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Evoqua Water Technologies Corp.

aqua.evoqua.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed May 2, 2023. Its latest SEC filing is a SC 13G/A from Feb 1, 2024.

The sections below describe the company as of the FY2022 annual report.

What Did They Do?

Provides water and wastewater treatment systems, technologies, and services for industrial, commercial, and municipal customers.

How Did They Make Money?

Customers buy water-treatment products and equipment, with product sales tied to shipment or delivery. Evoqua also provides short-term services as performed and longer-term services over the agreement; customized projects generally use milestone billings.

FY2022 revenue

Who Were Their Customers?

Industrial, commercial, and municipal end users buy water-treatment systems and services directly; OEMs, system integrators, distributors, and engineering firms buy products through indirect channels.

Did Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2022 and turned 6 cents into free cash flow.

Operating income, FY2022
6% of revenue
▲ +5% vs FY2021 ($99.3M, 7%)
Net income, FY2022
4% of revenue
▲ +40% vs FY2021 ($51.5M, 4%)
Free cash flow, FY2022
6% of revenue
▼ −4% vs FY2021 ($103.4M, 7%)

How Were They Changing?

Since the FY2022 annual report
Latest quarter: Q2 FY2023, the three months to Mar 31, 2023
Revenue
▲ +12%
vs $426.7M in Q2 FY2022
Net income
▲ +45%
vs $7.3M in Q2 FY2022
  • May 24, 2023 Evoqua and Xylem completed their merger Evoqua shares were converted into the right to receive Xylem shares under the merger terms.
  • May 23, 2023 Evoqua and Xylem received all required merger regulatory approvals The companies said they anticipated closing shortly after receiving the approvals.
  • Jan 23, 2023 Evoqua agreed to merge with Xylem The agreement provided for Evoqua to become a wholly owned subsidiary of Xylem.

Grew. Revenue grew 30% in 4 years, from $1.3B in FY2018 to $1.7B in FY2022, about 7% a year.

Medical water treatment The latest report adds Mar Cor's hemodialysis water equipment and services and says the acquisition expands Evoqua's reach into healthcare; the older report describes water-treatment systems and technologies for industrial, commercial, and municipal uses.

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