Evoqua Water reports Q1 EPS 7c, consensus 14c

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."