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Evoqua Water +6% as surprise loss attributed to one-off items

Published 11/27/2018, 08:41 AM
© Reuters.  Evoqua Water +6% as surprise loss attributed to one-off items
AQUA
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  • Evoqua Water Technologies (NYSE:AQUA) +5.9% pre-market despite posting a surprise FQ4 loss, which the company said was due mostly to one-off items.
  • AQUA says Q4 earnings were hurt by "isolated items," related to the integration of an acquisition, supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project.
  • "We are taking the appropriate actions to improve our performance and we are pleased that Neptune Benson was migrated onto our ERP system in November," the company says.
  • AQUA says its planned two-segment restructuring is progressing, and is expected to generate costs of $17M-$22M over the next two fiscal years with cost savings of $15M-$20M on an annualized basis.
  • For Q1, AQUA forecasts revenues of $305M-$320M vs. $321M analyst consensus estimate; for FY 2019, the company sees revenues of $1.38B-$1.44B vs. $1.42B consensus.
  • Now read: Ferroglobe -32% after Q3 miss; to curtail production in silicon metal, manganese-based alloys


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