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zurn WATER SOLUTIONS Exhibit 99.1 October 26 , 2021 Press Release Contact Information : For Immediate Release Dave Pauli Vice President - Investor Relations 414.223.7770 Zurn Water Solutions Reports Third Quarter 2021 Financial Results Call scheduled for Wednesday , October 27 , 2021 at 8:00 a.m. Eastern Time MILWAUKEE , WI ( USA ) - Zurn Water Solutions Corporation ( NYSE : ZWS ) Third Quarter and Recent Highlights . • • • On October 4 , 2021 Zurn Water Solutions Corporation ( " Zurn " or the " Company " ) , formerly known as Rexnord Corporation , completed the spin - off of its Process & Motion Control ( " PMC " ) business in a Reverse Morris Trust transaction ( the " Transaction " ) . Zurn Water Solutions is now a stand - alone pure - play water solutions company . Consolidated results presented for the third quarter and year to date represent the Company's combined legacy businesses ( both the Water Management ( " WM " ) and PMC segments ) . Consolidated net sales were $ 557 million compared with $ 494 million in last year's September quarter ( + 9 % core sales ( 1 ) , + 3 % acquisitions and divestitures , + 1 % foreign currency translation ) . Consolidated net income ( 2 ) was $ 64 million ( diluted EPS of $ 0.51 ) , compared with $ 45 million ( diluted EPS of $ 0.37 ) in the year - ago quarter . Consolidated Adjusted EPS ( ¹ ) was $ 0.55 compared with $ 0.47 in the year - ago quarter . Consolidated Adjusted EBITDA ( ¹ ) was $ 128 million ( 23.0 % of net sales ) compared with $ 109 million ( 22.0 % of net sales ) in last year's September quarter . Todd A. Adams , Chairman and Chief Executive Officer , commented , “ The timely and successful completion of the Transaction represents a significant milestone for our Company as we transition to operating Zurn Water Solutions ; a stand - alone , pure - play water business that we believe is well positioned to continue to create significant shareholder value driven by our distinct competitive advantages . We provide our customers with the broadest sustainable product portfolio of solutions to improve health , human safety and the environment . We are excited for the next chapter and expect to build upon our track record of superior performance by leveraging the Zurn Business system to continue to drive above market growth , best in class margins and superior cash flow . " " In the third quarter , demand trends in our Zurn business remained strong as core orders increased in the high single digits year over year . Year over year sales grew 15 % and our core sales grew 5 % despite being impacted by some temporary transportation delays that our team continues to actively manage . With the benefit of the third quarter behind us and continued strong demand to start the fourth quarter our second half outlook remains unchanged from our expectations ninety days ago . Operationally , we continue to execute well as we delivered EBITDA margins of 26.5 % along with exceptional cash flow . Looking ahead to next year , we believe a positive market backdrop coupled with the success we are having on a number of our organic growth initiatives , sets up a clear path to double digit core growth for Zurn in 2022. " " The PMC business that is now part of Regal Rexnord Corporation delivered 12 % organic growth , a solid EBITDA margin of 23.5 % and demand remained strong across PMC's end markets which resulted in a book - to - bill ratio above one . "