Shares of Companhia de Saneamento Basico do Estado de Sao Paulo, commonly known as Sabesp (SBS), are soaring 5.02% in intraday trading on Tuesday. The surge comes on the heels of the company's impressive fourth-quarter and full-year 2024 financial results released after market close on Monday.

The São Paulo-based waste management company reported robust fourth-quarter earnings of $245.6 million, or 36 cents per share. Adjusted for non-recurring costs, earnings stood at 49 cents per share. Revenue for the quarter reached $1.34 billion. These strong quarterly results capped off a successful year for Sabesp, with the company posting a full-year profit of $1.78 billion, or $2.60 per share, on revenue of $6.7 billion.

Investors appear to be reacting positively to Sabesp's financial performance, which demonstrates the company's ability to generate substantial profits in the challenging waste management sector. The strong earnings report suggests that Sabesp's operations are efficient and that the company is well-positioned in its market. As a result, the stock is seeing significant buying interest, driving the share price up by over 5% as traders and investors reassess the company's value in light of these encouraging financial metrics.