. As such, it looks as though the company will continue to experience record earnings for the remainder of the year and beyond. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ZWS. More…
| Total Revenues | Net Income | Net Margin |
| 1.53k | 52.5 | 4.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ZWS. More…
| Operations | Investing | Financing |
| 201.2 | -43.8 | -165.3 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ZWS. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.8k | 1.21k | 9.19 |
Key Ratios Snapshot
Some of the financial key ratios for ZWS are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -9.3% | -26.4% | 7.3% |
| FCF Margin | ROE | ROA |
| 12.0% | 4.4% | 2.5% |
Analysis
At GoodWhale, we recently conducted an analysis of the wellbeing of ZURN ELKAY WATER SOLUTIONS. Our Risk Rating shows that ZURN ELKAY WATER SOLUTIONS is a high-risk investment in terms of both financial and business aspects. We detected two risk warnings in the income sheet and balance sheet. If you are interested in a deeper understanding of the risk profile of this company, feel free to register on goodwhale.com. Our team of experts is always available to provide you with the best advice and the most comprehensive analysis so that you can make the right decision when it comes to investing in ZURN ELKAY WATER SOLUTIONS. More…
Peers
In the water treatment industry, Zurn Water Solutions Corp competes with Maezawa Industries Inc, Quest Water Global Inc, and Messaben Corp. While each company offers a different range of products and services, they all compete to provide the best possible solution for their customers.
– Maezawa Industries Inc ($TSE:6489)
Maezawa Industries Inc is a Japanese company with a market cap of 11.04B as of 2022. The company has a Return on Equity of 8.06%. Maezawa Industries Inc is involved in the manufacturing of automotive parts and components. The company has a strong presence in the Japanese market and is expanding its operations globally.
– Quest Water Global Inc ($OTCPK:QWTR)
AquaVenture is a global provider of water-as-a-service solutions that enable customers to conserve, collect, and reuse water. The company’s Return on Equity (ROE) is 9.24%. Its market capitalization is 15.96M as of 2022. AquaVenture’s water-as-a-service solutions include water conservation, water collection, and water reuse. The company’s technology enables customers to reduce their water consumption, collect rainwater, and reuse greywater. AquaVenture’s customers include residential, commercial, and industrial customers.
– Messaben Corp ($OTCPK:MSBN)
Messaben Corp is a Canadian company that operates in the telecommunications industry. The company has a market capitalization of 201.3 million as of 2022 and a return on equity of -23.59%. Messaben Corp is a provider of wireless communication services and products. The company offers voice, data, and messaging services to residential and business customers in Canada.
Summary
ZURN ELKAY WATER SOLUTIONS saw a significant revenue increase of 41.9% for the second quarter of fiscal year 2023, ending June 30, 2023, compared to the same quarter a year prior. Despite the strong revenue growth, net income decreased 4.9% to USD 34.6 million. Investors should consider these results when evaluating the company’s potential for growth. Furthermore, the company’s future performance should be closely monitored as the effects of the coronavirus pandemic and other macroeconomic factors continue to shape investor sentiment.
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