Zurn Elkay Water Solutions Corporation (NYSE:ZWS) Q1 2024 Earnings Conference Call April 24, 2024 8:30 AM ET

Company Participants

David Pauli - VP, IR
Todd Adams - Chairman and CEO
Mark Peterson - SVP and CFO

Conference Call Participants

Bryan Blair - Oppenheimer
Edward Magi - BMP Paribas
Joe Ritchie - Goldman Sachs
Adam Farley - Stifel
Brett Linzey - Mizuho
Jeff Hammond - KeyBanc Capital Markets

Operator

Good morning, and welcome to the Zurn Elkay Water Solutions Corporation First Quarter 2024 Earnings Results Conference Call with Todd Adams, Chairman and Chief Executive Officer; Mark Peterson, Senior Vice President and Chief Financial Officer; and Dave Pauli, Vice President of Investor Relations for Zurn Elkay Water Solutions. A replay of the conference call will be available as a webcast on the company's Investor Relations website.

At this time for opening remarks and introduction, I'll turn the call over to Dave Pauli.

David Pauli

Good morning, everyone. Thanks for joining us on the call today. Before we begin, I would like to remind everyone that this call contains certain forward-looking statements that are subject to the Safe Harbor language contained in the press release that we issued yesterday afternoon as well as in our filings with the SEC.

In addition, some comparisons will refer to non-GAAP measures. Our earnings release and SEC filings contain additional information about these non-GAAP measures, why we use them, and why we believe they are helpful to investors, and contain reconciliations to the corresponding GAAP information. Consistent with the prior quarters, we will speak to certain non-GAAP metrics as we feel they provide a better understanding of our operating results. These measures are not a substitute for GAAP and we encourage you to review the GAAP information in our earnings release and in our SEC filings.

With that, I'll turn the call over to Todd Adams, Chairman and CEO of Zurn Elkay Water Solutions.

Todd Adams

Thanks Dave and good morning, everyone and thanks for taking the time to listen this morning and hopefully everyone had a chance to go through the release last night. I'll start on Page three. To cut right to the chase, we had a solid start to 2024 with Q1 sales, earnings and cash flow all ahead of our expectations heading into the quarter.

From our perspective, the end market view that we've had for 2024 for the last six months or so, continues to look the same, with steady strength and institutional, some pockets of weakness and commercial and residential roughly flattish, with share gains, initiative growth and a little bit of price driving what we expect to be growth over the course of the coming year.