AquaVenture Holdings Limited (WAAS) Tops Q3 EPS by 12c, Revenues Beat; FY18 Revenue Guidance Above Consensus

AquaVenture Holdings Limited (NYSE: WAAS) reported Q3 EPS of ($0.10), $0.12 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $36.8 million versus the consensus estimate of $34.1 million.

“I am pleased to report another quarter of double-digit revenue and Adjusted EBITDA growth, in addition to continued success on the execution of our organic and inorganic growth strategies,” said Doug Brown, AquaVenture’s Chairman and Chief Executive Officer. “Our financial results were driven by both organic increases from strong underlying business operations and inorganic additions from completed acquisitions. In addition, in October we completed an additional tuck-in acquisition in Quench and we entered into a water sale agreement with a new Caribbean water customer. In November, we acquired AUC, a provider of wastewater treatment and water reuse solutions, and we amended our senior secured credit agreement to accommodate our increased borrowing to fund the AUC acquisition and reduce the cost of our loans. The collective result of these transactions is the expansion of our Water-as-a-Service solutions into new geographies, for new customers, with a broader array of offered products and services. We are excited to see the results of our M&A efforts, and continue to actively work on additional deal opportunities, including the previously announced Ghanaian transaction. We strive to continue this momentum through the remainder of the year and look forward to building on our commitment under Tony’s leadership next year to bring clean, potable water to more people throughout the world.”

GUIDANCE:

AquaVenture Holdings Limited sees FY2018 revenue of $141-144 million, versus the consensus of $140 million.

For earnings history and earnings-related data on AquaVenture Holdings Limited (WAAS) click here.

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