Reports Q1 revenue $435.8M, consensus $426.68M."We are very pleased with our start to fiscal 2023." said Ron Keating, Evoqua President and CEO, "Our first quarter results were strong across all regions and most end markets, as revenues were up 19.0% over the prior year period, with organic growth contributing 9.1%. We continue to see broad based demand across our key markets, particularly Life Sciences and Microelectronics. Our order flow remains healthy as well, with a book to bill ratio again over 1.0. The ISS backlog continued to grow, and we are pleased with the progress of outsourced water and our digital strategy. Leverage on organic growth drove adjusted EBITDA up nearly 34%, and we saw margin expansion over the prior year quarter."
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on AQUA:
- Xylem-Evoqua deal timing a surprise, but not tie-up, says Morgan Stanley
- Xylem deal for Evoqua priced ‘high’ but ‘great’ long-term fit, says Loop Capital
- Xylem upgraded to Buy from Hold at Stifel
- Evoqua Water rises 13.2%
- Xylem stock reaction to Evoqua deal ‘confounding,’ says Stifel
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue