Xylem beats quarterly estimates on strength in water infrastructure unit

Xylem

06/02/2024 13:13

Feb 6 (Reuters) - Xylem  XYL.N  on Tuesday reported
better-than-expected profit and revenue for the fourth quarter
and forecast full-year adjusted earnings largely above
estimates, driven by strong growth in its water infrastructure
segment.
    Xylem, which provides water and waste-water treatment
services, said its revenue came in at $2.12 billion for the
quarter, beating analysts' estimates of $2.05 billion.
    Water infrastructure sales for the quarter were $871
million, compared to analysts' estimates of $834.26 million,
according to LSEG data.
    The segment benefited from effective price realization and
high order volumes, the company said.
    Sales in the new integrated solutions and services segment
were $322 million. Analysts had expected sales of $317.4
million. The unit includes Evoqua's wastewater management
business, which Xylem acquired for $7.5 billion last year.
    Excluding one-off items, profit for the quarter ended Dec.
31 came in at 99 cents per share, beating expectations by 3
cents.
    For the full year, the company forecast an adjusted profit
in the range of $4.00 to $4.20 per share. Analysts were
expecting $4.07.

 (Reporting by Khushi Mandowara in Bengaluru; Editing by Maju
Samuel)
 ((Khushi.Mandowara@thomsonreuters.com;))