Stock Alert: Evoqua Water Touches New High

(RTTNews) - Shares of water treatment services company Evoqua Water Technologies Corp. (AQUA) jumped $3.47 or 16.89% on Tuesday to touch a new high of $24.12 after the company reported better-than-expected first-quarter earnings. The stock almost doubled in the last one year and closed the day's trade at $24.01.

We had alerted about the stock on Dec. 11 last year, when the stock was trading at $19.48. Since then, it gained 23.25%.

Revenue in the first quarter increased to $346.1 million from $323 million in the comparable quarter last year.

The company reported net income was $53.5 million or $0.44 per share compared with net loss of $16.3 million or $0.15 per share in the corresponding quarter last year. The results included a pre-tax benefit on the sale of the Memcor product line for $49.0 million, which was completed in December last year.

Adjusted EPS was $0.04, that beat average estimate of analysts polled by Thomson Reuters of $0.01.

For the full-year, Evoqua re-affirmed its revenue outlook of $1.40 billion to $1.46 billion. The consensus estimate is at $1.44 billion.