Zurn Elkay Water Solutions Corp (NYSE:ZWS) disclosed its financial outcomes for the quarter ending June 30, 2024, today, in its latest 8-K filing with the Securities and Exchange Commission. The company, a player in the general industrial machinery and equipment sector, provided the details in an earnings release attached as Exhibit 99.1 to the filing.
While the earnings release itself was not included in the provided context, the 8-K filing indicates that the information contained within it, including the financial results, is considered "furnished" under SEC regulations. This means that the information is not subject to the same liability as "filed" content and is not incorporated by reference into any prior or future securities filings.
Zurn Elkay Water Solutions Corp, headquartered in Milwaukee, Wisconsin, operates under the jurisdiction of incorporation in Delaware. The company has undergone several name changes in its history, previously known as Zurn Water Solutions Corp and prior to that as Rexnord (NYSE:ZWS) Corp and Rexnord Holdings, Inc.
The financial results for the quarter are a key indicator of the company's performance and are closely watched by investors and analysts. However, the 8-K filing did not provide specific details about the financial performance, such as revenue, profit, or earnings per share.
Investors typically look to quarterly financial reports to assess a company's health, operational efficiency, and prospects for future growth. These reports can influence investment decisions and the company's stock price on the New York Stock Exchange where its shares are traded.
It is important to note that the information provided in this article is based on the company's SEC filing and does not include any analysis or commentary on the reported facts.
For more detailed information on Zurn Elkay Water Solutions Corp's financial performance, investors may refer to the full earnings release once it is made available by the company.
In other recent news, Zurn Elkay Water Solutions Corporation has announced a quarterly dividend of $0.08 per share, set for a June payout. This dividend is scheduled to be paid in cash to shareholders on record by May 20, 2024. The company's announcement is part of its regular dividend payments, underscoring its commitment to delivering shareholder value.
In other related developments, Zurn Elkay continues to emphasize its product offerings and focus on specification-driven solutions. The company's portfolio includes items for both public and private spaces, covering water safety and control, flow systems, hygienic products, and filtered drinking water solutions.
Investors should note that the company's forward-looking statements are subject to risks and uncertainties. For a comprehensive understanding of the business's performance and risk factors, it is suggested to consult Zurn Elkay's filings with the SEC, including its most recent Form 10-K. These are the latest updates from Zurn Elkay Water Solutions Corporation.
InvestingPro Insights
Zurn Elkay Water Solutions Corp (NYSE:ZWS) has recently caught the attention of investors with several positive indicators. According to InvestingPro data, the company boasts a market capitalization of $5.59 billion and a Price/Earnings (P/E) ratio that stands at 45.08, reflecting investor confidence in future earnings.
Notably, the P/E ratio adjusts to 40.08 when considering the last twelve months as of Q1 2024, alongside a PEG ratio of 0.43, which may suggest that the stock is undervalued relative to its earnings growth. Additionally, the company has demonstrated solid revenue growth of 8.34% over the last twelve months as of Q1 2024.
InvestingPro Tips further enrich the outlook for Zurn Elkay Water Solutions Corp. The company has achieved a perfect Piotroski Score of 9, indicating strong financial health, and analysts are optimistic about its profitability, expecting net income to grow this year. With liquid assets surpassing short-term obligations and a moderate level of debt, the company appears to be in a stable financial position.
Moreover, Zurn Elkay is trading at a low P/E ratio relative to near-term earnings growth, which could be an attractive point for value investors. For those interested in additional insights, there are 8 more InvestingPro Tips available that could provide a deeper understanding of the company's potential.
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