Adjusted EBITDA is defined as net income (loss) before interest expense, income tax benefit (expense), and depreciation and amortization, adjusted for the impact of certain other items, including restructuring and related business transformation costs, share-based compensation, transaction costs, and other gains, losses and expenses that we believe do not directly reflect our underlying business operations. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited). News Details View all news Evoqua Water Technologies Reports First Quarter 2021 Results 02/02/2021 First Quarter 2021 Financial Highlights: Revenue of $322.2 million, down 6.9% compared to the prior year period; organic revenue down 3.5% Net income of $6.5 million; diluted earnings per share of $0.05 Adjusted EBITDA of $44.8 million Management uses adjusted EBITDA to supplement GAAP measures of performance as follows: In addition to the above, our chief operating decision maker uses adjusted EBITDA of each reportable operating segment to evaluate the operating performance of such segments. * Required. As a result of the refinancing, the Company wrote off $1.3 million of deferred financing fees and expensed $3.1 million of additional fees incurred during the nine months ended June 30, 2021. loss on divestiture of the Lange product line. . This press release contains financial measures that are not calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP), including adjusted EBITDA, adjusted net income and adjusted EPS, organic revenue and net leverage ratio. The financial results prepared in accordance with GAAP and the reconciliations from these results included below should be carefully evaluated. Participant DetailsDial-In Numbers:Toll Free US: 800-459-5346International: +1 203-518-9544Conference ID: AQUAQ3. DESOTEC's customer base is constantly growing thanks to a strong focus on 24/7 service and a commitment to design and deliver the best solution in close dialogue with the customer. Evoqua Water Technologies Q2 2023 Earnings Presentation. Inorganic revenue contributed $40.8 million related to our acquisition of the Mar Cor business on January 3, 2022. Restructuring and Related Business Transformation Costs(1). At Evoqua Water, we promise to treat your data with respect and will not share your information with any third party. Further information is available at www.blackstone.com. Further information is available at www.desotec.com. Our $951 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Organic revenue is defined as revenue excluding the impact of foreign currency translation and inorganic revenue. Registration and audio replay details for the event, once available, can be found on Evoqua's Investor Relations website: https://aqua.evoqua.com. Prior year net income included the net pre-tax benefit from the divestiture of the Memcor product line of $57.7 million. Net income for the quarter was $17.6 million, resulting in diluted earnings per share (EPS) of $0.14, as compared to net income of $13.2 million and diluted EPS of $0.11 in the prior year period. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. Quarterly Results; Annual Reports and Proxy Statements; SEC Filings; Stock. Dan Brailer
This includes: amounts related to the Companys restructuring initiatives to reduce the cost structure and rationalize location footprint following the sale of the Memcor product line; amounts related to the Companys transition from a three-segment structure to a two-segment operating model designed to better serve the needs of customers worldwide; and. We do this by using extraordinary people and flexible capital to help companies solve problems. Dan Brailer, Vice President of Investor Relations, and Michael . Enriching Life. The following is a reconciliation of the change in adjusted net income and adjusted earnings per share for the years ended September30, 2021 and 2020. Email Address * Investor Alert Options * News: Events . Organic revenue is another metric used by management to evaluate the performance of our business. Private equity funds managed by Blackstone acquired DESOTEC in 2021. News; Events & Presentations; Financials. Registration and audio replay for this event will be available on Evoqua's Investor Relations website: https://aqua.evoqua.com. DESOTEC, founded in 1990, is the leading European provider of mobile filtration solutions through a unique and circular service concept, which helps protect the planet by enabling clean water, air, and soil. Management uses adjusted EBITDA to supplement GAAP measures of performance as follows: In addition to the above, our chief operating decision maker uses adjusted EBITDA of each reportable operating segment to evaluate the operating performance of such segments. We exclude the effect of foreign currency translation from organic sales because foreign currency translation is not under managements control, is subject to volatility and can obscure underlying business trends. Refer to adjustments on the adjusted EBITDA reconciliation above. Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Mr. Stas and Herve Fages, Executive Vice President, Applied Product Technologies Segment President, will participate in the NYSE Energy & Utilities Virtual Investor Access Day, beginning at 9:00 a.m. EST on Thursday, March 4, 2021. Lower restructuring and other non-recurring costs increased operating profit by $4.5 million, as well as non-recurrence of activity related to the divestiture of the Memcor product line in the prior year period of $0.3 million. We were very pleased with our third quarter results, particularly given challenging market dynamics. Organic revenue grew by 1.6%, or $23.1 million, due to the same factors that influenced organic revenue growth in the quarter. to assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance; in our management incentive compensation, which is based in part on components of adjusted EBITDA; in certain calculations under our senior secured credit facilities, which use components of adjusted EBITDA; to evaluate the effectiveness of our business strategies; to compare our performance against that of other peer companies using similar measures. News & Events - Evoqua Water Technologies Investor Center The Company does not incorporate the information contained on, or accessible through, its corporate website into this press release. Adjusted EBITDA on a segment basis is defined as earnings before depreciation and amortization, adjusted for the impact of certain other items that have been reflected at the segment level. Adjusted net income is defined as net income adjusted for the impact of certain items, including restructuring and related business transformation costs, share-based compensation, transaction costs, and other gains, losses and expenses that we believe do not directly reflect our underlying business operations. Evoqua Announces Third Quarter 2022 Earnings Call and Webcast We exclude the effect of acquisitions and divestitures during the first 12 months following the closing of the acquisition or divestiture because they can obscure underlying business trends and make comparisons of long-term performance difficult between the Company and its peers due to the varying nature, size and number of transactions from period to period. Evoqua Water Technologies Announces Upcoming Investor Events | Business 2021. By providing your email address below, you are providing consent to Evoqua Water to send you the requested Investor Email Alert updates. Financials - Evoqua Water Technologies Investor Center Divestitures include sales of insignificant portions of our business that did not meet the criteria for classification as a discontinued operation. These and other important factors may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, or could affect our share price. Restructuring and other non-recurring expense decreased by $0.5 million. We also opened global manufacturing facilities in the United Kingdom and Singapore to support our international growth and expanding footprint. Adjusted diluted EPS for fiscal 2021 was $0.69 as compared to $0.67 in the prior year, an increase of $0.02. Investor Relations - Evoqua Water Technologies Investor Center The following is a reconciliation of total revenue to organic revenue for the three months ended September30, 2021 and 2020. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Adjusted EBITDA on a segment basis is defined as earnings before depreciation and amortization, adjusted for the impact of certain other items that have been reflected at the segment level. About Evoqua Water TechnologiesEvoqua Water Technologies is a leading provider of mission critical water and wastewater treatment solutions, offering a broad portfolio of products, services, and expertise to support industrial, municipal and recreational customers who value water. By uniting our complementary approaches, products, and expertise, we enable our customers to dramatically improve the way water and wastewater is used, managed, conserved, re-used and returned
The decline in net income of 13.5% as compared to the prior year period was primarily driven by increased operating expenses, including a decrease of $9.6 million in non-cash foreign currency translation gains on intercompany loans, partially offset by lower tax expense. Management believes that reporting organic revenue provides useful information to investors by helping identify underlying growth trends in our core business and facilitating easier comparisons of our revenue performance with prior and future periods and to our peers. Evoqua Water Technologies hiring Senior Electrical Panel - LinkedIn See Note18, Share-Based Compensation, to our Consolidated Financial Statements to be included in our Annual Report on Form 10-K for the year ended September30, 2021 for further detail. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. After submitting your request, you will receive an activation email to the requested email address. Investor Relations Newsroom Careers Data Protection Covid-19 Response . Email Alerts; Contacts; RSS News Feed Integration and restructuring costs associated with a business combination may occur over several years and include, but are not limited to, consulting fees, legal fees, certain employee-related costs, facility consolidation and product rationalization costs and fair value changes associated with contingent consideration. The following is a reconciliation of net income to adjusted net income and earnings per share for the year ended September30, 2021. All statements other than statements of historical fact included in this press release are forward-looking statements, including, but not limited to, expectations for fiscal year 2022, expectations related to customer demand, growth opportunities, supply chain challenges, material availability, price/cost, labor shortages, inflation, and general macroeconomic conditions, our goals relating to our own greenhouse gas emissions and water reuse, and statements related to the ongoing impact of the COVID-19 pandemic. Transaction Details Evoqua shareholders will receive 0.480 shares of Xylem for each Evoqua share, representing a value of $52.89 per share or a 29 percent premium based on Xylem and Evoqua closing prices as of January 20, 2023. Search below to find product documentation, tip sheets, specs, and more, Whether industrial, municipal, or recreational, we offer a range of solutions. We are pleased to maintain our previously provided outlook for the fiscal year.. Net leverage ratio is defined as total net debt divided by net income, as well as adjusted EBITDA. Higher travel and discretionary spending decreased profitability by $0.5 million. Inorganic revenue represents the impact from acquisitions and divestitures during the first 12 months following the closing of the acquisition or divestiture. The quarterly tax rate on Non-GAAP adjustments to net income was 26.0% in the year ended September 30, 2021. Evoqua has worked to protect water, the environment and its employees for more than 100 years, earning a reputation for quality, safety and reliability around the world. Investor Relations. Ecolab Inc. - Events & Presentations - Events Calendar Registration and audio replay for this event will be available on Evoqua's Investor Relations website: https://aqua.evoqua.com. {{currencySymbol}}{{item.pricing.totalPrice | intlNumber('en-EN','USD')}}, {{currencySymbol}}{{cartSummary.total | intlNumber('en-EN','USD')}}. Group Winners of Annual Water Sustainability Award Thursday, March 22, 2023 Read more Press Release Darling Ingredients Inc. Announces Third Quarter 2022 Results The following is a reconciliation of total revenue to organic revenue for the years ended September30, 2021 and 2020: Immaterial rounding differences may be present in the tables above. Patrick Baumann - JPMorgan Operator Hello and welcome to the Evoqua Water Technologies Fourth Quarter and Full Year 2022 Earnings Conference Call. Increased volume from projects in the chemical processing industry offset declines from projects in the microelectronics end market. Fourth Quarter 2021 Financial Highlights: Revenue of $426.0 million, an increase of 11.0% compared to the prior year period; organic revenue growth of 9.5% Net income of $26.9 million, a decline of 13.5% compared to the prior year period Adjusted EBITDA of $81.9 million, an increase of 8.3% compared to the prior year period Segment adjusted EBITDA increased by $0.4 million, or 1.2%, to $33.1 million in the fourth quarter of fiscal 2021, as compared to $32.7 million in the prior year period. Revenue increased across multiple product lines and all regions, driven by higher volume and favorable pricing. Transfer Agent. Inorganic revenue declined by 0.4%, or $6.3 million, as the impact of the divestiture of the Memcor product line, which closed in the first quarter of fiscal 2020, offset revenue generated from fiscal 2021 acquisitions. See the Use of Non-GAAP Measures section below for additional information regarding adjusted EBITDA and organic revenue. For fiscal 2021, adjusted EBITDA was $250.9 million as compared to $239.6 million in the prior year, an increase of $11.3 million or 4.7%. Evoqua Mergers and Acquisitions Summary - M&A and Private Equity Database Due to historically high call volume, the company is offering participants the opportunity to register in advance for the conference through the following . The Company will hold its fourth quarter fiscal 2021 earnings conference call Tuesday, November16, 2021, at 10:00 a.m. E.T. Investor Relations. DESOTEC's customer base is constantly growing thanks to a strong focus on 24/7 service and a commitment to design and deliver the best solution in close dialogue with the customer. Evoqua has joined Xylem, creating the worlds most advanced platform of capabilities to address mission-critical water challenges. These forward-looking statements include, but are not limited to, statements regarding our future financial and business performance and prospects, including sales, operating income and return on invested capital growth, margins . . Evoqua has worked to protect water, the environment and its employees for more than 100 years, earning a reputation for quality, safety and reliability around the world. Xylem to Acquire Evoqua - SEC Filings For the periods presented such events include the following: Organic revenue is another metric used by management to evaluate the performance of our business. Depreciation and amortization expense increased by $1.5 million. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. Foreign currency translation was favorable by 1.3%, contributing $18.1 million to the increase in revenue. Refer to adjustments on the adjusted net income reconciliations above. About Providing strategic insight to drive meaningful results for capital raising, investor relations, communications, executive coaching and business strategy. Headquartered in Pittsburgh, Pennsylvania, the company operates in more than 150 locations across ten countries. PITTSBURGH -- Evoqua Water Technologies (NYSE:AQUA), an industry leader in mission-critical water treatment solutions, today reported results for its third quarter ended June 30, 2022.