Evoqua Water Technologies (AQUA) 10-Q 31 Jan 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2022	Jan. 26, 2023
Cover [Abstract]
Amendment Flag	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Type	10-Q
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-38272
Entity Registrant Name	EVOQUA WATER TECHNOLOGIES CORP.
Entity Tax Identification Number	46-4132761
Entity Address, Address Line One	210 Sixth Avenue
Entity Address, Postal Zip Code	15222
Entity Address, City or Town	Pittsburgh,
Entity Address, State or Province	PA
City Area Code	724
Local Phone Number	772-0044
Trading Symbol	AQUA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		122,186,155
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Central Index Key	0001604643
Current Fiscal Year End Date	--09-30

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
ASSETS
Current assets	$ 848,320	$ 831,389
Cash and cash equivalents	104,703	134,005
Receivables, net	301,128	305,712
Inventories, net	258,264	229,351
Contract assets	118,466	102,123
Prepaid and other current assets	65,324	59,971
Income tax receivable	435	227
Property, plant, and equipment, net	409,992	405,289
Goodwill	476,213	473,572
Intangible assets, net	307,747	317,733
Deferred income taxes, net of valuation allowance	4,200	5,841
Operating lease right-of-use assets, net	57,624	53,540
Other non‑current assets	103,261	103,499
Total assets	2,207,357	2,190,863
LIABILITIES AND EQUITY
Current liabilities	486,837	483,716
Accounts payable	219,886	213,518
Current portion of debt, net of deferred financing fees and discounts	19,322	17,266
Contract liabilities	77,589	62,439
Product warranties	6,881	6,740
Accrued expenses and other liabilities	156,846	178,272
Income tax payable	6,313	5,481
Non‑current liabilities	990,788	997,054
Long-term debt, net of deferred financing fees and discounts	852,469	863,534
Product warranties	3,346	3,465
Obligation under operating leases	47,399	43,961
Other non‑current liabilities	71,892	69,889
Deferred income taxes	15,682	16,205
Total liabilities	1,477,625	1,480,770
Commitments and Contingent Liabilities (Note 19)
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	(2,837)	(2,837)
Additional paid-in capital	616,354	607,748
Retained earnings	70,284	61,016
Accumulated other comprehensive income, net of tax	44,694	42,931
Total shareholders’ equity	729,732	710,093
Total liabilities and shareholders’ equity	$ 2,207,357	$ 2,190,863

Consolidated Balance Sheets Con

Consolidated Balance Sheets Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Sep. 30, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	123,567,000	123,411,000
Common stock, outstanding (in shares)	121,903,000	121,747,000
Treasury stock (in shares)	1,664,000	1,664,000

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenues [Abstract]
Revenues	$ 435,846	$ 366,268
Cost of Revenue [Abstract]
Cost of product sales and services	(305,537)	(255,760)
Gross profit	130,309	110,508
Operating Expenses [Abstract]
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	1,297	1,657
Other operating expense	(77)	(147)
Operating profit (loss)	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 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
Non-controlling Interest
Operating Expenses [Abstract]
Net income	$ 0	$ 101
Net income attributable to non‑controlling interest	0	101
Revenue from product sales
Revenues [Abstract]
Revenues	260,391	212,568
Cost of Revenue [Abstract]
Cost of product sales and services	(185,040)	(153,795)
Revenue from service
Revenues [Abstract]
Revenues	175,455	153,700
Cost of Revenue [Abstract]
Cost of product sales and services	$ (120,497)	$ (101,965)

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Other comprehensive income (loss)
Net income	$ 9,268	$ 6,088
Foreign currency translation adjustments	3,562	1,609
Unrealized derivative (loss) gain on cash flow hedges, net of tax	(1,786)	6,581
Change in pension liability, net of tax	(13)	169
Total other comprehensive income	1,763	8,359
Less: Comprehensive income attributable to non‑controlling interest	0	(101)
Comprehensive income attributable to Evoqua Water Technologies Corp.	$ 11,031	$ 14,346

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income	Non-controlling Interest
Common stock issued at the beginning of the period (shares) at Sep. 30, 2021		122,173,000
Stockholders' equity, balance at the beginning of the period at Sep. 30, 2021	$ 582,219	$ 1,223	$ (2,837)	$ 582,052	$ (11,182)	$ 11,415	$ 1,548
Treasury stock, balance at the beginning of the period (in shares) at Sep. 30, 2021			1,664,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity based compensation expense	5,203			5,203
Issuance of common stock (in shares)		199,000	0
Issuance of common stock, net	824	$ 2		822
Dividends paid to non-controlling interest	(100)						(100)
Net income	6,088				5,987		101
Other comprehensive income	8,359					8,359
Common stock issued at the end of the period (shares) at Dec. 31, 2021		122,372,000
Stockholders' equity, balance at the end of the period at Dec. 31, 2021	$ 602,593	$ 1,225	$ (2,837)	588,077	(5,195)	19,774	1,549
Treasury stock, balance at the end of the period (in shares) at Dec. 31, 2021			1,664,000
Common stock issued at the beginning of the period (shares) at Sep. 30, 2022	123,411,000	123,411,000
Stockholders' equity, balance at the beginning of the period at Sep. 30, 2022	$ 710,093	$ 1,235	$ (2,837)	607,748	61,016	42,931	0
Treasury stock, balance at the beginning of the period (in shares) at Sep. 30, 2022	1,664,000		1,664,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity based compensation expense	$ 6,196			6,196
Issuance of common stock (in shares)		156,000	0
Issuance of common stock, net	2,412	$ 2		2,410
Net income	9,268				9,268		0
Other comprehensive income	$ 1,763					1,763
Common stock issued at the end of the period (shares) at Dec. 31, 2022	123,567,000	123,567,000
Stockholders' equity, balance at the end of the period at Dec. 31, 2022	$ 729,732	$ 1,237	$ (2,837)	$ 616,354	$ 70,284	$ 44,694	$ 0
Treasury stock, balance at the end of the period (in shares) at Dec. 31, 2022	1,664,000		1,664,000

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Changes in Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating activities
Net income	$ 9,268	$ 6,088
Reconciliation of net income to cash flows (used in) provided by operating activities:
Depreciation and amortization	33,248	28,640
Amortization of deferred financing fees	476	467
Deferred income taxes	1,852	251
Share-based compensation	6,196	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
Accounts receivable	6,839	41,309
Inventories	(26,082)	(16,021)
Contract assets	(15,790)	(12,189)
Prepaids and other current assets	(2,326)	(3,797)
Accounts payable	5,290	11,241
Accrued expenses and other liabilities	(24,916)	(16,953)
Contract liabilities	14,711	(2,887)
Income taxes	416	(338)
Other non‑current assets and liabilities	(1,435)	(6,132)
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 equipment	1,674	1,370
Acquisitions	1,716	0
Net cash used in investing activities	(20,472)	(14,834)
Financing activities
Borrowing of debt	23,700	5,949
Repayment of debt	(33,185)	(19,378)
Repayment of finance lease obligation	(3,905)	(3,174)
Proceeds from issuance of common stock	2,868	2,085
Taxes paid related to net share settlements of share-based compensation awards	(390)	(1,261)
Distribution to non‑controlling interest	0	(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
Beginning of period	134,005	146,244
End of period	104,703	152,525
Supplemental disclosure of cash flow information
Cash paid for taxes	1,989	1,654
Cash paid for interest	8,990	5,706
Non‑cash investing and financing activities
Finance lease transactions	3,311	2,700
Operating lease transactions	$ 6,863	$ 1,152

Description of the Company and

Description of the Company and Basis of Presentation	3 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of the Company and Basis of Presentation	Description of the Company and Basis of Presentation Background Evoqua Water Technologies Corp. (referred to herein as the “Company” or “EWT”) is a holding company and does not conduct any business operations of its own. The Company was incorporated on October 7, 2013. On November 6, 2017, the Company completed its initial public offering (“IPO”). The Business EWT provides a wide range of product brands and advanced water and wastewater treatment systems and technologies, as well as mobile and emergency water supply solutions and service contract options through its branch network. Headquartered in Pittsburgh, Pennsylvania, EWT is a multinational corporation with operations in the United States (“U.S.”), Canada, the United Kingdom (“UK”), the Netherlands, Germany, Australia, the People’s Republic of China, Singapore and India. The Company is organizationally structured into two reportable operating segments for the purpose of making operational decisions and assessing financial performance: (i) Integrated Solutions and Services and (ii) Applied Product Technologies. Basis of Presentation The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). All intercompany transactions have been eliminated. Unless otherwise specified, all dollar and share amounts in these notes are referred to in thousands. The interim Unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such SEC rules. We believe that the disclosures made are adequate to make the information presented not misleading. In our opinion, all adjustments considered necessary for a fair presentation of the financial statements have been included, and all adjustments are of a normal and recurring nature. We consistently applied the accounting policies described 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 (“2022 Annual Report”), in preparing these Unaudited Consolidated Financial Statements, with the exception of accounting standard updates described in Note 2, “Recent Accounting Pronouncements.” These Unaudited Consolidated Financial Statements should be read in conjunction with the audited financial statements and the notes included in our 2022 Annual Report. Certain prior period amounts have been reclassified to conform to the current period presentation.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Not Yet Adopted In September 2022, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, which enhances transparency about an entity’s use of supplier finance programs by requiring quarterly and annual disclosures about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts annually, and a description of where in the financial statements outstanding amounts are presented. The guidance is effective for fiscal years beginning after December 15, 2022. The Company is currently assessing the impact of adoption on the Company’s Unaudited Consolidated Financial Statements and related disclosures. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which amends Accounting Standards Codification (“ASC”) 805 to require an acquirer to, at the date of acquisition, recognize and measure contract assets and contract liabilities acquired in accordance with ASU 2014-9, Revenue from Contracts with Customers (Topic 606) (“Topic 606”) , as if the entity had originated the contracts, rather than adjust them to fair value at the acquisition date. The guidance is effective for fiscal years beginning after December 15, 2022 and is to be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company is currently assessing the impact of adoption on the Company’s Unaudited Consolidated Financial Statements and related disclosures.

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Variable Interest Entities	Variable Interest Entities Treated Water Outsourcing (“TWO”) was a joint venture between the Company and Nalco Water, an Ecolab company (“Nalco”), in which the Company held a 50% partnership interest. The Company acquired the remaining partnership interest in TWO from Nalco on April 1, 2022. Prior to acquisition, the Company was obligated to absorb all risk of loss up to 100% of the joint venture partner’s equity. As such, the Company fully consolidated TWO as a variable interest entity (“VIE”) under ASC Topic No. 810, Consolidation . The following provides TWO’s summarized financial information for the three months ended December 31, 2021. As a result of the acquisition of the remaining partnership interest in TWO on April 1, 2022, there is no summarized financial information for the three months ended December 31, 2022. Three Months Ended Total revenue $ 845 Total operating expenses (737) Income from operations $ 108 On October 1, 2019, the Company acquired a 60% investment position in San Diego-based Frontier Water Systems, LLC (“Frontier”). The Frontier acquisition was a VIE because it had insufficient equity to finance its activities due to key assets being assigned to the Company upon acquisition. The Company was the primary beneficiary of Frontier because the Company had the power to direct the activities that most significantly affect Frontier’s economic performance. In addition, the Company entered into an agreement to purchase the remaining 40% interest in Frontier on or prior to March 30, 2024. This agreement (a) gave holders of the remaining 40% interest in Frontier (the “Minority Owners”) the right to sell to Evoqua up to approximately 10% of the outstanding equity in Frontier at a predetermined price, which right was exercisable by the Minority Owners between January 1, 2021 and February 28, 2021 (the “Option”), and (b) obligated the Company to purchase and the Minority Owners to sell all of the Minority Owners’ remaining interest in Frontier at the fair market value at the time of sale on or prior to March 30, 2024 (the “Purchase Right”). The Company acquired an additional 8% equity interest in Frontier in April 2021. O n April 1, 2022, the Company purchased the remaining 32% outstanding equity in Frontier. The following provides Frontier’s summarized financial information for the three months ended December 31, 2021. As a result of the acquisition of the remaining equity interest in Frontier on April 1, 2022, there is no summarized financial information for the three months ended December 31, 2022. Three Months Ended Total revenue $ 6,949 Total operating expenses (5,986) Income from operations $ 963

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and DivestituresAcquisitions support the Company’s strategy of delivering a broad solutions portfolio with robust technology across multiple geographies and end markets. The Company continues to evaluate potential strategic acquisitions of businesses, assets and product lines and believes that capex-like, tuck-in acquisitions present a key opportunity within its overall growth strategy.

Revenue

Revenue	3 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Performance Obligations The Company elects to apply the practical expedient to exclude from this disclosure revenue related to performance obligations if the product has an alternative use and the Company does not have an enforceable right to payment for the performance completed to date, including a normal profit margin, in the event of termination for convenience. The Company maintains a backlog of confirmed orders, which totaled approximately $398,960 at December 31, 2022. This backlog represents the aggregate amount of the transaction price allocated to performance obligations that were unsatisfied or partially unsatisfied as of the end of the reporting period. The Company estimates that the majority of these performance obligations will be satisfied within the next twelve Disaggregation of Revenue In accordance with Topic 606, the Company disaggregates revenue from contracts with customers into source of revenue, reportable operating segment, and geographical regions. The Company determined that disaggregating revenue into these categories meets the disclosure objective in Topic 606, which is to depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. Information regarding the source of revenue: Three Months Ended 2022 2021 Revenue from contracts with customers recognized under Topic 606 $ 391,431 $ 317,771 Other (1) 44,415 48,497 Total $ 435,846 $ 366,268 (1) Other revenue relates to revenue recognized pursuant to ASU 2016-02, Leases (Topic 842) , primarily attributable to long term rentals. Information regarding revenue disaggregated by source of revenue and segment is as follows: Three Months Ended 2022 2021 Integrated Solutions and Services Capital $ 77,646 $ 67,102 Aftermarket 57,440 29,298 Service 170,340 148,646 Total $ 305,426 $ 245,046 Applied Product Technologies Capital $ 88,065 $ 83,884 Aftermarket 37,240 32,284 Service 5,115 5,054 Total $ 130,420 $ 121,222 Total Revenue Capital $ 165,711 $ 150,986 Aftermarket 94,680 61,582 Service 175,455 153,700 Total $ 435,846 $ 366,268 Information regarding revenue disaggregated by geographic area is as follows: Three Months Ended 2022 2021 United States $ 361,222 $ 294,708 Asia 34,521 30,905 Europe 24,487 25,629 Canada 13,174 12,661 Australia 2,442 2,365 Total $ 435,846 $ 366,268 Contract Balances The Company performs its obligations under a contract with a customer by transferring products and/or services in exchange for consideration from the customer. The Company receives payments from customers based on a billing schedule as established in its contracts. Contract assets relate to costs incurred to perform in advance of scheduled billings. Contract liabilities relate to payments received in advance of performance under the contracts. Change in contract assets and liabilities are due to the Company’s performance under the contract. The tables below provide a roll-forward of contract assets and contract liabilities balances for the periods presented: Three Months Ended Contract assets (a) 2022 2021 Balance at beginning of period $ 102,123 $ 72,746 Recognized in current period 91,519 120,387 Reclassified to accounts receivable (74,004) (108,684) Foreign currency (1,172) 533 Balance at end of period $ 118,466 $ 84,982 (a) Excludes receivable balances which are disclosed on the Consolidated Balance Sheets. Three Months Ended Contract Liabilities 2022 2021 Balance at beginning of period $ 62,439 $ 55,883 Recognized in current period 82,819 100,017 Amounts in beginning balance reclassified to revenue (49,264) (43,266) Current period amounts reclassified to revenue (20,530) (59,653) Foreign currency 2,125 41 Balance at end of period $ 77,589 $ 53,022

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement	Fair Value Measurements As of December 31, 2022 and September 30, 2022, the fair values of cash and cash equivalents, accounts receivable, and accounts payable approximated carrying values due to the short maturity of these items. The Company measures the fair value of pension plan assets and liabilities, deferred compensation plan assets and liabilities on a recurring basis pursuant to ASC Topic No. 820, Fair Value Measurement . ASC Topic No. 820 establishes a three‑tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1: Quoted prices for identical instruments in active markets. Level 2: Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model‑derived valuations whose inputs are observable or whose significant value driver is observable. Level 3: Unobservable inputs in which little or no market data is available, therefore requiring an entity to develop its own assumptions. The following table presents the Company’s financial assets and liabilities at fair value. The fair values related to the pension plan assets are determined using net asset value (“NAV”) as a practical expedient, or by information categorized in the fair value hierarchy level based on the inputs used to determine fair value. The reported carrying amounts of deferred compensation plan assets and liabilities and debt approximate their fair values. The Company uses interest rates and other relevant information generated by market transactions involving similar instruments to measure the fair value of these assets and liabilities, therefore all are classified as Level 2 within the valuation hierarchy. Net Asset Value Quoted Market Significant Other Significant As of December 31, 2022 Assets: Pension plan Cash $ — $ 950 $ — $ — Global Multi-Asset Fund 12,764 — — — Government Securities 1,639 — — — Liability Driven Investment 1,624 — — — Guernsey Unit Trust 2,216 — — — Global Absolute Return 1,423 — — — Deferred compensation plan assets Cash — 1,017 — — Mutual Funds — 14,376 — — Earn-out assets related to acquisitions — — — 12,300 Interest rate swaps — — 47,402 — Foreign currency forward contracts — — 156 — Commodity swaps — — 1 — Liabilities: Pension plan — — (28,971) — Deferred compensation plan liabilities — — (21,594) — Total return swaps—deferred compensation — — (153) — Long‑term debt — — (877,898) — Foreign currency forward contracts — — (414) — Net Asset Value Quoted Market Significant Other Significant As of September 30, 2022 Assets: Pension plan Cash $ — $ 40 $ — $ — Global Multi-Asset Fund 11,632 — — — Government Securities 3,343 — — — Liability Driven Investment 928 — — — Guernsey Unit Trust 2,048 — — — Global Absolute Return 1,299 — — — Deferred compensation plan assets Cash — 902 — — Mutual Funds — 12,330 — — Earn-out assets related to acquisitions — — — 11,597 Interest rate swaps — — 49,952 — Foreign currency forward contracts — — 507 — Liabilities: Pension plan — — (26,654) — Deferred compensation plan liabilities — — (20,081) — Total return swaps—deferred compensation — — (632) — Long‑term debt — — (884,517) — Foreign currency forward contracts — — (872) — Commodity swaps — — (7) — The pension plan assets and liabilities and deferred compensation plan assets and liabilities are included in Other non‑current assets and Other non‑current liabilities at December 31, 2022 and September 30, 2022. The unrealized loss on mutual funds was $2,226 at December 31, 2022. The Company records contingent consideration arrangements at fair value on a recurring basis, and the associated balances presented as of December 31, 2022 and September 30, 2022 are earn-outs related to acquisitions. The fair value of earn-outs related to acquisitions is based on significant unobservable inputs including the achievement of certain performance metrics. Significant changes in these inputs would result in corresponding increases or decreases in the fair value of the earn-out each period until the related contingency has been resolved. Changes in the fair value of the contingent consideration obligations and assets can result from adjustments in the probability of achieving future development steps, sales targets and profitability and are recorded in General and administrative expenses in the Unaudited Consolidated Statements of Operations. As a result of the Mar Cor Business acquisition on January 3, 2022, the Company recorded an Earn Out asset for $7,824 which represented the fair value of amounts expected to be received back from escrow based on the forecasted achievement of certain sales performance goals at the acquisition date. During the year ended September 30, 2022, the Company recorded an increase in the fair value of the Earn Out asset of $3,773 based on updated forecast information. During the three months ended December 31, 2022, the Company recorded an increase in the fair value of the Earn Out asset of $703 based on results of sales performance goals. As of December 31, 2022 and September 30, 2022, the Earn Out asset related to the Mar Cor Business acquisition totaled $12,300 and $11,597, respectively, and is included in Prepaid and other current assets on the Consolidated Balance Sheets.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	Accounts Receivable Accounts receivable are summarized as follows: December 31, September 30, Accounts receivable $ 308,024 $ 312,600 Allowance for credit losses (6,896) (6,888) Receivables, net $ 301,128 $ 305,712 The movement in the allowance for credit losses was as follows for the three months ended December 31, 2022: Balance at September 30, 2022 $ (6,888) Charged to costs and expenses (266) Write-offs 298 Foreign currency and other (40) Balance at December 31, 2022 $ (6,896)

Inventories

Inventories	3 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories The major classes of Inventories, net are as follows: December 31, September 30, Raw materials and supplies $ 140,368 $ 120,532 Work in progress 38,589 36,499 Finished goods and products held for resale 87,361 80,811 Costs of unbilled projects 3,342 2,309 Reserves for excess and obsolete (11,396) (10,800) Inventories, net $ 258,264 $ 229,351

Property, Plant, and Equipment

Property, Plant, and Equipment	3 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant, and Equipment Property, plant, and equipment consists of the following: December 31, September 30, Machinery and equipment $ 397,656 $ 401,334 Rental equipment 274,408 267,345 Land and buildings 84,100 82,985 Construction in process 83,002 72,184 839,166 823,848 Less: accumulated depreciation (429,174) (418,559) Property, plant, and equipment, net $ 409,992 $ 405,289 Depreciation expense and maintenance and repairs expense for the three months ended December 31, 2022 and 2021 were as follows: Three Months Ended 2022 2021 Depreciation expense $ 21,039 $ 19,320 Maintenance and repair expense 8,230 6,119

Goodwill

Goodwill	3 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill Changes in the carrying amount of goodwill are as follows: Integrated Solutions and Services Applied Product Technologies Total Balance at September 30, 2022 $ 306,935 $ 166,637 $ 473,572 Measurement period adjustment (1,754) — (1,754) Foreign currency translation 582 3,813 4,395 Balance at December 31, 2022 $ 305,763 $ 170,450 $ 476,213 As of December 31, 2022 and September 30, 2022, $248,779 and $250,636, respectively, of goodwill was deductible for tax purposes.

Debt

Debt	12 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Long‑term debt, including accrued interest, consists of the following: December 31, September 30, 2021 Term Loan, due April 1, 2028 (1) $ 467,900 $ 469,063 2021 Revolving Credit Facility, due April 1, 2026 (2) 136,502 151,254 Securitization Facility, due April 1, 2024 (3) 150,282 150,201 Equipment Financing, due September 30, 2023 to September 30, 2032, interest rates ranging from 3.59% to 8.07% 126,503 120,155 Total debt 881,187 890,673 Less unamortized deferred financing fees (9,396) (9,873) Total net debt 871,791 880,800 Less current portion (19,322) (17,266) Total long‑term debt $ 852,469 $ 863,534 (1) The interest rate on the 2021 Term Loan was 6.38% as of December 31, 2022, comprised of 4.13% LIBOR plus a 2.25% spread. Includes accrued interest of $25 and $0 at December 31, 2022 and September 30, 2022, respectively. (2) The 2021 Revolving Credit Facility includes $136,000 outstanding with an interest rate of 6.33% as of December 31, 2022, comprised of 4.13% LIBOR plus a 2.20% spread. Includes accrued interest of $502 and $254, at December 31, 2022 and September 30, 2022, respectively. (3) The interest rate on the Securitization Facility was 5.64% as of December 31, 2022, comprised of 4.39% LIBOR plus a 1.25% spread. Includes accrued interest of $282 and $201 at December 31, 2022 and September 30, 2022, respectively. 2021 Credit Agreement On April 1, 2021, EWT Holdings III Corp. (“EWT III”), a subsidiary of the Company, entered into a Credit Agreement (the “2021 Credit Agreement”) among EWT III, as borrower, EWT Holdings II Corp. (“EWT II”), as parent guarantor, the lenders from time to time party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and ING Capital, LLC, as sustainability coordinator. The 2021 Credit Agreement provides for a multi-currency senior secured revolving credit facility in an aggregate principal amount not to exceed the U.S. dollar equivalent of $350,000 (the “2021 Revolving Credit Facility”) and a discounted senior secured term loan (the “2021 Term Loan”) in the amount of $475,000 (together with the 2021 Revolving Credit Facility, the “Senior Facilities”). The 2021 Credit Agreement also provides for a letter of credit sub-facility not to exceed $60,000. The 2021 Credit Agreement contains customary representations, warranties, affirmative covenants, and negative covenants, including, among other things, a springing maximum first lien leverage ratio of 5.55 to 1.00. The Company did not exceed this ratio during the three months ended December 31, 2022, does not anticipate exceeding this ratio during the year ending September 30, 2023, and therefore does not anticipate any additional repayments during the year ending September 30, 2023. The following table summarizes the amount of the Company’s outstanding borrowings and outstanding letters of credit under the 2021 Revolving Credit Facility as of December 31, 2022 and September 30, 2022. December 31, September 30, Borrowing availability $ 350,000 $ 350,000 Outstanding borrowings 136,000 151,000 Outstanding letters of credit 8,760 9,317 Unused amounts $ 205,240 $ 189,683 Receivables Securitization Program On April 1, 2021, Evoqua Finance LLC (“Evoqua Finance”), an indirect wholly-owned subsidiary of the Company, entered into an accounts receivable securitization program (the “Receivables Securitization Program”) consisting of, among other agreements, (i) a Receivables Financing Agreement (the “Receivables Financing Agreement”) among Evoqua Finance, as the borrower, the lenders from time to time party thereto (the “Receivables Financing Lenders”), PNC Bank, National Association (“PNC Bank”), as administrative agent, EWT LLC, as initial servicer, and PNC Capital Markets LLC (“PNC Markets”), as structuring agent, pursuant to which the lenders have made available to Evoqua Finance a receivables finance facility (the “Securitization Facility”) in an amount up to $150,000 and (ii) a Sale and Contribution Agreement (the “Sale Agreement”) among Evoqua Finance, as purchaser, EWT LLC, as initial servicer and as an originator, and Neptune Benson, Inc., an indirectly wholly-owned subsidiary of the Company, as an originator (together with EWT LLC, the “Originators”). The Receivables Securitization Program contains certain customary representations, warranties, affirmative covenants, and negative covenants, subject to certain cure periods in some cases, including the eligibility of the receivables being sold by the Originators and securing the loans made by the Receivables Financing Lenders, as well as customary reserve requirements, events of default, termination events, and servicer defaults. The Company was in compliance with all covenants during the three months ended December 31, 2022, does not anticipate becoming noncompliant during the year ending September 30, 2023, and therefore, subject to limitations arising from collateral availability, does not anticipate any additional repayments during the year ending September 30, 2023. Equipment Financings During the three months ended December 31, 2022, the Company completed the following equipment financings: Date Entered Due Interest Rate as of December 31, 2022 Principal Amount December 30, 2022 September 30, 2032 (1) 5.30 % $ 1,452 December 19, 2022 May 31, 2029 (2) 5.03 % 2,041 October 31, 2022 June 30, 2029 6.33 % 6,208 $ 9,701 (1) Represents an advance received from the lender on a multiple draw term loan in which the Company is making interest only payments through September 30, 2023 based on an interest rate of 5.30% including a 3.05% Bloomberg Short-Term Bank Yield Index plus a 2.25% spread as of December 31, 2022. (2) Represents an advance received from the lender on a multiple draw term loan in which the Company is making interest only payments through December 30, 2022 based on a 2.28% Secured Overnight Financing Rate plus a 2.75% spread. The Company has secured financing agreements that require providing a security interest in specified equipment and, in some cases, the underlying contract and related receivables. As of December 31, 2022 and September 30, 2022, the gross and net amounts of those assets are included on the Consolidated Balance Sheets as follows: December 31, September 30, Gross Net Gross Net Property, plant, and equipment, net Machinery and equipment $ 79,965 $ 55,996 $ 86,294 $ 62,459 Construction in process 16,531 16,531 14,201 14,201 Receivables, net 793 793 108 108 Prepaid and other current assets 3,147 3,147 3,276 3,276 Other non‑current assets 54,057 53,718 51,877 51,550 $ 154,493 $ 130,185 $ 155,756 $ 131,594 Deferred Financing Fees and Discounts Deferred financing fees and discounts related to the Company’s long-term debt were included as a contra liability to debt on the Consolidated Balance Sheets as follows: December 31, September 30, Current portion of deferred financing fees and discounts (1) $ (1,906) $ (1,899) Long-term portion of deferred financing fees and discounts (2) (7,490) (7,974) Total deferred financing fees and discounts $ (9,396) $ (9,873) (1) Included in Current portion of debt, net of deferred financing fees and discounts on the Consolidated Balance Sheets. (2) Included in Long-term debt, net of deferred financing fees and discounts on the Consolidated Balance Sheets. Amortization of deferred financing fees and discounts included in interest expense was $476 and $467 for the three months ended December 31, 2022 and 2021. Repayment Schedule Aggregate maturities of all long‑term debt, including current portion of long‑term debt and excluding finance lease obligations as of December 31, 2022, are presented below: Fiscal Year Remainder of 2023 $ 16,245 2024 169,620 2025 21,224 2026 160,581 2027 22,304 Thereafter 491,213 Total $ 881,187

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Financial Instruments Interest Rate Risk Management The Company is subject to market risk exposure arising from changes in interest rates on the senior secured credit facilities as well as variable rate equipment financings, which bear interest at rates that are indexed against LIBOR. The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to mitigate its exposure to rising interest rates. As of December 31, 2022, the notional amount of the Company’s interest rate swaps was $540,000. Foreign Currency Risk Management The Company’s functional currency is the U.S. dollar. By operating internationally, the Company is subject to foreign currency translation risk associated with converting the foreign operations’ financial statements into U.S. dollars transactions denominated in currencies other than the U.S. dollar (“foreign currencies”). The Company is also subject to currency risk from transactions denominated in foreign currencies. To mitigate cross-currency transaction risk, the Company analyzes significant exposures where it has receipts or payments in a currency other than the functional currency of its operations, and from time to time may strategically enter into short-term foreign currency forward contracts to lock in some or all of the cash flows associated with these transactions. The Company uses foreign currency derivative contracts in order to manage the effect of exchange fluctuations on forecasted sales and purchases that are denominated in foreign currencies. To mitigate the impact of foreign exchange rate risk, the Company entered into a series of forward contracts designated as cash flow hedges. As of December 31, 2022, the notional amount of the forward contracts was $16,924. Equity Price Risk Management The Company is exposed to variability in compensation charges related to certain deferred compensation obligations to employees. Equity price movements affect the compensation expense as certain investments made by the Company’s employees in the deferred compensation plan are revalued. Although not designated as accounting hedges, the Company utilizes derivatives such as total return swaps to economically hedge a portion of this exposure and offset the related compensation expense. As of December 31, 2022, the notional amount of the total return swaps was $4,702. Credit Risk Management The counterparties to the Company’s derivative contracts are highly-rated financial institutions. The Company regularly reviews the creditworthiness of its financial counterparties and fully expects the counterparties to perform under their respective agreements. The Company is not subject to any obligations to post collateral under derivative instrument contracts. The Company records all derivative instruments on a gross basis in the Consolidated Balance Sheets. Accordingly, there are no offsetting amounts that net assets against liabilities. Derivatives Designated as Cash Flow Hedges The following represents the fair value recorded for derivatives designated as cash flow hedges for the periods presented: Asset Derivatives Balance Sheet Location December 31, September 30, Interest rate swaps Prepaid and other current assets $ 22,277 $ 19,186 Foreign currency forward contracts Prepaid and other current assets 156 467 Commodity swaps Prepaid and other current assets 1 — Interest rate swaps Other non‑current assets 25,125 30,766 Liability Derivatives Balance Sheet Location December 31, September 30, Foreign currency forward contracts Accrued expenses and other current liabilities 385 872 Commodity swaps Accrued expenses and other current liabilities — 7 The following represents the amount of gain (loss) recognized in Accumulated other comprehensive income (loss) (“AOCI”) (net of tax) during the periods presented: Three Months Ended 2022 2021 Interest rate swaps $ 2,099 $ 5,871 Foreign currency forward contracts (389) (18) Commodity swaps 8 20 $ 1,718 $ 5,873 The following represents the amount of gain (loss) reclassified from AOCI into earnings during the periods presented: Three Months Ended Location of (Loss) Gain 2022 2021 Cost of product sales and services $ (106) $ (85) General and administrative expense (402) (7) Selling and marketing expense — 1 Interest expense 4,012 (617) $ 3,504 $ (708) Based on the fair value amounts of the Company’s cash flow hedges at December 31, 2022, the Company expects that approximately $196 of pre-tax net losses will be reclassified from AOCI into earnings during the next twelve months. The amount ultimately realized, however, will differ as exchange rates vary and the underlying contracts settle. Derivatives Not Designated as Hedging Instruments The following represents the fair value recorded for derivatives not designated as cash flow hedges for the periods presented: Asset Derivatives Balance Sheet Location December 31, September 30, Foreign currency forward contracts Prepaid and other current assets $ — $ 40 Liability Derivatives Balance Sheet Location December 31, September 30, Total return swaps—deferred compensation Accrued expenses and other current liabilities $ 153 $ 632 Foreign currency forward contracts Accrued expenses and other current liabilities 29 — The following represents the amount of gain recognized in earnings for derivatives not designated as hedges during the periods presented: Three Months Ended Location of Gain 2022 2021 General and administrative expense $ 375 $ 311 $ 375 $ 311

Product Warranties

Product Warranties	3 Months Ended
	Dec. 31, 2022
Guarantees and Product Warranties [Abstract]
Product warranties	Product Warranties A reconciliation of the activity related to the accrued warranty, including both the current and long‑term portions, is as follows: Current Product Warranties Non-Current Product Warranties Three Months Ended Three Months Ended 2022 2021 2022 2021 Balance at beginning of the period $ 6,740 $ 8,138 $ 3,465 $ 2,966 Warranty provision for sales 758 1,188 206 201 Settlement of warranty claims (645) (1,262) (415) (219) Foreign currency translation and other 28 (171) 90 (46) Balance at end of the period $ 6,881 $ 7,893 $ 3,346 $ 2,902

Restructuring and Related Charg

Restructuring and Related Charges	3 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and related charges	Restructuring and Related Charges To better align its resources with its growth strategies and reduce its cost structure, the Company commits to various restructuring plans as necessary. The Company has undertaken various restructuring initiatives, including activities to reduce the cost structure and rationalize location footprint, particularly following the sale of the Memcor product line, transitioning from a three-segment structure to a two-segment operating model designed to better serve the needs of customers worldwide, and various initiatives within the Integrated Solutions and Services segment to drive efficiency and effectiveness in certain divisions. The Company currently expects to incur in future periods approximately $3,700 to $4,700 of costs related to restructuring programs initiated in prior periods. The table below sets forth the amounts accrued for the restructuring components and related activity: Three Months Ended 2022 2021 Balance at beginning of the period $ 658 $ 304 Restructuring charges following the sale of the Memcor product line 19 207 Restructuring charges related to two-segment realignment — 164 Restructuring charges related to other initiatives 1,560 766 Release of prior reserves (26) (21) Cash payments (1,050) (1,138) Other adjustments 1 — Balance at end of the period $ 1,162 $ 282 The balances for accrued restructuring liabilities at December 31, 2022 and September 30, 2022, are recorded in Accrued expenses and other liabilities on the Consolidated Balance Sheets. Restructuring charges primarily represent severance charges and other employee costs, fixed asset write-offs, and certain relocation expenses. The Company expects to pay the remaining amounts accrued as of December 31, 2022 during the remainder of fiscal 2023. The table below sets forth the location of amounts recorded above on the Unaudited Consolidated Statements of Operations: Three Months Ended 2022 2021 Cost of product sales and services $ 739 $ 222 General and administrative expense 668 894 Sales and marketing expense 146 — $ 1,553 $ 1,116

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Employee benefit plans	Employee Benefit Plans The Company maintains multiple employee benefit plans. Certain of the Company’s employees in the UK were participants in a Siemens defined benefit plan established for employees of a UK-based operation acquired by Siemens in 2004. The plan was frozen with respect to future service credits for active employees, however the benefit formula recognized future compensation increases. The Company agreed to establish a replacement defined benefit plan, with the assets of the Siemens scheme transferring to the new scheme on April 1, 2015. The Company’s employees in Germany also participate in a defined benefit plan. Assets equaling the plan’s accumulated benefit obligation were transferred to a German defined benefit plan sponsored by the Company upon the acquisition of EWT from Siemens. The German entity also sponsors a defined benefit plan for a small group of employees located in France. The components of net periodic benefit cost for the plans were as follows: Three Months Ended 2022 2021 Service cost $ 137 $ 232 Interest cost 196 108 Expected return on plan assets (108) (132) Amortization of actuarial (gains) losses (13) 169 Pension expense for defined benefit plans $ 212 $ 377 The components of pension expense, other than the service cost component which is included in General and administrative expense, are included in the line item Other operating expense in the Unaudited Consolidated Statements of Operations.

Income Taxes

Income Taxes	3 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesYear-to-date income tax expense or benefit is the product of the most current projected annual effective tax rate (“PAETR”) and the actual year-to-date pretax income (loss) adjusted for any discrete tax items. The income tax expense or benefit for a particular quarter, except for the first quarter, is the difference between the year-to-date calculation of income tax expense or benefit and the year-to-date calculation for the prior quarter. Items unrelated to current period ordinary income or (loss) are recognized entirely in the period identified as a discrete item of tax. Annual Effective Tax Rate The PAETR, which excludes the impact of discrete items, was 31.8% and 23.1% as of the three months ended December 31, 2022 and 2021, respectively. For the three months ended December 31, 2022, the PAETR was higher than the U.S. federal statutory rate of 21.0% primarily due to the mix of earnings between countries, most of which have higher statutory rates than the U.S., state income tax expense, projected Global Intangible Low Tax Income inclusion, and non-deductible expenses primarily incurred in the U.S. The PAETR at December 31, 2021 was favorably impacted by maintaining a valuation allowance on U.S. deferred tax assets. On September 30, 2022, the valuation allowance on U.S. deferred tax assets was reversed. As a result, the December 31, 2022 PAETR is higher than the PAETR at December 31, 2021. Current and Prior Period Tax Expense For the three months ended December 31, 2022, the Company recognized income tax expense of $3,890 on pretax income of $13,158. The rate of 29.6% differed from the U.S. statutory rate of 21.0% as the mix of earnings between countries, most of which have higher statutory tax rates than the U.S., state income tax expense, projected Global Intangible Low Tax Income inclusion, and non-deductible expenses primarily incurred in the U.S. For the three months ended December 31, 2021, the Company recognized income tax expense of $1,621 on pretax income of $7,709. The rate of 21.0% was in line with the U.S. statutory rate of 21.0% as the mix of earnings between countries, most of which have higher statutory tax rates than the U.S., was mostly offset by the impact of maintaining a U.S. valuation allowance provided on U.S. deferred tax assets. At December 31, 2022 and 2021, the Company had gross unrecognized tax benefits of $1,614 and $1,628 respectively.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share Based Compensation	Share-Based Compensation The Company designs equity compensation plans to attract and retain employees while also aligning employees’ interests with the interests of the Company’s shareholders. In addition, members of the Company’s Board of Directors (the “Board”) participate in equity compensation plans in connection with their service on the Board. The Company established the Evoqua Water Technologies Corp. Stock Option Plan (the “Stock Option Plan”) on March 6, 2014 . The plan allows certain management employees and the Board to purchase shares in the Company. Under the Stock Option Plan, the number of shares available for award was 11,083. As of December 31, 2022, there were approximately 2,177 shares available for future grants, however, the Company does not currently intend to make additional grants under the Stock Option Plan. In connection with the IPO, the Board adopted, and the Company’s shareholders approved, the Evoqua Water Technologies Corp. 2017 Equity Incentive Plan (the “Equity Incentive Plan”), under which equity awards may be granted in the form of options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights, dividend equivalent rights, share awards, and performance-based awards (including performance share units and performance-based restricted stock). As of December 31, 2022, there were approximately 3,576 shares available for grants under the Equity Incentive Plan. Outstanding option awards vest ratably at 25% per year, and are exercisable on and after vesting. The options granted have a ten A summary of the stock option activity, including stock appreciation rights, as of December 31, 2022 is presented below: (In thousands, except per share amounts) Options Weighted Average Exercise Price/Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at September 30, 2022 4,265 $ 14.74 5.2 years $ 78,218 Granted 4 42.42 Exercised (71) 14.07 Forfeited — 24.76 Outstanding at December 31, 2022 4,198 $ 14.77 5.0 years $ 104,245 Options exercisable at December 31, 2022 3,154 $ 12.48 4.2 years $ 85,523 Options vested and expected to vest at December 31, 2022 4,194 $ 14.76 5.0 years $ 104,179 The total intrinsic value of options exercised (which is the amount by which the stock price exceeded the exercise price of the options on the date of exercise) during the three months ended December 31, 2022 was $2,014. A summary of the status of the Company's unvested stock options as of and for the three months ended December 31, 2022 is presented below. (In thousands, except per share amounts) Shares Weighted Average Grant Date Fair Value/Share Unvested at beginning of period 1,042 $ 6.82 Granted 4 21.39 Vested (2) 12.63 Forfeited — 8.98 Unvested at end of period 1,044 $ 6.88 The total fair value of options vested during the three months ended December 31, 2022, was $13. During the three months ended December 31, 2022, the Company granted RSUs and performance share units under the Equity Incentive Plan to certain employees of the Company. The final number of performance share units that may be earned is dependent on the Company’s achievement of performance goals related to cumulative revenue growth dollars and average adjusted EBITDA margin over a three-year measurement period ending September 30, 2025. The maximum payout cannot exceed 250% of the applicable target award, which also considers that the final number of performance share units that may be earned is subject to a relative total stockholder return (“TSR”) modifier. The TSR modifier operates by increasing or decreasing the total number of shares earned by up to 25% based on the Company’s TSR relative to the TSR of the U.S. constituents of the S&P Global Water Index. In order to receive shares earned at the end of the performance period, the recipient must remain employed by the Company or its subsidiaries through the end of the three The following is a summary of the RSU activity for the three months ended December 31, 2022. (In thousands, except per share amounts) Shares Weighted Average Grant Date Fair Value/Share Outstanding at September 30, 2022 980 $ 30.18 Granted 290 42.32 Vested (33) 44.60 Forfeited (19) 41.34 Outstanding at December 31, 2022 1,218 $ 32.51 Expected to vest at December 31, 2022 1,181 $ 32.26 The following is a summary of the performance share unit activity for the three months ended December 31, 2022, assuming target award level. (In thousands, except per share amounts) Shares Weighted Average Grant Date Fair Value/Share Unvested at beginning of period 592 $ 23.36 Granted 154 43.46 Forfeited (2) 42.45 Unvested at end of period 744 $ 27.48 Expected to vest 697 $ 27.23 Expense Measurement and Recognition The Company recognizes share-based compensation for all currently outstanding awards and, in future periods, will recognize compensation costs for the unvested portion of awards based on grant date fair values. Total share-based compensation expense was $6,317 and $5,334 during the three months ended December 31, 2022 and 2021, respectively, of which $6,196 and $5,203 was non-cash, respectively. The unrecognized compensation expense related to stock options, RSUs, and performance share units (measured at a target award level) was $3,841, $28,304 and $14,929, respectively at December 31, 2022, and is expected to be recognized over a weighted average period of 1.2 years, 1.8 years and 1.8 years, respectively. The Company received $2,868 from the exercise of stock options during the three months ended December 31, 2022. Employee Stock Purchase Plan Effective October 1, 2018, the Company implemented an employee stock purchase plan (the “ESPP”) which allows employees to purchase shares of the Company’s stock at 85% of the lower of the fair market value on the first or last business day of the applicable six-month offering period. These purchases are offered twice throughout each fiscal year, and are paid by employees through payroll deductions over the respective six month purchase period, at the end of which the stock is transferred to the employees. On December 21, 2018, the Company registered 11,297 shares of common stock, par value $0.01 per share, of which 5,000 are available for future issuance under the ESPP. During the three months ended December 31, 2022 and 2021, the Company incurred compensation expense of $316 and $221, respectively, in salaries and wages with respect to the ESPP, representing the fair value of the discounted price of the shares. These amounts are included in the total share-based compensation expense above. On October 4, 2022, 62 shares were issued under the ESPP.

Concentration of Credit Risk

Concentration of Credit Risk	3 Months Ended
	Dec. 31, 2022
Risks and Uncertainties [Abstract]
Concentration of credit risk	Concentration of Credit RiskThe Company’s cash and cash equivalents and accounts receivable are potentially subject to concentration of credit risk. Cash and cash equivalents are placed with financial institutions that management believes are of high credit quality. Accounts receivable are derived from revenue earned from customers located in the U.S. and internationally and generally do not require collateral. The Company’s trade receivables do not represent a significant concentration of credit risk at December 31, 2022 and September 30, 2022 due to the wide variety of customers and markets into which products are sold and their dispersion across geographic areas. The Company does perform ongoing credit evaluations of its customers and maintains an allowance for potential credit losses on trade receivables. As of and for the three months ended December 31, 2022 and 2021, no customer accounted for more than 10% of net sales or net accounts receivable.The Company operates predominantly in nine countries worldwide and provides a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions, and service contract options through its Integrated Solutions and Services and Applied Product Technologies segments. The Company is a multi-national business but its sales and operations are primarily in the U.S. Sales to unaffiliated customers are transacted with the Company location that maintains the customer relationship.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Guarantees From time to time, the Company is required to provide letters of credit, bank guarantees, or surety bonds in support of its commitments and as part of the terms and conditions on water treatment projects. In addition, the Company is required to provide letters of credit or surety bonds to the Department of Environmental Protection or equivalent in some states in order to maintain its licenses to handle toxic substances at certain of its water treatment facilities. These financial instruments typically expire after all Company commitments have been met, a period typically ranging from twelve months to ten years, or more in some circumstances. The letters of credit, bank guarantees, or surety bonds are arranged through major banks or insurance companies. In the case of surety bonds, the Company generally indemnifies the issuer for all costs incurred if a claim is made against the bond. The following summarizes the Company’s outstanding letters of credit and surety bonds as of December 31, 2022 and September 30, 2022, respectively. December 31, September 30, Revolving credit capacity $ 60,000 $ 60,000 Letters of credit outstanding 8,760 9,317 Remaining revolving credit capacity $ 51,240 $ 50,683 Surety capacity $ 262,135 $ 261,959 Surety issuances 136,862 134,037 Remaining surety available $ 125,273 $ 127,922 The longest maturity date of letters of credit and surety bonds in effect as of December 31, 2022 was March 20, 2030. Litigation From time to time, as a normal incident of the nature and kind of business in which the Company is engaged, various claims or charges are asserted and litigation is commenced against it arising from or related to: product liability; personal injury; trademarks, trade secrets, or other intellectual property; shareholder disputes; labor and employee disputes; commercial or contractual disputes; breach of warranty; or environmental matters. Claimed amounts may be substantial but may not bear any reasonable relationship to the merits of the claim or the extent of any real risk of court or arbitral awards. While it is not feasible to predict the outcome of these matters with certainty, and some lawsuits, claims, or proceedings may be disposed or decided unfavorably, the Company does not expect that any asserted or un-asserted legal claims or proceedings, individually or in the aggregate, will have a material adverse effect on its results of operations, or financial condition.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following: December 31, September 30, Salaries, wages, and other benefits $ 52,373 $ 83,618 Obligation under operating leases 15,527 14,932 Obligation under finance leases 12,917 12,875 Provisions for litigation 12,709 2,375 Deferred revenue 9,760 9,692 Third party commissions 9,615 10,341 Taxes, other than income 5,833 5,594 Insurance liabilities 3,958 3,456 Severance payments 1,162 658 Fair value of liability derivatives 567 1,511 Other 32,425 33,220 $ 156,846 $ 178,272

Business Segments

Business Segments	3 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Business Segments	Business Segments The Company’s reportable operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance. The key factors used to identify these reportable operating segments are the organization and alignment of the Company’s internal operations, the nature of the products and services, and customer type. The Company has two reportable operating segments, Integrated Solutions and Services and Applied Product Technologies. The business segments are described as follows: Integrated Solutions and Services is a group entirely focused on engaging directly with end users through direct sales with a market vertical focus. Integrated Solutions and Services provides tailored services and solutions in collaboration with the customers backed by life‑cycle services including on‑demand water, outsourced water, recycle / reuse, and emergency response service alternatives to improve operational reliability, performance, and environmental compliance. Key offerings within this segment also include equipment systems for industrial needs (influent water, boiler feed water, ultrahigh purity, process water, wastewater treatment, and recycle / reuse), full-scale outsourcing of operations and maintenance, and municipal services, including odor and corrosion control services. Applied Product Technologies is focused on developing product platforms to be sold primarily through third party channels. This segment primarily engages in indirect sales through independent sales representatives, distributors, and aftermarket channels. Applied Product Technologies provides a range of highly differentiated and scalable products and technologies specified by global water treatment designers, original equipment manufacturers (“OEMs”), engineering firms, and integrators. Key offerings within this segment include filtration and separation, disinfection, wastewater solutions, anode and electrochlorination technology, and aquatics technologies and solutions for the global recreational and commercial pool market. Corporate activities include general corporate expenses, elimination of inter-segment transactions, interest income and expense, and certain other charges. Certain other charges may include restructuring and other business transformation charges that have been undertaken to align and reposition the Company to the current reporting structure, acquisition related costs (including transaction costs and certain integration costs), and share-based compensation charges. Since certain administrative and other operating expenses and other items have not been allocated to business segments, the results in the below table are not necessarily a measure computed in accordance with generally accepted accounting principles and may not be comparable to other companies. Reportable operating segment revenue and operating profit for the three months ended December 31, 2022 and 2021 were as follows: Three Months Ended 2022 2021 Total revenue Integrated Solutions and Services $ 311,264 $ 253,576 Applied Product Technologies 150,338 142,497 Total revenue 461,602 396,073 Intersegment revenue Integrated Solutions and Services 5,838 8,530 Applied Product Technologies 19,918 21,275 Total intersegment revenue 25,756 29,805 Revenue to external customers Integrated Solutions and Services 305,426 245,046 Applied Product Technologies 130,420 121,222 Total revenue $ 435,846 $ 366,268 Operating profit (loss) Integrated Solutions and Services $ 42,708 $ 35,300 Applied Product Technologies 21,015 17,827 Corporate (40,491) (38,839) Total operating profit 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

Earnings per Share

Earnings per Share	3 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings per share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings from continuing operations per common share (in thousands, except per share amounts): Three Months Ended 2022 2021 Numerator: Numerator for basic and diluted earnings per common share—Net income attributable to Evoqua Water Technologies Corp. $ 9,268 $ 5,987 Denominator: Denominator for basic net income per common share—weighted average shares 121,848 120,632 Effect of dilutive securities: Share‑based compensation 3,446 4,315 Denominator for diluted net income per common share—adjusted weighted average shares 125,294 124,947 Basic earnings attributable to Evoqua Water Technologies Corp. per common share $ 0.08 $ 0.05 Diluted earnings attributable to Evoqua Water Technologies Corp. per common share $ 0.07 $ 0.05

Subsequent Events

Subsequent Events	3 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsNone.

Description of the Company an_2

Description of the Company and Basis of Presentation (Policies)	3 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). All intercompany transactions have been eliminated. Unless otherwise specified, all dollar and share amounts in these notes are referred to in thousands. The interim Unaudited Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such SEC rules. We believe that the disclosures made are adequate to make the information presented not misleading. In our opinion, all adjustments considered necessary for a fair presentation of the financial statements have been included, and all adjustments are of a normal and recurring nature. We consistently applied the accounting policies described 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 (“2022 Annual Report”), in preparing these Unaudited Consolidated Financial Statements, with the exception of accounting standard updates described in Note 2, “Recent Accounting Pronouncements.” These Unaudited Consolidated Financial Statements should be read in conjunction with the audited financial statements and the notes included in our 2022 Annual Report. Certain prior period amounts have been reclassified to conform to the current period presentation.

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements (Policies)	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Not Yet Adopted In September 2022, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, which enhances transparency about an entity’s use of supplier finance programs by requiring quarterly and annual disclosures about the key terms of the program, outstanding confirmed amounts as of the end of the period, a rollforward of such amounts annually, and a description of where in the financial statements outstanding amounts are presented. The guidance is effective for fiscal years beginning after December 15, 2022. The Company is currently assessing the impact of adoption on the Company’s Unaudited Consolidated Financial Statements and related disclosures. In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , which amends Accounting Standards Codification (“ASC”) 805 to require an acquirer to, at the date of acquisition, recognize and measure contract assets and contract liabilities acquired in accordance with ASU 2014-9, Revenue from Contracts with Customers (Topic 606) (“Topic 606”) , as if the entity had originated the contracts, rather than adjust them to fair value at the acquisition date. The guidance is effective for fiscal years beginning after December 15, 2022 and is to be applied prospectively to business combinations occurring on or after the effective date of the amendments. The Company is currently assessing the impact of adoption on the Company’s Unaudited Consolidated Financial Statements and related disclosures.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Balance Sheet and Summarized Financial Information	The following provides TWO’s summarized financial information for the three months ended December 31, 2021. As a result of the acquisition of the remaining partnership interest in TWO on April 1, 2022, there is no summarized financial information for the three months ended December 31, 2022. Three Months Ended Total revenue $ 845 Total operating expenses (737) Income from operations $ 108 The following provides Frontier’s summarized financial information for the three months ended December 31, 2021. As a result of the acquisition of the remaining equity interest in Frontier on April 1, 2022, there is no summarized financial information for the three months ended December 31, 2022. Three Months Ended Total revenue $ 6,949 Total operating expenses (5,986) Income from operations $ 963

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Preliminary Fair Value of Assets Acquired and Liabilities Assumed	The preliminary fair value of assets acquired and liabilities assumed were as follows: Receivables, net $ 2,501 Inventories, net 1,345 Other current assets 937 Property, plant, and equipment, net 532 Goodwill 7,820 Intangible assets, net 9,815 Other non-current assets 796 Total assets acquired $ 23,746 Current liabilities (1,834) Non-current liabilities (3,034) Total liabilities assumed $ (4,868) Net assets acquired $ 18,878 The opening balance sheet for the Mar Cor Business is summarized as follows: Receivables, net $ 21,275 Inventories, net 32,350 Earn Out asset 7,824 Other current assets 1,844 Property, plant, and equipment, net 19,150 Goodwill 67,000 Intangible assets, net 57,094 Other non-current assets 7,694 Total assets acquired $ 214,231 Current liabilities (15,467) Non-current liabilities (5,542) Total liabilities assumed $ (21,009) Net assets acquired $ 193,222

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Information regarding the source of revenue: Three Months Ended 2022 2021 Revenue from contracts with customers recognized under Topic 606 $ 391,431 $ 317,771 Other (1) 44,415 48,497 Total $ 435,846 $ 366,268 (1) Other revenue relates to revenue recognized pursuant to ASU 2016-02, Leases (Topic 842) , primarily attributable to long term rentals. Information regarding revenue disaggregated by source of revenue and segment is as follows: Three Months Ended 2022 2021 Integrated Solutions and Services Capital $ 77,646 $ 67,102 Aftermarket 57,440 29,298 Service 170,340 148,646 Total $ 305,426 $ 245,046 Applied Product Technologies Capital $ 88,065 $ 83,884 Aftermarket 37,240 32,284 Service 5,115 5,054 Total $ 130,420 $ 121,222 Total Revenue Capital $ 165,711 $ 150,986 Aftermarket 94,680 61,582 Service 175,455 153,700 Total $ 435,846 $ 366,268 Information regarding revenue disaggregated by geographic area is as follows: Three Months Ended 2022 2021 United States $ 361,222 $ 294,708 Asia 34,521 30,905 Europe 24,487 25,629 Canada 13,174 12,661 Australia 2,442 2,365 Total $ 435,846 $ 366,268
Contract with Customer, Asset and Liability	The tables below provide a roll-forward of contract assets and contract liabilities balances for the periods presented: Three Months Ended Contract assets (a) 2022 2021 Balance at beginning of period $ 102,123 $ 72,746 Recognized in current period 91,519 120,387 Reclassified to accounts receivable (74,004) (108,684) Foreign currency (1,172) 533 Balance at end of period $ 118,466 $ 84,982 (a) Excludes receivable balances which are disclosed on the Consolidated Balance Sheets. Three Months Ended Contract Liabilities 2022 2021 Balance at beginning of period $ 62,439 $ 55,883 Recognized in current period 82,819 100,017 Amounts in beginning balance reclassified to revenue (49,264) (43,266) Current period amounts reclassified to revenue (20,530) (59,653) Foreign currency 2,125 41 Balance at end of period $ 77,589 $ 53,022

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the Company’s financial assets and liabilities at fair value. The fair values related to the pension plan assets are determined using net asset value (“NAV”) as a practical expedient, or by information categorized in the fair value hierarchy level based on the inputs used to determine fair value. The reported carrying amounts of deferred compensation plan assets and liabilities and debt approximate their fair values. The Company uses interest rates and other relevant information generated by market transactions involving similar instruments to measure the fair value of these assets and liabilities, therefore all are classified as Level 2 within the valuation hierarchy. Net Asset Value Quoted Market Significant Other Significant As of December 31, 2022 Assets: Pension plan Cash $ — $ 950 $ — $ — Global Multi-Asset Fund 12,764 — — — Government Securities 1,639 — — — Liability Driven Investment 1,624 — — — Guernsey Unit Trust 2,216 — — — Global Absolute Return 1,423 — — — Deferred compensation plan assets Cash — 1,017 — — Mutual Funds — 14,376 — — Earn-out assets related to acquisitions — — — 12,300 Interest rate swaps — — 47,402 — Foreign currency forward contracts — — 156 — Commodity swaps — — 1 — Liabilities: Pension plan — — (28,971) — Deferred compensation plan liabilities — — (21,594) — Total return swaps—deferred compensation — — (153) — Long‑term debt — — (877,898) — Foreign currency forward contracts — — (414) — Net Asset Value Quoted Market Significant Other Significant As of September 30, 2022 Assets: Pension plan Cash $ — $ 40 $ — $ — Global Multi-Asset Fund 11,632 — — — Government Securities 3,343 — — — Liability Driven Investment 928 — — — Guernsey Unit Trust 2,048 — — — Global Absolute Return 1,299 — — — Deferred compensation plan assets Cash — 902 — — Mutual Funds — 12,330 — — Earn-out assets related to acquisitions — — — 11,597 Interest rate swaps — — 49,952 — Foreign currency forward contracts — — 507 — Liabilities: Pension plan — — (26,654) — Deferred compensation plan liabilities — — (20,081) — Total return swaps—deferred compensation — — (632) — Long‑term debt — — (884,517) — Foreign currency forward contracts — — (872) — Commodity swaps — — (7) —

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of accounts receivable	Accounts receivable are summarized as follows: December 31, September 30, Accounts receivable $ 308,024 $ 312,600 Allowance for credit losses (6,896) (6,888) Receivables, net $ 301,128 $ 305,712
Accounts Receivable, Allowance for Credit Loss	The movement in the allowance for credit losses was as follows for the three months ended December 31, 2022: Balance at September 30, 2022 $ (6,888) Charged to costs and expenses (266) Write-offs 298 Foreign currency and other (40) Balance at December 31, 2022 $ (6,896)

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	The major classes of Inventories, net are as follows: December 31, September 30, Raw materials and supplies $ 140,368 $ 120,532 Work in progress 38,589 36,499 Finished goods and products held for resale 87,361 80,811 Costs of unbilled projects 3,342 2,309 Reserves for excess and obsolete (11,396) (10,800) Inventories, net $ 258,264 $ 229,351

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	3 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant, and equipment consists of the following: December 31, September 30, Machinery and equipment $ 397,656 $ 401,334 Rental equipment 274,408 267,345 Land and buildings 84,100 82,985 Construction in process 83,002 72,184 839,166 823,848 Less: accumulated depreciation (429,174) (418,559) Property, plant, and equipment, net $ 409,992 $ 405,289 Depreciation expense and maintenance and repairs expense for the three months ended December 31, 2022 and 2021 were as follows: Three Months Ended 2022 2021 Depreciation expense $ 21,039 $ 19,320 Maintenance and repair expense 8,230 6,119

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in the carrying amount of goodwill are as follows: Integrated Solutions and Services Applied Product Technologies Total Balance at September 30, 2022 $ 306,935 $ 166,637 $ 473,572 Measurement period adjustment (1,754) — (1,754) Foreign currency translation 582 3,813 4,395 Balance at December 31, 2022 $ 305,763 $ 170,450 $ 476,213

Debt (Tables)

Debt (Tables)	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long‑term debt, including accrued interest, consists of the following: December 31, September 30, 2021 Term Loan, due April 1, 2028 (1) $ 467,900 $ 469,063 2021 Revolving Credit Facility, due April 1, 2026 (2) 136,502 151,254 Securitization Facility, due April 1, 2024 (3) 150,282 150,201 Equipment Financing, due September 30, 2023 to September 30, 2032, interest rates ranging from 3.59% to 8.07% 126,503 120,155 Total debt 881,187 890,673 Less unamortized deferred financing fees (9,396) (9,873) Total net debt 871,791 880,800 Less current portion (19,322) (17,266) Total long‑term debt $ 852,469 $ 863,534 (1) The interest rate on the 2021 Term Loan was 6.38% as of December 31, 2022, comprised of 4.13% LIBOR plus a 2.25% spread. Includes accrued interest of $25 and $0 at December 31, 2022 and September 30, 2022, respectively. (2) The 2021 Revolving Credit Facility includes $136,000 outstanding with an interest rate of 6.33% as of December 31, 2022, comprised of 4.13% LIBOR plus a 2.20% spread. Includes accrued interest of $502 and $254, at December 31, 2022 and September 30, 2022, respectively. (3) The interest rate on the Securitization Facility was 5.64% as of December 31, 2022, comprised of 4.39% LIBOR plus a 1.25% spread. Includes accrued interest of $282 and $201 at December 31, 2022 and September 30, 2022, respectively.
Schedule of Line of Credit Facilities	The following table summarizes the amount of the Company’s outstanding borrowings and outstanding letters of credit under the 2021 Revolving Credit Facility as of December 31, 2022 and September 30, 2022. December 31, September 30, Borrowing availability $ 350,000 $ 350,000 Outstanding borrowings 136,000 151,000 Outstanding letters of credit 8,760 9,317 Unused amounts $ 205,240 $ 189,683 The following summarizes the Company’s outstanding letters of credit and surety bonds as of December 31, 2022 and September 30, 2022, respectively. December 31, September 30, Revolving credit capacity $ 60,000 $ 60,000 Letters of credit outstanding 8,760 9,317 Remaining revolving credit capacity $ 51,240 $ 50,683 Surety capacity $ 262,135 $ 261,959 Surety issuances 136,862 134,037 Remaining surety available $ 125,273 $ 127,922
Schedule of Equipment Financing		During the three months ended December 31, 2022, the Company completed the following equipment financings: Date Entered Due Interest Rate as of December 31, 2022 Principal Amount December 30, 2022 September 30, 2032 (1) 5.30 % $ 1,452 December 19, 2022 May 31, 2029 (2) 5.03 % 2,041 October 31, 2022 June 30, 2029 6.33 % 6,208 $ 9,701 (1) Represents an advance received from the lender on a multiple draw term loan in which the Company is making interest only payments through September 30, 2023 based on an interest rate of 5.30% including a 3.05% Bloomberg Short-Term Bank Yield Index plus a 2.25% spread as of December 31, 2022. (2) Represents an advance received from the lender on a multiple draw term loan in which the Company is making interest only payments through December 30, 2022 based on a 2.28% Secured Overnight Financing Rate plus a 2.75% spread. The Company has secured financing agreements that require providing a security interest in specified equipment and, in some cases, the underlying contract and related receivables. As of December 31, 2022 and September 30, 2022, the gross and net amounts of those assets are included on the Consolidated Balance Sheets as follows: December 31, September 30, Gross Net Gross Net Property, plant, and equipment, net Machinery and equipment $ 79,965 $ 55,996 $ 86,294 $ 62,459 Construction in process 16,531 16,531 14,201 14,201 Receivables, net 793 793 108 108 Prepaid and other current assets 3,147 3,147 3,276 3,276 Other non‑current assets 54,057 53,718 51,877 51,550 $ 154,493 $ 130,185 $ 155,756 $ 131,594
Schedule of Deferred Financing Costs and Discounts	Deferred financing fees and discounts related to the Company’s long-term debt were included as a contra liability to debt on the Consolidated Balance Sheets as follows: December 31, September 30, Current portion of deferred financing fees and discounts (1) $ (1,906) $ (1,899) Long-term portion of deferred financing fees and discounts (2) (7,490) (7,974) Total deferred financing fees and discounts $ (9,396) $ (9,873) (1) Included in Current portion of debt, net of deferred financing fees and discounts on the Consolidated Balance Sheets.
Schedule of Aggregate Maturities of Long-term Debt	Aggregate maturities of all long‑term debt, including current portion of long‑term debt and excluding finance lease obligations as of December 31, 2022, are presented below: Fiscal Year Remainder of 2023 $ 16,245 2024 169,620 2025 21,224 2026 160,581 2027 22,304 Thereafter 491,213 Total $ 881,187

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following represents the fair value recorded for derivatives designated as cash flow hedges for the periods presented: Asset Derivatives Balance Sheet Location December 31, September 30, Interest rate swaps Prepaid and other current assets $ 22,277 $ 19,186 Foreign currency forward contracts Prepaid and other current assets 156 467 Commodity swaps Prepaid and other current assets 1 — Interest rate swaps Other non‑current assets 25,125 30,766 Liability Derivatives Balance Sheet Location December 31, September 30, Foreign currency forward contracts Accrued expenses and other current liabilities 385 872 Commodity swaps Accrued expenses and other current liabilities — 7 The following represents the fair value recorded for derivatives not designated as cash flow hedges for the periods presented: Asset Derivatives Balance Sheet Location December 31, September 30, Foreign currency forward contracts Prepaid and other current assets $ — $ 40 Liability Derivatives Balance Sheet Location December 31, September 30, Total return swaps—deferred compensation Accrued expenses and other current liabilities $ 153 $ 632 Foreign currency forward contracts Accrued expenses and other current liabilities 29 —
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)	The following represents the amount of gain (loss) recognized in Accumulated other comprehensive income (loss) (“AOCI”) (net of tax) during the periods presented: Three Months Ended 2022 2021 Interest rate swaps $ 2,099 $ 5,871 Foreign currency forward contracts (389) (18) Commodity swaps 8 20 $ 1,718 $ 5,873
Derivative Instruments, Gain (Loss)	The following represents the amount of gain (loss) reclassified from AOCI into earnings during the periods presented: Three Months Ended Location of (Loss) Gain 2022 2021 Cost of product sales and services $ (106) $ (85) General and administrative expense (402) (7) Selling and marketing expense — 1 Interest expense 4,012 (617) $ 3,504 $ (708)
Derivatives Not Designated as Hedging Instruments	The following represents the amount of gain recognized in earnings for derivatives not designated as hedges during the periods presented: Three Months Ended Location of Gain 2022 2021 General and administrative expense $ 375 $ 311 $ 375 $ 311

Product Warranties (Tables)

Product Warranties (Tables)	3 Months Ended
	Dec. 31, 2022
Guarantees and Product Warranties [Abstract]
Schedule of product warranty liability	A reconciliation of the activity related to the accrued warranty, including both the current and long‑term portions, is as follows: Current Product Warranties Non-Current Product Warranties Three Months Ended Three Months Ended 2022 2021 2022 2021 Balance at beginning of the period $ 6,740 $ 8,138 $ 3,465 $ 2,966 Warranty provision for sales 758 1,188 206 201 Settlement of warranty claims (645) (1,262) (415) (219) Foreign currency translation and other 28 (171) 90 (46) Balance at end of the period $ 6,881 $ 7,893 $ 3,346 $ 2,902

Restructuring and Related Cha_2

Restructuring and Related Charges (Tables)	3 Months Ended
	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Schedule of restructuring components	The table below sets forth the amounts accrued for the restructuring components and related activity: Three Months Ended 2022 2021 Balance at beginning of the period $ 658 $ 304 Restructuring charges following the sale of the Memcor product line 19 207 Restructuring charges related to two-segment realignment — 164 Restructuring charges related to other initiatives 1,560 766 Release of prior reserves (26) (21) Cash payments (1,050) (1,138) Other adjustments 1 — Balance at end of the period $ 1,162 $ 282 The table below sets forth the location of amounts recorded above on the Unaudited Consolidated Statements of Operations: Three Months Ended 2022 2021 Cost of product sales and services $ 739 $ 222 General and administrative expense 668 894 Sales and marketing expense 146 — $ 1,553 $ 1,116

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of net benefit costs	The components of net periodic benefit cost for the plans were as follows: Three Months Ended 2022 2021 Service cost $ 137 $ 232 Interest cost 196 108 Expected return on plan assets (108) (132) Amortization of actuarial (gains) losses (13) 169 Pension expense for defined benefit plans $ 212 $ 377

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Stock options, activity	A summary of the stock option activity, including stock appreciation rights, as of December 31, 2022 is presented below: (In thousands, except per share amounts) Options Weighted Average Exercise Price/Share Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at September 30, 2022 4,265 $ 14.74 5.2 years $ 78,218 Granted 4 42.42 Exercised (71) 14.07 Forfeited — 24.76 Outstanding at December 31, 2022 4,198 $ 14.77 5.0 years $ 104,245 Options exercisable at December 31, 2022 3,154 $ 12.48 4.2 years $ 85,523 Options vested and expected to vest at December 31, 2022 4,194 $ 14.76 5.0 years $ 104,179
Schedule of Nonvested Share Activity	A summary of the status of the Company's unvested stock options as of and for the three months ended December 31, 2022 is presented below. (In thousands, except per share amounts) Shares Weighted Average Grant Date Fair Value/Share Unvested at beginning of period 1,042 $ 6.82 Granted 4 21.39 Vested (2) 12.63 Forfeited — 8.98 Unvested at end of period 1,044 $ 6.88
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	The following is a summary of the RSU activity for the three months ended December 31, 2022. (In thousands, except per share amounts) Shares Weighted Average Grant Date Fair Value/Share Outstanding at September 30, 2022 980 $ 30.18 Granted 290 42.32 Vested (33) 44.60 Forfeited (19) 41.34 Outstanding at December 31, 2022 1,218 $ 32.51 Expected to vest at December 31, 2022 1,181 $ 32.26 The following is a summary of the performance share unit activity for the three months ended December 31, 2022, assuming target award level. (In thousands, except per share amounts) Shares Weighted Average Grant Date Fair Value/Share Unvested at beginning of period 592 $ 23.36 Granted 154 43.46 Forfeited (2) 42.45 Unvested at end of period 744 $ 27.48 Expected to vest 697 $ 27.23

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Line of Credit Facilities	The following table summarizes the amount of the Company’s outstanding borrowings and outstanding letters of credit under the 2021 Revolving Credit Facility as of December 31, 2022 and September 30, 2022. December 31, September 30, Borrowing availability $ 350,000 $ 350,000 Outstanding borrowings 136,000 151,000 Outstanding letters of credit 8,760 9,317 Unused amounts $ 205,240 $ 189,683 The following summarizes the Company’s outstanding letters of credit and surety bonds as of December 31, 2022 and September 30, 2022, respectively. December 31, September 30, Revolving credit capacity $ 60,000 $ 60,000 Letters of credit outstanding 8,760 9,317 Remaining revolving credit capacity $ 51,240 $ 50,683 Surety capacity $ 262,135 $ 261,959 Surety issuances 136,862 134,037 Remaining surety available $ 125,273 $ 127,922

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued expenses and other liabilities consisted of the following: December 31, September 30, Salaries, wages, and other benefits $ 52,373 $ 83,618 Obligation under operating leases 15,527 14,932 Obligation under finance leases 12,917 12,875 Provisions for litigation 12,709 2,375 Deferred revenue 9,760 9,692 Third party commissions 9,615 10,341 Taxes, other than income 5,833 5,594 Insurance liabilities 3,958 3,456 Severance payments 1,162 658 Fair value of liability derivatives 567 1,511 Other 32,425 33,220 $ 156,846 $ 178,272

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of segment reporting information, by segment	Reportable operating segment revenue and operating profit for the three months ended December 31, 2022 and 2021 were as follows: Three Months Ended 2022 2021 Total revenue Integrated Solutions and Services $ 311,264 $ 253,576 Applied Product Technologies 150,338 142,497 Total revenue 461,602 396,073 Intersegment revenue Integrated Solutions and Services 5,838 8,530 Applied Product Technologies 19,918 21,275 Total intersegment revenue 25,756 29,805 Revenue to external customers Integrated Solutions and Services 305,426 245,046 Applied Product Technologies 130,420 121,222 Total revenue $ 435,846 $ 366,268 Operating profit (loss) Integrated Solutions and Services $ 42,708 $ 35,300 Applied Product Technologies 21,015 17,827 Corporate (40,491) (38,839) Total operating profit 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 December 31, September 30, Assets Integrated Solutions and Services $ 1,178,127 $ 1,123,166 Applied Product Technologies 671,396 653,244 Corporate 357,834 414,453 Total assets $ 2,207,357 $ 2,190,863

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The following table sets forth the computation of basic and diluted earnings from continuing operations per common share (in thousands, except per share amounts): Three Months Ended 2022 2021 Numerator: Numerator for basic and diluted earnings per common share—Net income attributable to Evoqua Water Technologies Corp. $ 9,268 $ 5,987 Denominator: Denominator for basic net income per common share—weighted average shares 121,848 120,632 Effect of dilutive securities: Share‑based compensation 3,446 4,315 Denominator for diluted net income per common share—adjusted weighted average shares 125,294 124,947 Basic earnings attributable to Evoqua Water Technologies Corp. per common share $ 0.08 $ 0.05 Diluted earnings attributable to Evoqua Water Technologies Corp. per common share $ 0.07 $ 0.05

Description of the Company an_3

Description of the Company and Basis of Presentation (Details) $ / shares in Units, $ in Thousands		3 Months Ended
	Oct. 29, 2018 segment	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) segment $ / shares	Sep. 30, 2022 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment	3		2
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)			$ 0.01	$ 0.01
Merger related costs | $			$ 200
Subsequent Event
Business Acquisition [Line Items]
Termination fee | $		$ 225,000
Xylem Inc. | Common Stock | Subsequent Event
Business Acquisition [Line Items]
Acquirer shares issued per acquiree share (in shares) | shares		0.48
Shares exchanged, common stock, par value		$ 0.01
Xylem Inc. | Legacy Evoqua Water Technologies | Subsequent Event
Business Acquisition [Line Items]
Percentage of equity interests, of acquiree, after transaction		25%
Xylem Inc. | Legacy Xylem | Subsequent Event
Business Acquisition [Line Items]
Percentage of voting interests acquired		75%
Xylem Inc. | Evoqua Water Technologies | Subsequent Event
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)		$ 0.01

Variable Interest Entities- Inv

Variable Interest Entities- Investments, Equity Method and Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Jul. 01, 2022	Apr. 08, 2021	Feb. 28, 2021	Oct. 01, 2019
Schedule of Equity Method Investments [Line Items]
Obligation to absorb risk of loss, percentage of partner's equity	100%
Revenues	$ 435,846	$ 366,268
Operating Expenses	(108,297)	(97,730)
Operating profit (loss)	$ 23,232	14,288
Frontier
Schedule of Equity Method Investments [Line Items]
Remaining percentage to be acquired	40%
Percentage of voting interests acquired			32%	8%		60%
Frontier | Maximum
Schedule of Equity Method Investments [Line Items]
Remaining percentage to be acquired					10%
Treated Water Outsourcing
Schedule of Equity Method Investments [Line Items]
Partnership interest	50%
Revenues		845
Operating Expenses		(737)
Operating profit (loss)		108
Frontier
Schedule of Equity Method Investments [Line Items]
Revenues		6,949
Operating Expenses		(5,986)
Operating profit (loss)		$ 963

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) $ in Thousands					3 Months Ended
	Jul. 15, 2022 USD ($)	Jul. 01, 2022 USD ($) numberOfCustomers	Jan. 03, 2022 USD ($)	Dec. 20, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Business Acquisition [Line Items]
Cash paid to acquire business, net					$ 1,716	$ 0
Proceeds from previous acquisition					1,754
Final purchase price					193,222
Epicor Inc
Business Acquisition [Line Items]
Cash paid to acquire business, net	$ 4,339
Payments for previous acquisition					38
Smith Engineering Inc
Business Acquisition [Line Items]
Cash paid to acquire business, net		$ 18,878
Escrow deposit		$ 2,895
Number of customers | numberOfCustomers		1,200
Mar Cor
Business Acquisition [Line Items]
Cash paid to acquire business, net			$ 194,976
Escrow deposit			12,965
Price of acquisition, expected				$ 196,300
Borrowings under credit facility			160,000
Contingent consideration, liability					$ 12,300
Mar Cor | General Indemnity
Business Acquisition [Line Items]
Escrow deposit			9,815
Mar Cor | Working Capital Adjustments
Business Acquisition [Line Items]
Escrow deposit			$ 3,150

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Preliminary Opening Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022
Business Combination, Separately Recognized Transactions [Line Items]
Goodwill	$ 476,213	$ 473,572
Smith Engineering Inc
Business Combination, Separately Recognized Transactions [Line Items]
Receivables, net			$ 2,501
Inventories, net			1,345
Other current assets			937
Property, plant, and equipment, net			532
Goodwill			7,820
Intangible assets, net			9,815
Other non-current assets			796
Total assets acquired			23,746
Current liabilities			(1,834)
Non-current liabilities			(3,034)
Total liabilities assumed			(4,868)
Net assets acquired			$ 18,878
Mar Cor
Business Combination, Separately Recognized Transactions [Line Items]
Receivables, net				$ 21,275
Inventories, net				32,350
Earn Out asset				7,824
Other current assets				1,844
Property, plant, and equipment, net				19,150
Goodwill				67,000
Intangible assets, net				57,094
Other non-current assets				7,694
Total assets acquired				214,231
Current liabilities				(15,467)
Non-current liabilities				(5,542)
Total liabilities assumed				(21,009)
Net assets acquired				$ 193,222

Revenue (Performance Obligation

Revenue (Performance Obligation) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 398,960
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period: 2022-01-01 | Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period: 2022-04-01 | Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months

Revenue (Disaggregation of Reve

Revenue (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands		3 Months Ended
		Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers recognized under Topic 606		$ 391,431	$ 317,771
Other	[1]	44,415	48,497
Revenues		435,846	366,268
United States
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		361,222	294,708
Europe
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		24,487	25,629
Asia
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		34,521	30,905
Canada
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		13,174	12,661
Australia
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		2,442	2,365
Integrated Solutions and Services
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		305,426
Applied Product Technologies
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		130,420
Revenue from aftermarket
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		94,680	61,582
Revenue from aftermarket | Integrated Solutions and Services
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		57,440	29,298
Revenue from aftermarket | Applied Product Technologies
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		37,240	32,284
Revenue from service
Disaggregation of Revenue [Line Items]
Revenues		175,455	153,700
Revenue from product sales and services		175,455	153,700
Revenue from service | Integrated Solutions and Services
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		170,340	148,646
Revenue from service | Applied Product Technologies
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		5,115	5,054
Revenue from capital projects
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		165,711	150,986
Revenue from capital projects | Integrated Solutions and Services
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		77,646	67,102
Revenue from capital projects | Applied Product Technologies
Disaggregation of Revenue [Line Items]
Revenue from product sales and services		$ 88,065	$ 83,884
[1]Other revenue relates to revenue recognized pursuant to ASU 2016-02, Leases (Topic 842) , primarily attributable to long term rentals.

Revenue (Contract Assets and Li

Revenue (Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 77,589	$ 53,022	$ 62,439	$ 55,883
Change in Contract with Customer, Asset [Roll Forward]
beginning of period	102,123	72,746
Recognized in current period	91,519	120,387
Reclassified to accounts receivable	74,004	108,684
Foreign currency	(1,172)	533
end of period	118,466	84,982
Change in Contract with Customer, Liability [Roll Forward]
Recognized in current period	82,819	100,017
Amounts in beginning balance reclassified to revenue	(49,264)	(43,266)
Current period amounts reclassified to revenue	(20,530)	(59,653)
Foreign currency	$ 2,125	$ 41

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities at Fair Value) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022	Apr. 01, 2022
Deferred compensation plan assets
Mutual Funds	$ 14,376
Mar Cor
Deferred compensation plan assets
Earn Out asset			$ 7,824
Significant Unobservable Inputs (Level 3) | Mar Cor
Deferred compensation plan assets
Earn Out asset	12,300	$ 11,597
Fair Value, Measurements, Recurring | Quoted Market Prices in Active Markets (Level 1)
Deferred compensation plan assets
Cash	1,017	902
Mutual Funds		12,330
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Deferred compensation plan assets
Interest rate swaps		49,952
Foreign currency forward contracts	156	507
Liabilities:
Pension plan	(28,971)	(26,654)
Deferred compensation plan liabilities	(21,594)	(20,081)
Total return swaps—deferred compensation	(153)	(632)
Long‑term debt	(877,898)	(884,517)
Foreign currency forward contracts	(414)	(872)
Commodity swaps	1	(7)
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Designated as Hedging Instrument | Other Current Liabilities
Deferred compensation plan assets
Interest rate swaps	47,402
Fair Value, Measurements, Recurring | Cash | Quoted Market Prices in Active Markets (Level 1)
Assets:
Defined benefit plan, fair value of plan assets	950	40
Fair Value, Measurements, Recurring | Global Multi-Asset Fund | Net Asset Value
Assets:
Plan assets at net asset value	12,764	11,632
Fair Value, Measurements, Recurring | Government Securities | Net Asset Value
Assets:
Plan assets at net asset value	1,639	3,343
Fair Value, Measurements, Recurring | Liability Driven Investment | Net Asset Value
Assets:
Plan assets at net asset value	1,624	928
Fair Value, Measurements, Recurring | Guernsey Unit Trust | Net Asset Value
Assets:
Plan assets at net asset value	2,216	2,048
Fair Value, Measurements, Recurring | Global Absolute Return | Net Asset Value
Assets:
Plan assets at net asset value	$ 1,423	$ 1,299

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Apr. 01, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Unrealized loss on investments	$ 2,226
Mar Cor
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Earn Out asset			$ 7,824
Increase in fair value of earn out	703	$ 3,773
Mar Cor | Significant Unobservable Inputs (Level 3)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Earn Out asset	$ 12,300	$ 11,597

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Receivables [Abstract]
Accounts receivable	$ 308,024	$ 312,600
Allowance for credit losses	(6,896)	(6,888)
Accounts receivable, net	301,128	$ 305,712
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at September 30, 2020	(6,888)
Charged to costs and expenses	(266)
Write-offs	298
Foreign currency and other	(40)
Balance at December 31, 2020	$ (6,896)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 140,368	$ 120,532
Work in progress	38,589	36,499
Finished goods and products held for resale	87,361	80,811
Costs of unbilled projects	3,342	2,309
Reserves for excess and obsolete	(11,396)	(10,800)
Inventory, Net	$ 258,264	$ 229,351

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 839,166		$ 823,848
Less: accumulated depreciation	(429,174)		(418,559)
Property, plant, and equipment, net	409,992		405,289
Depreciation and amortization	21,039	$ 19,320
Maintenance and repair expense	8,230	$ 6,119
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	397,656		401,334
Land and buildings
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	84,100		82,985
Construction in process
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	83,002		72,184
Rental equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 274,408		$ 267,345

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Business acquisition, goodwill, expected tax deductible, amount	$ 248,779	$ 250,636

Goodwill (Schedule of Goodwill)

Goodwill (Schedule of Goodwill) (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of the period	$ 473,572
Measurement period adjustment	(1,754)
Foreign currency translation	4,395
Goodwill, end of the period	476,213
Operating Segments | Integrated Solutions and Services
Goodwill [Roll Forward]
Goodwill, beginning of the period	306,935
Measurement period adjustment	(1,754)
Foreign currency translation	582
Goodwill, end of the period	305,763
Operating Segments | Applied Product Technologies
Goodwill [Roll Forward]
Goodwill, beginning of the period	166,637
Measurement period adjustment	0
Foreign currency translation	3,813
Goodwill, end of the period	$ 170,450

Debt (Schedule of Long-term Deb

Debt (Schedule of Long-term Debt) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Total debt	$ 881,187	$ 890,673
Less unamortized deferred financing fees	(9,396)	(9,873)
Total net debt	871,791	880,800
Current portion of debt	(19,322)	(17,266)
Total long‑term debt	$ 852,469	863,534
Securitization Facility, due April 1, 2024
Debt Instrument [Line Items]
Debt , interest rate, effective percentage	5.64%
Securitization Facility, due April 1, 2024 | Rate three
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Securitization Facility, due April 1, 2024 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.39%
2021 Term Loan
Debt Instrument [Line Items]
Total debt	$ 467,900	469,063
Debt , interest rate, effective percentage	6.38%
Debt instrument, basis spread on variable rate	2.25%
Interest payable	$ 25	0
2021 Term Loan | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.13%
2021 Revolving Credit Facility, due April 2026
Debt Instrument [Line Items]
Total debt	$ 136,502	151,254
Interest payable	502	254
2021 Revolving Credit Facility, due April 2026 | Rate one
Debt Instrument [Line Items]
Total debt	$ 136,000
Debt , interest rate, effective percentage	6.33%
2021 Revolving Credit Facility, due April 2026 | Rate two
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.20%
2021 Revolving Credit Facility, due April 2026 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.13%
Securitization Facility, due April 1, 2024
Debt Instrument [Line Items]
Total debt	$ 150,282	150,201
Interest payable	282	201
Equipment Financing, due September 30, 2023 to September 30, 2032, interest rates ranging from 3.59% to 8.07% | Equipment Financings
Debt Instrument [Line Items]
Total debt	$ 126,503	$ 120,155
Minimum | Equipment Financing, due September 30, 2023 to September 30, 2032, interest rates ranging from 3.59% to 8.07% | Equipment Financings
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.59%
Maximum | Equipment Financing, due September 30, 2023 to September 30, 2032, interest rates ranging from 3.59% to 8.07% | Equipment Financings
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	8.07%

Debt (Narrative) (Details)

Debt (Narrative) (Details)		3 Months Ended
	Apr. 01, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Line of Credit Facility [Line Items]
Debt covenant, springing maximum first lien ratio	5.55
Amortization of debt issuance costs and discounts		$ 476,000	$ 467,000
Maximum
Line of Credit Facility [Line Items]
Accounts receivable from securitization	$ 150,000,000
2021 Credit Agreement | Term Loan
Line of Credit Facility [Line Items]
Amount of loan	475,000,000
2021 Credit Agreement | Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing availability	350,000,000
2021 Credit Agreement | Letter of Credit
Line of Credit Facility [Line Items]
Borrowing availability	$ 60,000,000

Debt (Schedule of Line of Credi

Debt (Schedule of Line of Credit Facilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Line of Credit Facility [Line Items]
Unused amounts	$ 60,000	$ 60,000
Letter of Credit
Line of Credit Facility [Line Items]
Outstanding letters of credit		9,317
2021 Revolving Credit Facility, due April 2026
Line of Credit Facility [Line Items]
Outstanding borrowings	136,000	151,000
Unused amounts	205,240	189,683
2021 Revolving Credit Facility, due April 2026 | Revolving Credit Facility
Line of Credit Facility [Line Items]
Borrowing availability	350,000	350,000
2021 Revolving Credit Facility, due April 2026 | Letter of Credit
Line of Credit Facility [Line Items]
Outstanding letters of credit	$ 8,760	$ 9,317

Debt (Schedule of Equipment Fin

Debt (Schedule of Equipment Financings) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Equipment Financing Due Sep 30 2032 | Loans Payable
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.30%
Principal Amount	$ 1,452
Debt instrument, basis spread on variable rate	2.25%
Equipment Financing Due Sep 30 2032 | Loans Payable | Bloomberg Short-Term Bank Yield Index
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.05%
Equipment Financing Due May 31 2029 | Loans Payable
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.03%
Principal Amount	$ 2,041
Debt instrument, basis spread on variable rate	2.75%
Equipment Financing Due May 31 2029 | Loans Payable | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.28%
Equipment Financing Due Jun 30 2029 | Loans Payable
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	6.33%
Principal Amount	$ 6,208
Equipment Financings
Debt Instrument [Line Items]
Collateral amount, gross	154,493	$ 155,756
Collateral amount, net	130,185	131,594
Equipment Financings | Property, plant and equipment net | Machinery and equipment
Debt Instrument [Line Items]
Collateral amount, gross	79,965	86,294
Collateral amount, net	55,996	62,459
Equipment Financings | Property, plant and equipment net | Construction in process
Debt Instrument [Line Items]
Collateral amount, gross	16,531	14,201
Collateral amount, net	16,531	14,201
Equipment Financings | Receivables, net
Debt Instrument [Line Items]
Collateral amount, gross	793	108
Collateral amount, net	793	108
Equipment Financings | Prepaid and other current assets
Debt Instrument [Line Items]
Collateral amount, gross	3,147	3,276
Collateral amount, net	3,147	3,276
Equipment Financings | Other non‑current assets
Debt Instrument [Line Items]
Collateral amount, gross	54,057	51,877
Collateral amount, net	53,718	$ 51,550
Equipment Financings | Loans Payable
Debt Instrument [Line Items]
Principal Amount	$ 9,701

Debt (schedule of Deferred Fina

Debt (schedule of Deferred Financing Fees and Discounts (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net	$ 9,396	$ 9,873
First Lien Term Facility, due December 20, 2024
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net	(9,396)	(9,873)
First Lien Term Facility, due December 20, 2024 | Other Current Liabilities
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net	(1,906)	(1,899)
First Lien Term Facility, due December 20, 2024 | Other Noncurrent Liabilities
Debt Instrument [Line Items]
Unamortized discount (premium) and debt issuance costs, net	$ (7,490)	$ (7,974)

Debt (Long-term Debt Maturities

Debt (Long-term Debt Maturities) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2023	$ 16,245
2024	169,620
2025	21,224
2026	160,581
2027	22,304
Thereafter	491,213
Long-term Debt	$ 881,187

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2022 USD ($)
Derivative [Line Items]
Gain expected to reclassified from AOCI to earnings	$ (196)
Interest rate swaps
Derivative [Line Items]
Derivative, Notional Amount	540,000
Foreign currency forward contracts
Derivative [Line Items]
Derivative, Notional Amount	16,924
Commodity swaps
Derivative [Line Items]
Derivative, Notional Amount	$ 4,702

Derivative Financial Instrume_4

Derivative Financial Instruments (Fair Values) (Details) - Significant Other Observable Inputs (Level 2) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Derivatives, Fair Value [Line Items]
Interest rate cap		$ 49,952
Designated as Hedging Instrument | Prepaid and other current assets | Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest rate cap	$ 22,277	19,186
Designated as Hedging Instrument | Prepaid and other current assets | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts	156	467
Designated as Hedging Instrument | Prepaid and other current assets | Commodity swaps
Derivatives, Fair Value [Line Items]
Commodity swaps	1	0
Designated as Hedging Instrument | Other Current Liabilities
Derivatives, Fair Value [Line Items]
Interest rate cap	47,402
Foreign currency forward contracts	385	872
Commodity swaps	0	7
Designated as Hedging Instrument | Other Assets | Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest rate cap	$ 25,125	$ 30,766

Derivative Financial Instrume_5

Derivative Financial Instruments (Amounts Recognized in AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized derivative (loss) gain on cash flow hedges, net of tax	$ (1,786)	$ 6,581
Other Comprehensive Income (Loss) | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized derivative (loss) gain on cash flow hedges, net of tax	1,718	5,873
Interest rate swaps | Other Comprehensive Income (Loss) | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized derivative (loss) gain on cash flow hedges, net of tax	2,099	5,871
Foreign currency forward contracts | Other Comprehensive Income (Loss) | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized derivative (loss) gain on cash flow hedges, net of tax	(389)	(18)
Commodity swaps | Other Comprehensive Income (Loss) | Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized derivative (loss) gain on cash flow hedges, net of tax	$ 8	$ 20

Derivative Financial Instrume_6

Derivative Financial Instruments (Amounts Reclassified out of AOCI) (Details) - Reclassification out of Accumulated Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 3,504	$ (708)
Cost of Product Sales and Services
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(106)	(85)
General and Administrative Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(402)	(7)
Sales and Marketing Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	0	1
Interest Expense
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 4,012	$ (617)

Derivative Financial Instrume_7

Derivative Financial Instruments (Derivatives Not Designated as Cash Flow Hedges) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain	$ 375	$ 311
General and Administrative Expense
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain	375	$ 311
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Not Designated as Hedging Instrument | Other Current Liabilities
Derivatives, Fair Value [Line Items]
Foreign currency forward contracts	29		$ 0
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Total Return Swap | Not Designated as Hedging Instrument | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	153		632
Significant Other Observable Inputs (Level 2) | Fair Value, Measurements, Recurring | Foreign currency forward contracts | Not Designated as Hedging Instrument | Prepaid and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	$ 0		$ 40

Product Warranties (Details)

Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of the period	$ 6,740
Balance at beginning of the period	3,465
Balance at end of the period	6,881
Balance at end of the period	3,346
Other Current Liabilities
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of the period	6,740	$ 8,138
Warranty provision for sales	758	1,188
Settlement of warranty claims	(645)	(1,262)
Foreign currency translation and other	28	(171)
Balance at end of the period	6,881	7,893
Other Noncurrent Liabilities
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at beginning of the period	3,465	2,966
Warranty provision for sales	206	201
Settlement of warranty claims	(415)	(219)
Foreign currency translation and other	90	(46)
Balance at end of the period	$ 3,346	$ 2,902

Restructuring and Related Cha_3

Restructuring and Related Charges (Details) $ in Thousands		3 Months Ended
	Oct. 29, 2018 segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)
Restructuring Cost and Reserve [Line Items]
Number of reportable segments | segment	3	2
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning of the period		$ 658	$ 304
Restructuring charges		1,553	1,116
Release of prior reserves		26	21
Cash payments		(1,050)	(1,138)
Other adjustments		1	0
Restructuring reserve, end of the period		1,162	282
Cost of Product Sales and Services
Restructuring Reserve [Roll Forward]
Restructuring charges		739	222
General and Administrative Expense
Restructuring Reserve [Roll Forward]
Restructuring charges		668	894
Sales and Marketing Expense
Restructuring Reserve [Roll Forward]
Restructuring charges		146	0
Post Memcor product line sale restructuring
Restructuring Reserve [Roll Forward]
Restructuring charges		19	207
Two-segment realignment
Restructuring Reserve [Roll Forward]
Restructuring charges		0	164
Other Restructuring
Restructuring Reserve [Roll Forward]
Restructuring charges		1,560	$ 766
Other Restructuring | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost		3,700,000
Other Restructuring | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, expected cost		$ 4,700,000

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Service cost	$ 137	$ 232
Interest cost	196	108
Expected return on plan assets	(108)	(132)
Amortization of actuarial (gains) losses	(13)	169
Pension expense for defined benefit plans	$ 212	$ 377

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Estimated Annual Effective Tax Rate Used to Calculate Income Tax Expense (Benefit)	31.80%	23.10%
Federal statutory income tax rate, percent	21%	21%
Income tax expense	$ (3,890)	$ (1,621)
Income before income taxes	$ 13,158	$ 7,709
Effective income tax rate reconciliation, percent	29.60%	21%
Unrecognized Tax Benefits	$ 1,614	$ 1,628

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands				3 Months Ended
	Oct. 01, 2021	Dec. 21, 2018	Oct. 01, 2018	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period				3 years
Granted (shares)				4
Intrinsic value, exercises in period				$ 2,014
Fair value of options vested				13
Share-based Compensation expense				6,317	$ 5,334
Non-cash share-based compensation				6,196	5,203
Compensation cost not yet recognized, period for recognition				28,304
Proceeds from issuance of common stock				$ 2,868	2,085
Employee Stock Ownership Plan (ESOP), Shares in ESOP		11,297
Common stock, par value (in dollars per share)				$ 0.01		$ 0.01
Evoqua Water Technologies Corp. Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards vesting percentage				25%
Contractual term of options				10 years
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Maximum Payout, Maximum Percentage				250%
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Performance Measurement Period				3 years
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity incentive plan, number of shares authorized (shares)				11,083
Number of shares available for grant (in shares)				2,177
Compensation cost not yet recognized, period for recognition				$ 3,841
Period for recognition for unrecognized compensation expense				1 year 2 months 12 days
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)				3,576
Purchase price of stock, percentage			85%
Employee Stock Ownership Plan (ESOP), Shares in ESOP		5,000
Employee Stock Ownership Plan (ESOP), Compensation Expense				$ 316	$ 221
Shares issued under ESPP	62
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)		$ 0.01
Special RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized, period for recognition				$ 14,929
Period for recognition for unrecognized compensation expense				1 year 9 months 18 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition for unrecognized compensation expense				1 year 9 months 18 days

Share-Based Compensation (Stock

Share-Based Compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Options
Outstanding at beginning of the period (shares)	4,265,000
Granted (shares)	4,000
Exercised (shares)	(71,000)
Forfeited (shares)	0
Outstanding at end of the period (shares)	4,198,000
Options exercisable (shares)	3,154,000
Options vested and expected to vest (shares)	4,194,000
Weighted Average Exercise Price/Share
Weighted average exercise price, outstanding, beginning balance (in dollars per share)	$ 14.74
Weighted average exercise price, granted (in dollars per share)	42.42
Weighted average exercise price, exercised (in dollars per share)	14.07
Weighted average exercise price, forfeited (in dollars per share)	24.76
Weighted average exercise price, outstanding, ending balance (in dollars per share)	14.77
Weighted average exercise price, exercisable (in dollars per share)	12.48
Weighted average exercise price, options vested and expected to vest (in dollars per share)	$ 14.76
Weighted Average Remaining Contractual Term
Weighted average remaining contractual term, outstanding	5 years	5 years 2 months 12 days
Weighted average contractual term, exercisable	4 years 2 months 12 days
Weighted average remaining contractual term, options vested and expected to vest	5 years
Intrinsic value, outstanding	$ 104,245		$ 78,218
Intrinsic value, exercisable	85,523
Intrinsic value, options vested and expected to vest	$ 104,179

Share-Based Compensation (Nonve

Share-Based Compensation (Nonvested Share Activity) (Details)	3 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Unvested at beginning of period | shares	1,042,000
Granted (shares) | shares	4,000
Vested (shares) | shares	(2,000)
Forfeited (shares) | shares	0
Unvested at end of period | shares	1,044,000
Weighted Average Grant Date Fair Value/Share
Weighted average grant date fair value, nonvested, beginning balance (in dollars per share) | $ / shares	$ 6.82
Weighted average grant date fair value, granted (in dollars per share) | $ / shares	21.39
Weighted average grant date fair value, vested (in dollars per share) | $ / shares	12.63
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares	8.98
Weighted average grant date fair value, nonvested, ending balance (in dollars per share) | $ / shares	$ 6.88

Share-Based Compensation (RSU A

Share-Based Compensation (RSU Activity) (Details) shares in Thousands	3 Months Ended
	Dec. 31, 2022 $ / shares shares
Shares
Forfeited | shares	0
Options exercisable (shares) | shares	3,154
Weighted Average Grant Date Fair Value/Share
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares	$ 8.98
Weighted average exercise price, options vested and expected to vest (in dollars per share) | $ / shares	$ 14.76
Restricted Stock Units (RSUs)
Shares
Outstanding at beginning of the period (shares) | shares	980
Granted | shares	290
Vested in period (shares) | shares	(33)
Forfeited | shares	19
Outstanding at beginning of the period | shares	1,218
Options exercisable (shares) | shares	1,181
Weighted Average Grant Date Fair Value/Share
Weighted average grant date fair value, nonvested, equity instruments other than options, beginning of the period (in dollar per share) | $ / shares	$ 30.18
Weighted average grant date fair value, granted (in dollars per share) | $ / shares	42.32
Weighted average grant date fair value, vested (in dollars per share) | $ / shares	44.60
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares	41.34
Weighted average grant date fair value, nonvested, equity instruments other than options, end of the period (in dollar per share) | $ / shares	32.51
Weighted average exercise price, options vested and expected to vest (in dollars per share) | $ / shares	$ 32.26
Special RSU
Shares
Outstanding at beginning of the period (shares) | shares	592
Granted | shares	154
Forfeited | shares	2
Outstanding at beginning of the period | shares	744
Options exercisable (shares) | shares	697
Weighted Average Grant Date Fair Value/Share
Weighted average grant date fair value, nonvested, equity instruments other than options, beginning of the period (in dollar per share) | $ / shares	$ 23.36
Weighted average grant date fair value, granted (in dollars per share) | $ / shares	43.46
Weighted average grant date fair value, forfeited (in dollars per share) | $ / shares	42.45
Weighted average grant date fair value, nonvested, equity instruments other than options, end of the period (in dollar per share) | $ / shares	27.48
Weighted average exercise price, options vested and expected to vest (in dollars per share) | $ / shares	$ 27.23

Concentration of Credit Risk (D

Concentration of Credit Risk (Details)	Dec. 31, 2022 country
Risks and Uncertainties [Abstract]
Number of countries in which entity operates	9

Commitments and Contingencies_2

Commitments and Contingencies (Schedule of Letters of Credit and Surety Bonds) (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Other Commitments [Line Items]
Revolving credit capacity	$ 60,000	$ 60,000
Remaining revolving credit capacity	51,240	50,683
Payments for Legal Settlements, Expected	8,500
Surety Bond
Other Commitments [Line Items]
Surety capacity	262,135	261,959
Surety issuances	136,862	134,037
Remaining surety available	$ 125,273	127,922
Minimum | Surety Bond
Other Commitments [Line Items]
Letter of Credit, Guarantee, Bond Commitments, Expiration Period	12 months
Maximum | Surety Bond
Other Commitments [Line Items]
Letter of Credit, Guarantee, Bond Commitments, Expiration Period	10 years
Letter of Credit
Other Commitments [Line Items]
Outstanding letters of credit		$ 9,317
Debt Instrument, Maturity Date	Mar. 20, 2030

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Payables and Accruals [Abstract]
Salaries, wages, and other benefits	$ 52,373	$ 83,618
Obligation under operating leases	15,527	14,932
Obligation under finance leases	12,917	12,875
Provisions for litigation	12,709	2,375
Deferred revenue	9,760	9,692
Third party commissions	9,615	10,341
Taxes, other than income	5,833	5,594
Insurance liabilities	3,958	3,456
Severance payments	1,162	658
Fair value of liability derivatives	567	1,511
Other	32,425	33,220
Accrued expenses and other liabilities	$ 156,846	$ 178,272
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other liabilities	Accrued expenses and other liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other liabilities

Business Segments (Details)

Business Segments (Details) $ in Thousands		3 Months Ended
	Oct. 29, 2018 segment	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Sep. 30, 2022 USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment	3	2
Segment Reporting Information [Line Items]
Total revenue		$ 435,846	$ 366,268
Operating profit (loss)		23,232	14,288
Interest expense		(10,074)	(6,579)
Income before income taxes		13,158	7,709
Income tax (expense) benefit		(3,890)	(1,621)
Net income		9,268	6,088
Assets		2,207,357		$ 2,190,863
Integrated Solutions and Services
Segment Reporting Information [Line Items]
Revenue from product sales and services		305,426
Applied Product Technologies
Segment Reporting Information [Line Items]
Revenue from product sales and services		130,420
Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenue from product sales and services		25,756	29,805
Intersegment Eliminations | Integrated Solutions and Services
Segment Reporting Information [Line Items]
Revenue from product sales and services		5,838	8,530
Intersegment Eliminations | Applied Product Technologies
Segment Reporting Information [Line Items]
Revenue from product sales and services		19,918	21,275
Operating Segments
Segment Reporting Information [Line Items]
Total revenue		461,602	396,073
Operating Segments | Integrated Solutions and Services
Segment Reporting Information [Line Items]
Total revenue		311,264	253,576
Revenue from product sales and services		305,426	245,046
Operating profit (loss)		42,708	35,300
Assets		1,178,127		1,123,166
Operating Segments | Applied Product Technologies
Segment Reporting Information [Line Items]
Total revenue		150,338	142,497
Revenue from product sales and services		130,420	121,222
Operating profit (loss)		21,015	17,827
Assets		671,396		653,244
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating profit (loss)		(40,491)	$ (38,839)
Assets		$ 357,834		$ 414,453

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Numerator for basic and diluted earnings per common share—Net income attributable to Evoqua Water Technologies Corp.	$ 9,268	$ 5,987
Denominator:
Denominator for basic net income per common share—weighted average shares	121,848	120,632
Effect of dilutive securities:
Share‑based compensation	3,446	4,315
Denominator for diluted net income per common share—adjusted weighted average shares	125,294	124,947
Basic income per common share	$ 0.08	$ 0.05
Diluted income per common share	$ 0.07	$ 0.05