Xylem Inc Reports Third Quarter Financial Results

XYL.N

2024-10-312mins

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Key Financial Metrics Key Developments and Operational Highlights Comments from Leadership Forward Guidance Stock Price Movement

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Xylem Inc. Reports Third Quarter Financial Results

Xylem Inc. (NYSE: XYL), a leading global water technology company, has released its financial results for the third quarter. The company reported total revenue of $2.1 billion, marking a 1% increase on both a reported and organic basis.

Key Financial Metrics

Metric	Q3 2023	YoY Change	Consensus Estimate
Total Revenue	$2.1B	+1%	$2.17B
Earnings Per Share (EPS)	$0.89	+41%	$1.11 (Adjusted)
Adjusted EPS	$1.11	+12%	-

Despite slightly missing the revenue consensus estimate of $2.17 billion, Xylem delivered a strong 41% increase in earnings per share, reaching $0.89 on a reported basis. Adjusted EPS stood at $1.11, achieving the consensus expectations.

Key Developments and Operational Highlights

Orders increased by 8% on both a reported and organic basis.
The Evoqua integration is progressing ahead of schedule.
The company's simplification efforts have begun delivering initial impacts on the financial results.

Comments from Leadership

Xylem’s President and CEO, Matthew Pine, remarked on the quarter's strong performance, highlighting robust demand and orders growth across all segments. The successful integration with Evoqua and the synergy capture are proceeding well, instilling confidence for closing the year above targets.

Forward Guidance

Xylem updated its full-year 2024 revenue guidance to approximately $8.5 billion, a 15% increase on a reported basis with organic revenue growth expected at around 5%. The company also narrowed its full-year adjusted EPS guidance to $4.22 to $4.24, from the previous range of $4.18 to $4.28.

Stock Price Movement

Following the earnings release, Xylem's stock experienced a slight increase of approximately 0.25%.

In summary, Xylem Inc. achieved notable growth in EPS and continued to demonstrate the resilience of its business model as it further strengthens its integration and operational efficiencies. The firm maintains positive financial momentum with increased guidance for the full year, underscoring its confident outlook in navigating market challenges.

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