Plus   Neg

Stock Alert: Evoqua Water On The Rise

Shares of Evoqua Water Technologies (AQUA) have been climbing after it reported fourth-quarter results in November. The stock closed at $19.48, up 3.51% on Tuesday.

Revenues in the fourth quarter had risen 12.6% to $412.5 million from the prior-year period. Net income also improved to $1.69 million or $0.01 per share from net loss of $3.45 million or $0.03 per share in the corresponding quarter last year.

For fiscal 2019, revenues were $1.44 billion, 7.8% higher year-over-year, in line with expectations.

Looking forward to full-year, revenues are expected in the range of $1.40 billion to $1.46 billion compared with analysts estimate of $1.44 billion.

There were reports of First Trust Advisors LP increasing its stake in Evoqua by 14.7% in the third quarter.

The sale of the company's Memcor membrane business to DuPont Safety & Construction, which was announced in October, is expected to be completed this month. In October, Evoqua acquired a major stake in San Diego-based Frontier Water Systems, LLC.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration has granted accelerated approval to Tazverik for the treatment of adults and pediatric patients aged 16 years and older with metastatic or locally advanced epithelioid sarcoma not eligible for complete resection. Epithelioid sarcoma is a rare sub-type of soft... STIHL recalls about 16,400 STIHL RE 90 pressure washers due to injury hazard. According to the company, the recalled pressure washer nozzle can disconnect from the spray wand when under pressure during use, posing an injury hazard. STIHL said it received seven reports of the nozzle detaching from... CVS Health Corp. launched 13 new HealthHUB locations in CVS Pharmacy stores across Philadelphia and South New Jersey. The healthcare company said it developed the HealthHUB store format to help people manage chronic conditions more conveniently and affordably. The store also features health and wellness products, clinical services and expertise.
Follow RTT