Evoqua Provides COVID-19 Business Update and Announces Second Quarter 2020 Earnings Call and Webcast Date

Evoqua Water Technologies Corp. (NYSE: AQUA), an industry leader in mission-critical water treatment solutions, today provided a business update in light of the expanding impact of COVID-19, withdrew its previously announced fiscal year 2020 guidance and announced plans to hold its second quarter earnings conference call on Wednesday, May 6 at 10:00 a.m. E.T. A press release detailing the company’s second quarter 2020 results will be issued prior to the call.

Evoqua is an essential business that continues to operate during the COVID-19 global pandemic, providing mission critical water service and support to both government and private water systems, including many life-sustaining end markets. Core end markets served by Evoqua include hospitals, labs, pharmaceuticals, food and beverage processing, municipal water and wastewater treatment, and industrial operations, such as power plants and hydrocarbon and chemical processing facilities, each of which has a critical reliance on safe, clean water for operations.

Mr. Ron Keating, Evoqua’s Chief Executive Officer stated, “These times are unprecedented. Conventional norms are changing and being challenged across our personal and business lives. We would like to thank our employees and their families who are going above and beyond under these trying circumstances. In particular, we recognize our service technicians and product specialists who are entering COVID-19 hot spots, such as hospitals and laboratories, to ensure mission critical operational uptime. We also express our heartfelt concern for those inflicted with COVID-19, and we salute the courage and empathy shown by healthcare clinicians and caregivers throughout the world. Evoqua is engaged in local market activities to provide comfort and support to those in need, including increasing contributions to local charities."

Mr. Keating continued, "In addition to supporting our employees and communities, we are focused on servicing our customers and maintaining our liquidity and financial stability. Beyond COVID-19, we continue to believe the favorable macro-water trends will remain a critical global driver, and by managing our business and aligning our cost structure in support of our business priorities, we will be well prepared to respond."

Near-term business priorities:

• Protect the health and safety of our employees, customers and supply chain partners
  • Follow recommended CDC and other international, federal, state and local guidelines
• Provide ongoing customer service and support
  • Maximize customers' operating uptime
  • Maintain business continuity for critical service and manufacturing facilities and offices
• Ensure business resiliency, liquidity and financial strength
  • Maintain supply chain integrity
  • Manage for cash and liquidity

Mr. Keating stated, “We are pleased that our Q2 performance is expected to be above the range we communicated in our February first quarter earnings call. Our liquidity is solid, and our order book continued to grow through the end of the second quarter. Looking forward, uneven customer demand is expected across the diverse set of served end markets, with several essential markets currently performing quite well while other market segments may experience challenges. For example, hospital, laboratory and pharmaceutical customers are showing signs of increasing demand, while certain operations of our industrial customers have come under pressure. Due to the evolving nature of COVID-19, it is too early to determine the impact of the pandemic, and as a result we have decided to withdraw our previously communicated full-year fiscal 2020 guidance."