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Calgon Carbon Signs Water Treatment Contract Worth $13.2M
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Calgon Carbon Corporation has signed a system supply contract worth $13.2 million with California Water Service (“Cal Water”), through which the company will provide granular activated carbon (GAC) and associated equipment systems to treat over 30 drinking water wells contaminated by 1,2,3-Trichloropropane (1,2,3-TCP). The contract, starting in 2017, is helmed to be the largest drinking water-related carbon adsorption equipment project in the company’s history.
As per the terms, Calgon Carbon will supply 104 GAC adsorption vessels and more than 2 million pounds of Filtrasorb 400 GAC to treat more than 40 million gallons of water per day at 38 Cal Water well sites. The GAC adsorption equipment will be installed in phases, with all equipment expected to be in service by Jun 2018.
Calgon Carbon is known for providing hundreds of GAC adsorption systems over the last 30 years to numerous water providers. GAC helps in removing 1,2,3-TCP from water through adsorption.
Calgon Carbon has underperformed the Zacks categorized Pollution Control industry in the past six months. The company’s shares have declined around 5.8%, compared with roughly 10% gain recorded by the industry.
The company posted weaker-than-expected earnings in the trailing four quarters. Further, it is grappling with currency headwinds. A strong U.S. dollar hurt the company’s results in 2016. Currency swings had a $2.8 million net unfavorable impact on full-year 2016 sales. Unfavorable currency translation also had a $1.4 million negative impact on the top line in fourth-quarter 2016. The company sees an unfavorable impact of around $2 million for first-quarter 2017.
Calgon Carbon’s industrial end-markets are expected to remain sluggish in the near term. Market conditions for industrial waste water applications also remain weak. Market uncertainties are expected to sustain in the near term.
The company’s Equipment division also continues to see lower sales of ballast water treatment system (BWTS). BWTS sales are expected to remain under pressure in the short term.
Casella Waste Systems has a year-over-year earnings growth estimate of 60% and also carries a Zacks Rank #1.
Komatsu has an expected long term growth of 6.2% and carries a Zacks Rank #2 (Buy).
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Calgon Carbon Signs Water Treatment Contract Worth $13.2M
Calgon Carbon Corporation has signed a system supply contract worth $13.2 million with California Water Service (“Cal Water”), through which the company will provide granular activated carbon (GAC) and associated equipment systems to treat over 30 drinking water wells contaminated by 1,2,3-Trichloropropane (1,2,3-TCP). The contract, starting in 2017, is helmed to be the largest drinking water-related carbon adsorption equipment project in the company’s history.
As per the terms, Calgon Carbon will supply 104 GAC adsorption vessels and more than 2 million pounds of Filtrasorb 400 GAC to treat more than 40 million gallons of water per day at 38 Cal Water well sites. The GAC adsorption equipment will be installed in phases, with all equipment expected to be in service by Jun 2018.
Calgon Carbon is known for providing hundreds of GAC adsorption systems over the last 30 years to numerous water providers. GAC helps in removing 1,2,3-TCP from water through adsorption.
Calgon Carbon has underperformed the Zacks categorized Pollution Control industry in the past six months. The company’s shares have declined around 5.8%, compared with roughly 10% gain recorded by the industry.
The company posted weaker-than-expected earnings in the trailing four quarters. Further, it is grappling with currency headwinds. A strong U.S. dollar hurt the company’s results in 2016. Currency swings had a $2.8 million net unfavorable impact on full-year 2016 sales. Unfavorable currency translation also had a $1.4 million negative impact on the top line in fourth-quarter 2016. The company sees an unfavorable impact of around $2 million for first-quarter 2017.
Calgon Carbon’s industrial end-markets are expected to remain sluggish in the near term. Market conditions for industrial waste water applications also remain weak. Market uncertainties are expected to sustain in the near term.
The company’s Equipment division also continues to see lower sales of ballast water treatment system (BWTS). BWTS sales are expected to remain under pressure in the short term.
Calgon Carbon Corporation Price and Consensus
Calgon Carbon Corporation Price and Consensus | Calgon Carbon Corporation Quote
Calgon Carbon carries a Zacks Rank #5 (Strong Sell).
Stocks to Consider
Better-ranked companies in the industrial products space include Acco Brands Corporation (ACCO - Free Report) , Casella Waste Systems, Inc. (CWST - Free Report) and Komatsu Ltd. (KMTUY - Free Report) .
Acco Brands has an expected long-term growth of 10% and carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Casella Waste Systems has a year-over-year earnings growth estimate of 60% and also carries a Zacks Rank #1.
Komatsu has an expected long term growth of 6.2% and carries a Zacks Rank #2 (Buy).
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>