Xylem Posts Q2 EPS Beat on Shy Revenues

Xylem reported financial results for Q2, with better-than-expected earnings and shy revenues; it also raised its guidance for fiscal 2017 in line to above Street estimates. The water technology company posted adjusted earnings of $0.59 per share, compared with the prior-year period’s $0.48 per share. Analysts polled by Capital IQ were expecting EPS of $0.57.

Revenue was $1.16 billion, up from $932 million in the same quarter last year. The Street view was for revenue of $1.17 billion. The company increases its full-year 2017 forecast for adjusted earnings per share to $2.30 – $2.40, from the prior range of $2.23 – $2.38 EPS. The Street view is for EPS of $2.31 It now sees FY17 revenue of $4.65 billion – $4.70 billion, versus the forecasts for $4.6 billion. The previous guidance was for revenue of $4.5 billion – $4.6 billion.

By Celina Yao