Xylem gains on lifting annual forecast, beating Q2 estimates

Xylem

02/08/2023 17:10

** Shares of water tech co Xylem Inc  XYL.N  up 2.3% at
$114.5 
    ** Expects annual revenue of about $7.2 bln, topping
analysts' estimates of $6.9 bln - Refinitiv
    ** XYL lifts annual profit forecast to $3.50/shr-$3.70/shr
from prior range of $3.15/shr-$3.35/shr
    ** Co raises annual forecast to reflect combination with
Evoqua
    ** Reports Q2 profit of $0.98/shr, above estimates of
$0.80/shr
    ** Q2 revenue of $1.7 bln also beat expectations of $1.6
bln, driven by strong demand in its applied water and water
infrastructure segments
    ** Stock up 3.5% YTD

 (Reporting by Anandita Mehrotra in Bengaluru)
 ((Anandita.Mehrotra@thomsonreuters.com))