Zurn Elkay Water Solutions (ZWS) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Zurn Elkay Water Solutions published the results on October 27, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Zurn Elkay Water Solutions reports EPS two ways: GAAP, under the accounting rules every US filer follows, and Adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• GAAP diluted EPS here is on total net income ($0.45 against $0.36). Diluted EPS from continuing operations, which excludes the spun-off Process & Motion Control business, was $0.45 against $0.35.
• Zurn Elkay booked $1.5 million of IEEPA reciprocal tariff refunds as a reduction to cost of sales in Q3 2026 and $49.1 million in the first nine months; Adjusted EPS and Adjusted EBITDA exclude them.

Source: Zurn Elkay Q3 2026 results, October 27, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Zurn Elkay Water Solutions splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Zurn Elkay Water Solutions's Institutional revenue was $244 million in Q3 2026, up 9% from $224 million in Q3 2025, 49% of total revenue.
• Zurn Elkay Water Solutions's Commercial revenue was $147 million in Q3 2026, up 15% from $128 million in Q3 2025, 30% of total revenue.
• Zurn Elkay Water Solutions's All other revenue was $104 million in Q3 2026, flat on $104 million in Q3 2025, 21% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In the same sentence Zurn Elkay guides Q4 2026 adjusted EBITDA of $120 million to $123 million and full-year 2026 free cash flow above $350 million, excluding the net impact of tariff refunds. It gives no EPS outlook.

In its Q3 2026 release (Todd A. Adams, Chairman and CEO), Zurn Elkay Water Solutions said:

“As we start the fourth quarter, it feels like a time to be conservative in our assumptions while remaining aggressive with our actions with everything that's happening in the world right now.”

“For the fourth quarter, we expect net sales to be between $430 million to $437 million”

Source: Zurn Elkay Q3 2026 release, Oct 27, 2026.

This is the company's own guidance as of Oct 27, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the ZWS forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Net sales and GAAP diluted EPS on total net income, each as first reported in that quarter's release.

We do not hold a confirmed date for Zurn Elkay Water Solutions's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 27, 2026

Zurn Elkay Water Solutions had net sales of $495.1 million in Q3 2026, up 9% from $455.4 million. Core sales, which exclude acquisitions and currency, grew 7%, with growth in nearly all product categories, and the Intellihot acquisition added another 2%. (Zurn Elkay Q3 2026 release, Oct 27, 2026)

Zurn Elkay discloses net sales by customer type. Institutional customers brought in $243.6 million, against $223.5 million a year earlier, commercial customers $147.4 million against $128.3 million, and all other customers $104.1 million against $103.6 million. Its products cover water safety and control, flow systems, hygienic and environmental products, and filtered drinking water under brands including Zurn, Elkay, JUST, Hadrian and Wilkins. (Zurn Elkay Form 10-Q, Q3 2026, Oct 27, 2026; Zurn Elkay Q3 2026 release, Oct 27, 2026; Zurn Elkay Form 10-K, 2025, Feb 9, 2026)

Zurn Elkay sells mostly in the United States, which accounted for $456.7 million of Q3 2026 net sales, against $27.1 million in Canada and $11.3 million in the rest of the world. Its largest customer accounted for 18% of consolidated net sales in 2025, and no other customer exceeded 10%. (Zurn Elkay Form 10-Q, Q3 2026, Oct 27, 2026; Zurn Elkay Form 10-K, 2025, Feb 9, 2026)

Zurn Elkay acquired Intellihot, a maker of tankless water heaters based in Vernon Hills, Illinois, on July 21, 2026 for $107.3 million. CEO Todd A. Adams said Intellihot and the Wilkins backflow line are key parts of the hot water loop, and that Zurn Elkay has expanded its served markets by roughly $400 million in 2026. (Zurn Elkay Form 10-Q, Q3 2026, Oct 27, 2026; Zurn Elkay Q3 2026 release, Oct 27, 2026)

Zurn Elkay's GAAP diluted EPS rose to $0.45 from $0.36 in Q3 2026, and Adjusted EPS rose to $0.52 from $0.43. Adjusted EPS excludes amortization of intangible assets ($15.2 million), restructuring and other similar charges ($1.4 million), an acquisition-related fair value adjustment ($0.7 million), LIFO adjustments, IEEPA tariff refunds ($1.5 million) and other income, net, along with their tax effect. Adjusted net income was $86.8 million against GAAP net income of $76.3 million. (Zurn Elkay Q3 2026 release, Oct 27, 2026)

Income from operations rose to $108.2 million from $77.5 million, and its share of net sales rose 490 basis points, which Zurn Elkay attributes to product mix, productivity initiatives under the Zurn Elkay Business System and supply chain repositioning. Gross profit was $245.8 million against $200.7 million. Interest expense, net fell to $6.3 million from $7.1 million on lower interest rates. (Zurn Elkay Q3 2026 release, Oct 27, 2026; Zurn Elkay Form 10-Q, Q3 2026, Oct 27, 2026)

Zurn Elkay spent $35 million to repurchase 0.7 million shares in Q3 2026, and diluted weighted-average shares fell to 168,105 thousand from 170,273 thousand. The provision for income taxes was $26.5 million, an indicated rate of 25.8%. It also raised its annual dividend 18% to $0.52 per share. (Zurn Elkay Q3 2026 release, Oct 27, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Zurn Elkay gives a next-quarter outlook in its release. For Q4 2026 it expects net sales of $430 million to $437 million and adjusted EBITDA of $120 million to $123 million, and for the full year free cash flow above $350 million, excluding the net impact of tariff refunds. (Zurn Elkay Q3 2026 release, Oct 27, 2026)

Zurn Elkay CEO Todd A. Adams said it feels like a time to be conservative in its assumptions, and pointed to general uncertainty in its served markets and the broader economy. The release gives no EPS outlook. (Zurn Elkay Q3 2026 release, Oct 27, 2026)

A consensus figure is the average of the models published by the analysts who cover Zurn Elkay Water Solutions, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Zurn Elkay Water Solutions's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning ZWS is on is ZWS a buy or a sell?, what analysts expect next is on the ZWS forecast, and what the company does is on the Zurn Elkay Water Solutions (ZWS) stock page.

Every number on this page can be traced to a document Zurn Elkay Water Solutions published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.