Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 31, 2023  
(Exact name of registrant as specified in its charter)  
Delaware 001-38272 46-4132761
(State or other jurisdiction
of incorporation)
File Number)
 (I.R.S. Employer
Identification Number)
210 Sixth Avenue

Pennsylvania 15222
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (724) 772-0044 
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareAQUANew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
                                         Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.
On January 31, 2023, Evoqua Water Technologies Corp. (the “Company”) issued a press release announcing the financial results of the Company for the three months ended December 31, 2022. A copy of the press release is being furnished as Exhibit 99.1 attached hereto and is incorporated by reference herein.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
Exhibit No.  Description
104Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  By: /s/ Benedict J. Stas
   Benedict J. Stas
   Executive Vice President, Chief Financial Officer & Treasurer

EX-99.1 2 q1fy23exhibit991.htm EX-99.1 Document
Evoqua Water Technologies Reports First Quarter 2023 Results
First Quarter 2023 Financial Highlights:
Revenue of $435.8 million, an increase of 19.0% compared to the prior year period; organic revenue growth of 9.1%
Net income of $9.3 million, an increase of 52.5% compared to the prior year period
Adjusted EBITDA of $72.7 million, an increase of 33.9% compared to the prior year period

PITTSBURGH -- Evoqua Water Technologies (NYSE:AQUA), an industry leader in mission-critical water treatment solutions, today reported results for its first quarter ended December 31, 2022.
Revenue for the first quarter of fiscal year 2023 was $435.8 million, compared to $366.3 million in the prior year period, an increase of 19.0%, or $69.5 million. Organic revenue growth contributed 9.1%, or $33.3 million, driven by favorable price realization and higher volume for products and services across most product lines and all regions. Inorganic revenue contributed $42.9 million, primarily related to our acquisition of the Mar Cor business on January 3, 2022. Revenue was unfavorably impacted by $6.7 million in the period related to foreign currency translation. Net income for the quarter was $9.3 million, resulting in diluted earnings per share (“EPS”) of $0.07, as compared to net income of $6.1 million and diluted EPS of $0.05 in the prior year period. The increase in net income of 52.5%, or $3.2 million, was favorably impacted by increased revenues and related profit. These benefits were partially offset by increased operating expenses as compared to the prior period, including higher legal expenses as well as higher wages and other costs associated with acquisitions and inflation. The increased operating costs were somewhat mitigated by non-cash foreign currency translation gains in the current period. Adjusted EBITDA for the quarter was $72.7 million, as compared to $54.3 million in the prior year period, an increase of 33.9%, or $18.4 million. See the “Use of Non-GAAP Measures” section below for additional information regarding adjusted EBITDA.

“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.”

Mr. Keating continued, “Our outlook for the broader markets remains positive, and our pipeline continues to be robust. We have increased inventory levels to support our strong order book, as material availability remains limited in certain regions and for certain components. Despite this, our net debt leverage returned to pre-Mar Cor acquisition levels just one year after the purchase. With supply chain visibility improving and inflation abating in some key commodities, we remain confident we will reach our 100%+ cash conversion target for the year.”

Mr. Keating concluded by stating, “On January 23, 2023, Xylem, Inc. (“Xylem”) announced that we have entered into a definitive agreement under which Xylem will acquire Evoqua in an all-stock transaction. Joining forces with Xylem is an exciting opportunity for Evoqua and for our team members. This combination provides a platform to leverage our combined strengths, and we look forward to the prospect of increasing our impact to better address the most pressing and increasingly complex global water challenges. While we remain focused on executing our plan until the deal closes, we will not be providing updates to guidance going forward.”

First Quarter Earnings Call and Webcast
The Company will hold its first quarter fiscal 2023 earnings conference call Tuesday, January 31, 2023, at 10:00 a.m. E.T. The live audio webcast and presentation slides for the call will be accessible via Evoqua’s Investor Relations website, http://aqua.evoqua.com/.
Participant Details
Dial-In Numbers:
Toll Free US: 800-245-3047
International: +1 203-518-9765
Conference ID: AQUAQ1

The link to the webcast replay as well as the presentation slides will also be posted on Evoqua’s Investor Relations website.

Replay details:
US Toll Free Phone #: 800-839-5490

International Phone #: +1 402-220-2550
(Conference ID is not needed to access replay)

Replay available: Beginning 1:00 p.m. E.T. on January 31, 2023 until 11:59 p.m. ET on March 31, 2023.

Webcast Audience URL:
Dissemination of Company Information
The Company intends to make future announcements regarding developments and financial performance through the Investor Relations section of its website, http://aqua.evoqua.com, as well as through press releases, filings with the Securities and Exchange Commission (the “SEC”), conference calls and webcasts. The Company does not incorporate the information contained on, or accessible through, its corporate website into this press release.
About Evoqua Water Technologies
Evoqua 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. 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. Headquartered in Pittsburgh, Pennsylvania, the company operates in more than 150 locations across nine countries. Serving more than 38,000 customers and 200,000 installations worldwide, our employees are united by a common purpose: Transforming Water. Enriching Life.®
Non-GAAP Financial Measures
This press release contains references to adjusted EBITDA, a financial measure that is not calculated and presented in accordance with generally accepted accounting principles in the United States (“GAAP”). This non-GAAP financial measure is provided as additional information for investors. We believe this non-GAAP financial measure is helpful to management and investors in highlighting trends in our operating results and provides greater clarity and comparability period over period to management and our investors regarding the operational impact of long-term strategic decisions relating to capital structure, the tax jurisdictions in which we operate and capital investments. The presentation of this additional information is not meant to be considered in isolation or as a substitute for GAAP measures. For definitions of the non-GAAP financial measures used in this press release and reconciliations to the most directly comparable respective GAAP measures, see the “Use of Non-GAAP Measures” section below.
With respect to forward-looking guidance provided in this press release, we have not presented a quantitative reconciliation of the forward-looking non-GAAP financial measure adjusted free cash flow conversion to its most directly comparable GAAP financial measure because it is impractical to forecast certain items without unreasonable efforts due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of, and the periods in which, such items, including foreign exchange impact and certain expenses for which we adjust, may be recognized. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results.
Forward-Looking Statements
This 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. You can generally identify forward-looking statements by our use of forward-looking terminology such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “might,” “plan,” “progress,” “potential,” “predict,” “projection,” “seek,” “should,” “will,” or “would” or the negative thereof or other variations thereon or comparable terminology. All of these forward-looking statements are based on our current expectations, assumptions, estimates, and projections. 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. 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. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, among other things, the failure to complete the proposed transaction with Xylem Inc. (“Xylem”) (the “Merger”) on the anticipated terms and timing, or at all; the failure to obtain stockholder approvals or to satisfy any of the other conditions to the Merger on a timely basis or at all, or other delays in completing the Merger; the failure to obtain necessary regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Merger); the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the Company’s merger agreement with Xylem; the possibility that the Merger may be less accretive than expected, or may be dilutive; the possibility that the anticipated benefits of the Merger will not be realized when expected or at all, including as a

result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where the Company and Xylem do business; the possibility that the Merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities, as a result of the Merger; the risk that stockholder litigation in connection with the Merger may affect the timing or occurrence of the Merger or result in significant costs of defense, indemnification and liability; the effect of the announcement of the Merger on our ability to maintain relationships with customers, suppliers, and other third parties; uncertainty as to the long-term value of Xylem’s common stock; material, freight, and labor inflation, commodity and component availability constraints, and disruptions in global supply chains and transportation services; general global economic and business conditions, including the impacts of rising interest rates, recessionary conditions, geopolitical conflicts, such as the conflict between Russia and Ukraine and tensions between China and the U.S., and the COVID-19 pandemic; our ability to execute projects on budget and on schedule; the potential for us to incur liabilities to customers as a result of warranty claims or failure to meet performance guarantees; our ability to meet our own and our customers’ safety standards; failure to effectively treat emerging contaminants; our ability to continue to develop or acquire new products, services and solutions that allow us to compete successfully in our markets; our ability to implement our growth strategy, including acquisitions, and our ability to identify suitable acquisition targets; our ability to operate or integrate any acquired businesses, assets or product lines profitably; our ability to achieve the expected benefits of our restructuring actions; delays in enactment or repeals of environmental laws and regulations; the potential for us to become subject to claims relating to handling, storage, release or disposal of hazardous materials; our ability to retain our senior management, skilled technical, engineering, sales, and other key personnel and to attract and retain key talent in increasingly competitive labor markets; including as a result of the announcement of the Merger; risks associated with international sales and operations; our ability to adequately protect our intellectual property from third-party infringement; risks related to our contracts with federal, state, and local governments, including risk of termination or modification prior to completion; risks associated with product defects and unanticipated or improper use of our products; our ability to accurately predict the timing of contract awards; risks related to our substantial indebtedness; our increasing dependence on the continuous and reliable operation of our information technology systems; risks related to foreign, federal, state and local environmental, health and safety laws and other applicable laws and regulations and the costs associated therewith; our ability to execute on our strategies related to environmental, social, and governance matters, and achieve related goals and targets, including as a result of evolving standards, laws, regulations, processes, and assumptions, delayed scientific and technological developments, increased costs, and changes in carbon markets; and other risks and uncertainties, including those listed under Part I, Item 1A, “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022, as filed with the SEC on November 16, 2022, and in other filings we may make from time to time with the SEC. All statements other than statements of historical fact included in this press release are forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the Merger, the expected timing of completion of the Merger, expectations for fiscal year 2023, expectations related to customer demand, our book to bill ratio, pricing initiatives, supply chain challenges, inflation, material and labor availability, and general macroeconomic conditions, and expectations with respect to the integration and performance of our recent acquisitions, including the realization of expected synergies. Any forward-looking statements made in this press release speak only as of the date of this release. Except as required by law, we do not undertake any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise after the date of this release. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this release.
Additional Information and Where to Find It
In connection with the proposed transaction with Xylem, Xylem intends to file with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 that will include a joint proxy statement of Xylem and Evoqua that also constitutes a prospectus of Xylem. Each of Xylem and Evoqua also plan to file other relevant documents with the SEC regarding the proposed transaction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Any definitive joint proxy statement/prospectus (if and when available) will be mailed to shareholders of Xylem and stockholders of Evoqua. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain free copies of these documents (if and when available), and other documents containing important information about Xylem and Evoqua, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by Xylem will be available free of charge on Xylem’s website at www.xylem.com or by contacting Xylem’s Investor Relations Department by email at andrea.vanderberg@xylem.com or by phone at +1 (914) 260-8612. Copies of the documents filed with the SEC by Evoqua will be available free of charge on Evoqua’s internet website at www.evoqua.com or by contacting Evoqua Water Technologies Corp., 210 Sixth Avenue, Suite 3300, Pittsburgh, PA 15222, ATTN: General Counsel and Secretary.

Participants in the Solicitation
Xylem, Evoqua and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Xylem is set forth in Xylem’s proxy statement for its 2022 annual meeting of shareholders, which was filed with the SEC on March 29, 2022, and Xylem’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on February 25, 2022. Information about the directors and executive officers of Evoqua is set forth in its proxy statement for its 2023 annual meeting of stockholders, which was filed with the SEC on December 23, 2022, and Evoqua’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022, which was filed with the SEC on November 16, 2022. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the joint proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from Xylem or Evoqua using the sources indicated above.
No Offer or Solicitation
This document is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


(In thousands, except per share amounts)
Three Months Ended
December 31,
Revenue from product sales and services$435,846 $366,268 
Cost of product sales and services(305,537)(255,760)
Gross profit$130,309 $110,508 
General and administrative expense(64,076)(57,829)
Sales and marketing expense(40,386)(36,449)
Research and development expense(3,835)(3,452)
Total operating expenses$(108,297)$(97,730)
Other operating income, net1,220 1,510 
Income before interest expense and income taxes$23,232 $14,288 
Interest expense(10,074)(6,579)
Income before income taxes
$13,158 $7,709 
Income tax expense(3,890)(1,621)
Net income
$9,268 $6,088 
Net income attributable to non‑controlling interest— 101 
Net income attributable to Evoqua Water Technologies Corp.
$9,268 $5,987 
Basic income per common share$0.08 $0.05 
Diluted income per common share$0.07 $0.05 


(In thousands, except per share amounts)
December 31,
September 30,
Current assets$848,320 $831,389 
Cash and cash equivalents104,703 134,005 
Receivables, net301,128 305,712 
Inventories, net258,264 229,351 
Contract assets118,466 102,123 
Other current assets65,759 60,198 
Property, plant, and equipment, net409,992 405,289 
Goodwill476,213 473,572 
Intangible assets, net307,747 317,733 
Operating lease right-of-use assets, net57,624 53,540 
Other non-current assets107,461 109,340 
Total assets$2,207,357 $2,190,863 
Current liabilities$486,837 $483,716 
Accounts payable219,886 213,518 
Current portion of debt, net of deferred financing fees and discounts19,322 17,266 
Contract liabilities77,589 62,439 
Accrued expenses and other liabilities156,846 178,272 
Other current liabilities13,194 12,221 
Non-current liabilities990,788 997,054 
Long-term debt, net of deferred financing fees and discounts852,469 863,534 
Obligation under operating leases47,399 43,961 
Other non-current liabilities90,920 89,559 
Total liabilities$1,477,625 $1,480,770 
Shareholders’ equity
   Common stock, par value $0.01: authorized 1,000,000 shares; issued 123,567 shares, outstanding 121,903 at December 31, 2022; issued 123,411 shares, outstanding 121,747 at September 30, 2022
$1,237 $1,235 
   Treasury stock: 1,664 shares at December 31, 2022 and 1,664 shares at September 30, 2022
Additional paid-in capital616,354 607,748 
Retained earnings70,284 61,016 
Accumulated other comprehensive income, net of tax44,694 42,931 
Total shareholders’ equity$729,732 $710,093 
Total liabilities and shareholders’ equity$2,207,357 $2,190,863 


(In thousands)
Three Months Ended December 31,
Operating activities
Net income$9,268 $6,088 
Reconciliation of net income to cash flows (used in) provided by operating activities:
Depreciation and amortization33,248 28,640 
Amortization of deferred financing fees476 467 
Deferred income taxes1,852 251 
Share-based compensation6,196 5,203 
Gain on sale of property, plant and equipment(836)(4)
Foreign currency exchange (gains) losses on intercompany loans and other non-cash items(8,184)1,502 
Changes in assets and liabilities(43,293)(5,767)
Net cash (used in) provided by operating activities(1,273)36,380 
Investing activities
Purchase of property, plant, and equipment(22,742)(15,540)
Purchase of intangibles(1,120)(664)
Proceeds from sale of property, plant, and equipment1,674 1,370 
Acquisitions 1,716 — 
Net cash used in investing activities(20,472)(14,834)
Financing activities
Borrowing of debt23,700 5,949 
Repayment of debt(33,185)(19,378)
Repayment of finance lease obligation(3,905)(3,174)
Proceeds from issuance of common stock2,868 2,085 
Taxes paid related to net share settlements of share-based compensation awards(390)(1,261)
Distribution to non‑controlling interest— (100)
Net cash used in financing activities(10,912)(15,879)
Effect of exchange rate changes on cash 3,355 614 
Change in cash and cash equivalents (29,302)6,281 
Cash and cash equivalents
Beginning of period134,005 146,244 
End of period$104,703 $152,525 


Revenue is used by management to evaluate the performance of our business. Revenue growth is primarily related to organic and inorganic factors. Organic revenue growth, as a component of revenue growth, is defined as period over period revenue growth without (i) the impact from acquisitions and divestitures during the first 12 months following the closing of the acquisition or divestiture, which we refer to as inorganic impact, and (ii) the impact of foreign currency translation. Divestitures include sales of insignificant portions of our business that did not meet the criteria for classification as a discontinued operation. We disregard the effect of foreign currency translation from organic revenue growth because foreign currency translation is not under management’s control, is subject to volatility and can obscure underlying business trends. The effect of acquisitions and divestitures during the first 12 months following the closing of the acquisition or divestiture are excluded 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.
Components of our revenue growth for the three months ended December 31, 2022 and 2021 are as follows:
Evoqua Water TechnologiesIntegrated Solutions and ServicesApplied Product Technologies
(In millions)$ Change% Change$ Change% Change$ Change% Change
Three months ended December 31, 2020 total revenue$322.2 n/a$214.7 n/a$107.5 n/a
Organic41.8 13.0 %28.2 13.1 %13.6 12.7 %
Inorganic1.8 0.6 %1.8 0.8 %— — %
Foreign currency translation0.5 0.1 %0.4 0.3 %0.1 — %
Three months ended December 31, 2021 total revenue
$366.3 13.7 %$245.1 14.2 %$121.2 12.7 %
Organic33.3 9.1 %18.5 7.5 %14.8 12.2 %
Inorganic42.9 11.7 %42.9 17.5 %— — %
Foreign currency translation(6.7)(1.8)%(1.1)(0.4)%(5.6)(4.6)%
Three months ended December 31, 2022 total revenue
$435.8 19.0 %$305.4 24.6 %$130.4 7.6 %


Use of Non-GAAP Measures
The Company reports its financial results in accordance with GAAP. However, management believes that certain non-GAAP financial measures provide users of the Company's financial information with additional useful information in evaluating operating performance. We use the non-GAAP financial measures EBITDA and adjusted EBITDA in evaluating the strength and financial performance of our core business.
EBITDA and Adjusted EBITDA
EBITDA, which is a non-GAAP financial measure, is defined as net income (loss) before interest expense, income tax benefit (expense), and depreciation and amortization. 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.
Adjusted EBITDA is one of the primary metrics used by management to evaluate the financial performance of our business. We present adjusted EBITDA because we believe it is frequently used by analysts, investors and other interested parties to evaluate and compare operating performance and value companies within our industry. Further, we believe it is helpful in highlighting trends in our operating results and provides greater clarity and comparability period over period to management and our investors regarding the operational impact of long-term strategic decisions relating to capital structure, the tax jurisdictions in which we operate and capital investments. In addition, adjusted EBITDA highlights true business performance by removing the impact of certain items that management believes do not directly reflect our underlying operations and provides investors with greater visibility into the ongoing organic drivers of our business performance.

Management uses adjusted EBITDA to supplement GAAP measures of performance as follows:

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 make budgeting decisions; and
to compare our performance against that of other peer companies using similar measures.
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. 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 EBITDA of the reportable operating segments do not include certain charges that are presented within corporate activities. These charges include certain restructuring and other business transformation charges that have been incurred to align and reposition the Company to the current reporting structure, acquisition related costs (including transaction costs and integration costs) and share-based compensation charges.
EBITDA and Adjusted EBITDA should not be considered a substitute for, or superior to, financial measures prepared in accordance with GAAP. The financial results prepared in accordance with GAAP and the reconciliations from these results included below should be carefully evaluated. You are encouraged to evaluate each adjustment and the reasons we consider it appropriate for supplemental analysis. In addition, in evaluating adjusted EBITDA, you should be aware that in the future, we may incur expenses similar to the adjustments in the presentation of adjusted EBITDA. Our presentation of adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items. In addition, other companies in our industry or across different industries may calculate adjusted EBITDA differently.

The following is a reconciliation of our net income to EBITDA and adjusted EBITDA (unaudited):
Three Months Ended
December 31,
(In millions)20222021
Net income$9.3 $6.1 52.5 %
Income tax expense3.9 1.6 143.8 %
Interest expense10.1 6.6 53.0 %
Operating profit $23.3 $14.3 62.9 %
Depreciation and amortization33.2 28.6 16.1 %
EBITDA$56.5 $42.9 31.7 %
Restructuring and related business transformation costs(a)
1.7 1.4 21.4 %
Share-based compensation(b)
6.3 5.3 18.9 %
Transaction costs(c)
3.3 0.9 266.7 %
Other losses (gains) and expenses(d)
4.9 3.8 28.9 %
Adjusted EBITDA$72.7 $54.3 33.9 %
Revenue$435.8 $366.3 19.0 %
Net income as a percent of revenue2.1 %1.7 %40 bps
Adjusted EBITDA margin16.7 %14.8 %190 bps

(a)Restructuring and related business transformation costs
Adjusted EBITDA is calculated prior to considering certain restructuring or business transformation events. These events may occur over extended periods of time, and in some cases it is reasonably possible that they could reoccur in future periods based on reorganizations of the business, cost reduction or productivity improvement needs, or in response to economic conditions. For the periods presented such events include the following:
(i)Certain costs and expenses in connection with various restructuring initiatives, including severance and other employee-related costs, relocation and facility consolidation costs and third-party consultant costs to assist with these initiatives. This includes:
(A)amounts related to the Company’s restructuring initiatives to reduce the cost structure and rationalize location footprint following the sale of the Memcor product line;
(B)amounts related to the Company’s transition from a three-segment structure to a two-segment operating model designed to better serve the needs of customers worldwide; and
(C)amounts related to various other initiatives implemented to restructure and reorganize our business with the appropriate management team and cost structure.
(ii)Legal settlement costs and intellectual property related fees, including fees and settlement costs associated with legacy matters related to product warranty litigation on MEMCOR® products and certain discontinued products. Memcor ® is a trademark of Rohm & Haas Electronic Materials Singapore Pte. Ltd.
(iii)Expenses associated with our information technology and functional infrastructure transformation, including activities to optimize information technology systems and functional infrastructure processes.
(b)Share-based compensation
Adjusted EBITDA is calculated prior to considering share-based compensation expenses related to equity awards. See Note 17, “Share-Based Compensation,” to our Unaudited Consolidated Financial Statements included in our Quarterly Report on Form 10-Q for the three months ended December 31, 2022 for further detail.

(c)Transaction costs    
Adjusted EBITDA is calculated prior to considering transaction, integration and restructuring costs associated with business combinations because these costs are unique to each transaction and represent costs that were incurred as a result of the transaction decision. 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.
(d)Other losses (gains) and expenses
Adjusted EBITDA is calculated prior to considering certain other significant losses, (gains) and expenses. For the periods presented such events include the following:
(i)impact of foreign exchange gains and losses; and
(ii)legal fees and settlement costs incurred in excess of amounts covered by the Company’s insurance related to securities litigation and SEC investigation matters.
(1) Variance presented as a percentage for items presented in dollar values or basis points (“bps”) for items presented as percentages.

Adjusted EBITDA on a segment basis is defined as earnings before interest expense, income tax benefit (expense) and depreciation and amortization, adjusted for the impact of certain other items that have been reflected at the segment level. We do not present net income on a segment basis because we do not allocate interest expense or income tax benefit (expense) to our segments, making operating profit the most comparable GAAP metric. The following is a reconciliation of our segment operating profit to our segment adjusted EBITDA:
Three Months Ended December 31,$ Variance% Variance
(In millions)Integrated Solutions and ServicesApplied Product TechnologiesIntegrated Solutions and ServicesApplied Product TechnologiesIntegrated Solutions and ServicesApplied Product TechnologiesIntegrated Solutions and ServicesApplied Product Technologies
Operating Profit
$42.7 $21.0 $35.3 $17.8 $7.4 $3.2 21.0 %18.0 %
Depreciation and amortization
22.5 3.4 17.8 3.5 4.7 (0.1)26.4 %(2.9)%
$65.2 $24.4 $53.1 $21.3 $12.1 $3.1 22.8 %14.6 %
Restructuring and related business transformation costs(a)
1.5 0.1 0.5 0.6 1.0 (0.5)200.0 %(83.3)%
Transaction costs(b)
2.3 — (0.1)— 2.4 — (2400.0)%n/a
Adjusted EBITDA$69.0 $24.5 $53.5 $21.9 $15.5 $2.6 29.0 %11.9 %
(a)Represents costs and expenses in connection with restructuring initiatives in the three months ended December 31, 2022 and 2021, respectively. Such expenses are primarily composed of severance, relocation and facility consolidation costs.
(b)Represents primarily costs associated with a change in the current estimate of certain acquisitions achieving their earn-out targets, as well as costs associated with the integration of recent acquisitions.

Net Leverage Ratio

Net leverage ratio is defined as total net debt divided by net income, as well as adjusted EBITDA. Total net debt is defined as total debt including finance leases less unamortized deferred financing fees minus cash and cash equivalents. The following is a reconciliation of net leverage ratio for both net income, as well as adjusted EBITDA, at December 31, 2022 and 2021, respectively.
As of and for the Three Months Ended December 31,
(In millions)20222021
Cash and cash equivalents$104.7 $152.5 
AR Securitization Program$150.3 $144.2 
Revolving Credit Facility136.5 27.3 
First Lien Term Facility467.9 472.7 
Equipment financing facilities126.5 97.4 
Finance lease obligations38.5 37.6 
Total debt including finance leases$919.7 $779.2 
Less unamortized deferred financing fees(9.4)(11.3)
Total net debt$805.6 $615.4 
LTM Net income$75.6 $51.3 
Net leverage ratio based on net income10.7x12.0x
LTM Adjusted EBITDA$316.1 $260.4 
Net leverage ratio based on adjusted EBITDA2.5x2.4x

Immaterial rounding differences may be present in the tables above.

Dan Brailer
Vice President, Investor Relations
Evoqua Water Technologies
Telephone: 724-720-1605
Email: dan.brailer@evoqua.com

Sarah Brown
Director of Corporate Communications
Evoqua Water Technologies
Telephone: 506-454-5495
Email: sarah.brown@evoqua.com

EX-101.SCH 3 aqua-20230131.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 0000001 - Document - Cover link:presentationLink link:calculationLink link:definitionLink EX-101.LAB 4 aqua-20230131_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT Entity Central Index Key Entity Central Index Key Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Trading Symbol Trading Symbol Entity File Number Entity File Number Pre-commencement Issuer Tender Offer Pre-commencement Issuer Tender Offer Soliciting Material Soliciting Material Entity Address, City or Town Entity Address, City or Town Entity Incorporation, State or Country Code Entity Incorporation, State or Country Code Local Phone Number Local Phone Number Entity Address, Postal Zip Code Entity Address, Postal Zip Code Written Communications Written Communications City Area Code City Area Code Cover [Abstract] Title of 12(b) Security Title of 12(b) Security Document Type Document Type Amendment Flag Amendment Flag Security Exchange Name Security Exchange Name Entity Registrant Name Entity Registrant Name Entity Emerging Growth Company Entity Emerging Growth Company Entity Address, State or Province Entity Address, State or Province Document Period End Date Document Period End Date Pre-commencement Tender Offer Pre-commencement Tender Offer EX-101.PRE 5 aqua-20230131_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT XML 6 R1.htm IDEA: XBRL DOCUMENT v3.22.4
Jan. 31, 2023
Cover [Abstract]  
Document Type 8-K
Document Period End Date Jan. 31, 2023
Entity Incorporation, State or Country Code DE
Entity File Number 001-38272
Entity Tax Identification Number 46-4132761
Entity Address, City or Town Pittsburgh,
Entity Address, State or Province PA
Entity Address, Postal Zip Code 15222
City Area Code (724)
Local Phone Number 772-0044
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Written Communications false
Title of 12(b) Security Common Stock, par value $0.01 per share
Trading Symbol AQUA
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0001604643
Entity Address, Address Line One 210 Sixth Avenue
XML 7 aqua-20230131_htm.xml IDEA: XBRL DOCUMENT 0001604643 2023-01-31 2023-01-31 false 0001604643 8-K 2023-01-31 EVOQUA WATER TECHNOLOGIES CORP. DE 001-38272 46-4132761 210 Sixth Avenue Pittsburgh, PA 15222 (724) 772-0044 false false false false Common Stock, par value $0.01 per share AQUA NYSE false 2023-01-31 2023-01-31 EXCEL 8 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 9 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 10 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 11 FilingSummary.xml IDEA: XBRL DOCUMENT 3.22.4 html 1 22 1 false 0 0 false 0 false false R1.htm 0000001 - Document - Cover Sheet http://www.evoqua.com/role/Cover Cover Cover 1 false false All Reports Book All Reports aqua-20230131.htm aqua-20230131.xsd aqua-20230131_lab.xml aqua-20230131_pre.xml q1fy23exhibit991.htm http://xbrl.sec.gov/dei/2022 true false JSON 13 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "aqua-20230131.htm": { "axisCustom": 0, "axisStandard": 0, "baseTaxonomies": { "http://xbrl.sec.gov/dei/2022": 24 }, "contextCount": 1, "dts": { "inline": { "local": [ "aqua-20230131.htm" ] }, "labelLink": { "local": [ "aqua-20230131_lab.xml" ] }, "presentationLink": { "local": [ "aqua-20230131_pre.xml" ] }, "schema": { "local": [ "aqua-20230131.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://xbrl.sec.gov/dei/2022/dei-2022.xsd" ] } }, "elementCount": 23, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2022": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 22, "memberCustom": 0, "memberStandard": 0, "nsprefix": "aqua", "nsuri": "http://www.evoqua.com/20230131", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "aqua-20230131.htm", "contextRef": "i40fb9227f15a4aa89374ba1c24eb5c07_D20230131-20230131", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "0000001 - Document - Cover", "menuCat": "Cover", "order": "1", "role": "http://www.evoqua.com/role/Cover", "shortName": "Cover", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "div", "body", "html" ], "baseRef": "aqua-20230131.htm", "contextRef": "i40fb9227f15a4aa89374ba1c24eb5c07_D20230131-20230131", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2022", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation, State or Country Code", "terseLabel": "Entity Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer", "terseLabel": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer", "terseLabel": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security", "terseLabel": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2022", "presentation": [ "http://www.evoqua.com/role/Cover" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12", "role": "http://www.xbrl.org/2003/role/presentationRef" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425", "role": "http://www.xbrl.org/2003/role/presentationRef" } }, "version": "2.2" } ZIP 14 0001604643-23-000019-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001604643-23-000019-xbrl.zip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

P+Y!+:>_PU8+>!)0$6M.X12R 0W=5'EE9(L*-V-;+_ ')_#F$2HW6,* M.R $'!XA?4L>%1,$Q*%CU!0DY6.0)S@M"I-_ U='+A>L*'8L1>HD?:G"A)I M+A#7#&1"KOU,VQL+E)(!%*5#DFO4&1SVD&5' $BUT469)*21Y/ME!LV: B#G M^UG H<(=D&D@<> / C&5[-M+W!!<)&D;%;EGUI+97,8\[K*5 M1C1]RG&1""D]AWT 6I2,QYX<(O1R9K$Z IX(=Q864=((Q9D3E#(:=$'2Y8 5\([!%M3 M^ V% ON1&A\%_I]D^CZ5XE282B"]1+QBQH!?NA(@L.XB@6DB>DTB4DJT(+S! MLH1_$&&S1F%FS$N+$1Y$PX $DLC \@&M@SB>DS4:J7M!:JJ@'>HYB:>4JU"Y M M]@/?( _W% YH,! 3_ YNI3!]4JF&HINM&8U.@M&7KG_0;6[X-1!1PKG:@Y MBR>U/EFD<;477(WH=[2OW0$3"B_S 00Z4&-KE.P:)9GKFH2SII (;L32H$%& M$K[PF*'_F'FQR%@#$G%8+@TSN[E6TDCDHQ@JN(A$.5*T!XZP(2VU(6?]@JF6 M4JZ@Z'"Y9P% 8Q04A[0F\6BM,$'$!DL#'\OM4I@J2F J]12ZM/,A%V&AIK-* M\W0VA,=HZ,.\41JY>]$HG"23(7W P 7S4^\6WQS+J+9:F0?6L+<8;521HL= ME;G0,M['&$HO+R"$!TV(C:A%($72NXI+IB63QO"(E/-FZ.B[X(85X"'7^3+AZ M-@UOBL@D>9M'0A?"EN*M&,D:A(7(YSOQ\:KH9[JEU?Q<&NY=?6H NPL2SU7> MF/3AP/1#R@2>ZL&BXP0( _ (G!YB+ !=/B#YP%A^W,107+JKC[7N9\*7:2#N MJ>?$TB4+P!+1]E2&:C\,1OA%Q HG:H)27?0N@TFZ0=P-XTDRENC?PS M2 17,-\!20:NC3LC=(2(DLR>1?CD.FB$[Y_D,,-8)!V/PV <+1PUAEQUAK,)]SQ\ M,O&I,%%EX#GQDR@!P $@\50H1!\DS(()\Z6IV/\8\C.[J/(SC3*EX-(]G'VD(,B8KN :/5V<%:.H# M%@XP05(\I263\8!HZ@*0\>@X8J?I M+V=I/A;WQ?[$0V>S,,<7S/5T$>^37RLRZG9KG::-E*0R#M6+%9'5!)&E>6$S MW[6LFM5MK?RZ7C.+WU4BH>V51JX-4A.^;%KK@G2#[YKV=K/N9;%VI_GBBP4J M[]AKS?I$]NV3K:Y>@\+,YL+[ES2ZDA)D/VV<%M)R"HVK/P6BZ\^%UF.#IE&^!M<^9VZ$5Q8+%]E1WS$5^ MGF?I/??2?=I)?58SW37VOZ?6GVMNO%NSG]4>]6D [+DKKB;DXR#D5LT\;$+. MYEB_O7/)&SBOB=FFM>T5Y-5HTKPF&/ZZB?>^[FUII99EUWF9BCI+TA;:AO*@ MA%4VC_ M)L_4#@/L?[EYWK(W#O%O"H$]^W":DH^#DLW&H5/R@4@GH5M+4J&(RX?*Q<39M>1^-2V7;-TFYON7%D=71HHNPX,K?.:3@^=5GJ MX^WET8FYEIGETDS5"DDNV=HXEV>C[5JF$Z3]GKK[:/6S%-:]O$"1V:V%ED5*.H["@R.SI]I3R2 M6H\LM3UXX.'#^_GNS14T!!UM"!Y;8'#S7' ===HQBNH;&QD:1;L.#+9:>PJP ME]X2/+K T(UH^:[NEWTK;F1Y-W//; 4- U<;!L<6(6KH=BME1]&^.GEH%&V2 M5:\C1(=0X+0\8WONWB*=NKV^W7NT-;@'UF:S;6WK^92F!E3 M5XR2#SP*8V_>(O+ @C#I(M*1XL+8%S?52VYY[&CD.G4=-M"2&R1XH]B\.%CG MBHP7P%#%5[ETCF/P+&[9 _,3W;YQ SOL"$RM"EE3#;NY<7BJ?.=6FN:J1'-V M:_.\QO+1W(%;Z6;WV/MK:BN]!%9ZJ2WC%F(=P;B)=2A M-L*/+!W..MH&2]IX*7,=M::/:M!'XWA,V]XXVD<>8)G.^\F(A@.N.YD>3SZ/ MN7F>[Z'D\^B$KS5;DA_K]5J:0-8+?VUJ(E27/I::".]CVO-8FDDN?L@A/?Q2 MC4Z_2UV)W,VI:<'K9_+_[=8LWE%-\_YTMB; [+QF48"8\93'L #G<5/" M0M@4NG"584&SX&S5[ ;"ZID]T5X*C;LG7VN9M<(A*^0IXOI_ 2EDVO>QJ$N V@G! ?=6Q7[YWR++-& +=,,I-9.$K;'0< M!N*O!QY/"1_!GP]LA/$TGS$7G@C$"P$^8YB0(?P8 # 8<0(,4T!QW_$2EXF1_<#S@@G ^^>?FITSLC41MJTU9 E2ZI[( M\BU_;,A#]V1,0S4F\6(*$)4#@#0IL X0N%AT+!BTL,@:\"S/2# 2 M5+/4!D^(&27E!]"EJ5#);6%@F (_]A)*.L?A#$(/P!")G$$<]'%(2LDI"? MV,C)A2'!#0%]= ^8/GXK$WVT.AO0A]#(7*(V#$:$PJ@09$O$!D)QY22!$H'$ MDR#[*LCN$QP%+O,(B % CGQ5C\4QB"K8T(.D+Z$ D4 J8H+,"6\80E(P?F4D6)BM14 AF0%.R]5'<0.@9I M '(#W@3VG4\'TBR*&1V)"6;%3VT3\T5]A+FW&63I6 MOC/U15P>@6T#4BH17HL<44M5E'J2X]$W2$*7 3%]1REU&PQ'\*T-IO0?E$;D M"G<=!CX8ZI]@;4#(7D3N8)=T' /?(E9C7R,W8T(MRJ4JNSN_9'JH@PS:W4; M07&5VMGS%!4(UR[W-&/F#'U8Z6 J;>/$=Z1Q@Z-"6M!R,QYJD9RI].NX-)V" M,?B@*.]6O"6:@O,\BIYX&Q"DP[!7PO:$DT<-RAGIZ54@TO-4.]/C"^5$*R"2 M>[8%(!@1&5VZ9 X;]<#LL4V#6'7+$H/[22AL M(9>!-O%6*@BP\4'%0G5\T=H#[:T#XL]I=Z$3J/9+8V F>9 .+_[_>R1 M+-OB:D%0/X#0O%-J@=T5YV4+_0:EK%G\>;P2/,Y!9 C#?1#FL<'9J-!RHSQS MXD#^]T#TRB!XCSDTB9@*"*HGP9))?/YG(B/:U!D6WZY>J$+8:7@1P_$3%J+] MY"1A""\5^:K% M@,=CL4\_P(#6B$O59Z2!T]3?,80OXZG?4R=D5<1V18@67YPZ/GD0;CY\VZ<\ M!(_= Z@[0^H/EEC!TO,92+!+TA"SU-8^'S@$@>:66J!)"W3MOFDOA;#J"+*4 MB610"D.,O,\=/*F0X#*6PJOV[#.TK2%>_FADB3SY] R-C\8@Z%'P@]D-H]'3 MD&*-".P*Y$J$;QHNKB2&2H0B%1?,%=ORH%ZFR+G ':I:P&8:9790P6+JQ'3I M,01@.)'GG 6_,F(PHXRX%,)^^/*[JPMXY $4?_JIBAVN'4.%*N M^+NE$\'+\E>M#6O[,06T(O.)NW][PWMM&QWQ>L=T6HV695.K1_NLRYQ6OV&V MF]:_K,Z;)6\OK;)#XB7IZ9E$ /S/97WN2^""V>D#0:*5C5)0F.UHW:9:S4AK MM6+Z \;X\&1,WJHOI?YST=!&&S!E%6# ,%;6HT%HNJ0T$I++W5D]*U$OS/0A M?6#P-H:)*WV,@^-B8WGJJS;C@3;U:H1\8T!IPD9.S7T_+S!;LOW4FYADSU%/ M'#4O[EWFSCRR>Q4\4B\ LV!$OXO\H^R8$FQJ? 07/L+S)@QLT1 3\LCOY^=? MR(C%(7*[EKQB9BTYU"4A;&)>M!=/N);%?T1: M81Y3$MU-'.3Y<<1.TU_.TK1U[@MB%0^=S;YO22M<\3[Y=1Z5J=5E9$;5/*@W MJZ]KXJNYW$[U7;M6MSHKOZ[7S-6//C)MI]:H6UO-^OAW37OU.[=?:ZO;K,Q: M-5SM3J,R<'V=M6JXOLY:.TU[K5E7M$ZP'FF=\'2!@9E7&$A]D9K&3S7Q6U1 MN\F[[ZQ5I78OCG8^R:.=JX6CG36*-IX$7?<-"8/)?)U&I:#TE\R7T "1U3S+ M ?(:G->=9[RU6F>6&WSHIZU3#[7.AH\-<.9+L. 30Y^H3RY%&7+WR7CZ\D*K MM]<^@?=X>#[U[J6(L!+$DYZ$@8Z[PYP!<4(GXF,L?. .BUZ=)0\1JN?CL<OAOZYAI-QP= QU@*I.E8TW'5Z=AN M'OK]2YJ.CX&.S?:V%U]H.M9T7)Y]MVL-3<::C*M.QG;-.FPR7JMAYHN0=.EP M6T[79P^ V'NO]@,C++.C">LE[G1_9H_W,@64E\/G\K%B@^71Y;78JH0-CM<4 MR5:MN9<&Q[H']?H6T::&O<90Z4,(&D6[9B(MYLJ-H<:>KNK0&%H70V_K-7,A M755CIR38L5I[LA/V[N9H\EB'>:U:=]?,NW?*T!E5\_"1]=PZC^IX ^RMYJ%' MV#4='P,=6PU]X*GIN/ITW+2WO<1:T[&FX_+LVS)U/N"*?1PS$5>(@DWKQ26Q M)E]-OKL[XCADZMTDNZ5ZT3G+VC8)N>HA.DT>ZVBF1JUUG.2A4YCFX?/,2YY? M=,7-6J>YQJ*7W"Z#RN8$--:2[IUXAP_.,'/I]C'E9)DZ5Z'D&*IO;&II#.T: M0YJ'RHZA34T:C:%=ZZ%-D^HUAG:>D=74&5EEQ8Z%3>=U2I:FCU7>$2TTH&E7K/"2I5-H1L;7LZK\^ M=H0A<;6<-7\-L,92N;"T61&,QH[F(8VE15VT9>:NQI#F(XVE0DU7 T-,NU9' M>P\AO#1Q/,^I*QVP_)]_:K3/J(ZZZ)'5&_E""3]2?M>7A%_F0RG[X=P55P7, M7KN[:6AX]EI$&Z#@!@E>LYLN_"A3?%\8.*46_:WNMB=.+P2>/1\H:@[1'/)D MV>B6F4&:0S2'' .'-+?NE:4Y1'/(,7"(9=:ZFD.VW*5FC^="IM2\839?17MH MQM",46W&L+;-=S\ OECK&*:R>9S6UD&78SF(.6KR,+>V%JM.'B*6_SZF(*S2 M9+M"DN.(A@/NIW(-YY])>[1;LWC%R#CO3V?C]SCHI7W:HE#E_SXM3= MOWX65%:CUA4<=8O7&T0 F4CF9XKR8/9CS/P(WLPQ:]/WF4S@G/!X2,*98F+N M\YB+5$HQ.!XR^'_(&!G!J6)5X%O\"?,.D8 M7_+ O&F-W"7.,%\##1D9AQQP#R"!Y8S&001S!GT2,:!CZCL,)_ ")[^CH4\= M[O$8A_M"OQ7*FFNSN9P'1%Z],I&7W9@CKR(.!:%%48#W:@ N!6%1X@RI/V I M'3E)&,*#!.@-'HP98MP!N47A>^K\F7"9RPL3.4/.'I :X3$>$D9#_R1(8A(# M/ED<&? J,F&>A_\N?S>^CZNKS)%0X%4APWO!9]ZTFG(4(/#"8H&*YL%]_Z:'N M74'ABW)O3V2'^_'2_0AV)3PB+NO#2!X1>(_>S,RR;7G[A.UZ"0H_ MZB'8&$459:'+3427]T4!,_!\PRD MF:L&BD<8# 0:3D FT6@HU);XA8' >: >RDQ8"@BF?N!YP41H6U@L"J; 1_66 MB2I_$23]("0@6X9K[AF^BS?4TDNH2)AMN6037B:0A4?'$3M-?SE+4SBX+Y K M'CJ;5;U+JC$$_Q+8"6V$>V';?I*V[=6,;4N 83;)G]NVYNN5 "%F/.4@V[BS3A[IM0_" MR_/0+%I()EWFX*\;C@P,S?AC(V[#MJL:6Y=0[EC&T9 MY&*5PG^E)I3[C?^O"90#Z\"YYJ[-^N:W6%6I":>FX(.GX.;F%X+NA(*5FIF+ MT9@=09\O?0Y1]3EVW;I@'Y1Z?DONF).$/+V^EWP)@T%(1\^IACI0T50I 50_ M@$X%FN8J17.-QK9W8KV@:GMNR5.IR>>6/02>.-:Y")G+8_)!'>JM]+\KE@NP M+JG9+=V9M.Q(LMH;JZ 7Q-$Q&&\?>!C%Y"-G/KEGX>AYTJ"$]?MK@J'1:F^< M&U0^8^?0D=2VM@WJ[$ <'&P%=ZGEU]6?"1^/,*6D< 8L91AG"X'? U>7IJ5M MFM(CJ=O>T_7P1V33%-)&2-"#%8FXU';BH+KZTNYL&T'6-LW.<-3>TX52!V@A M+#\GOW\ZLVS+0J"*G:XM!\^V!6)5.5U;ONNNV:VU]Y36K?KZ/:,"K=PU9II[ M#IU[VNUNS=+<T?TG\CDK"'W.J4[9).@+]90JI9QUUC9\ES0WP&D*7!'ZADO\E;C8I601C.3C,>JW]0]_C ML@G$K%I]%F(O8CJNFPA3]3D.2\:L-@*WO35$UZ*44"W;9JMF5CY]1M-2/C83GKF]N"]''Y_4(@*9]Y8]6:V]F#KV X5 1@C27FX$*#U74ZP%6J M%^;U"%M&AIQZ1. 0S_M=WN^SD/D.-EZC4]+#OJ*B.676NA3!$A':"Q[8L@9G MCP!IO6Z'C?J;)9!5S<\P5-E=!3&8Q+$[LQ [Q_VM@E.SUEP+4ASP*N'X,^$DF_(:.2>.4,?7C@H%K/L9UWWS&/C8>"SGW]J=LY( MVVJ0G6Y/03:R$$>] M^=6E?JTG2?_GGUJ-,R;P6W."T4:B<+<@_<1<3O>\ACL:TB%(C6#B[UMZ\9 Y M*"."/KD(PC%BF<%OHU'B37M1:C3KK9-&LW'2;'3+(S7*)2^D#(N0 M^$%N /$_1VK,Q2>/JY.V-0N.F9^]P)W"/\-XY/WZ_P%02P$"% ,4 " ## M-C]6*"+L:5P7 "$JP $0 @ $ 87%U82TR,#(S,#$S M,2YH=&U02P$"% ,4 " ##-C]66(MJ9&4" !H!P $0 M@ &+%P 87%U82TR,#(S,#$S,2YX&UL M4$L! A0#% @ PS8_5H"B(WVE!@ V# !4 ( !E"0 M &%Q=6$M,C R,S Q,S%?<')E+GAM;%!+ 0(4 Q0 ( ,,V/U:<^*4?[5D M %;A! 4 " 6PK !Q,69Y,C-E>&AI8FET.3DQ+FAT;5!+ 4!08 !0 % $8! "+A0 ! end