Xylem sees positive earnings, revenue, and order growth in third quarter
Global water technology company Xylem Inc. reported strong figures for the third quarter of 2017 this week. The company said that adjusted net income had risen by 20% from the same quarter in the previous year to $119 million, or $0.65 per share. Revenue for the quarter, which came in at $1.2 billion, rose by even more at +33% year on year. This figure includes the company’s Sensus business, which it acquired at the end of last year. The company also said it saw organic growth across all of its segments.
Xylem’s share price has risen by 34% year to date
SOURCE: Yahoo Finance
Patrick Decker, Xylem’s president and CEO, said: “Our teams continued to execute well, delivering strong results across all business segments in the third quarter.
“As conditions in our varied end markets continued to improve, we generated solid growth and, in some cases, captured share, expanding the reach of Xylem solutions. We delivered positive organic growth in each of our geographic regions, while continuing to deliver on our productivity initiatives.
“We’ve been building momentum in our business over the past several quarters, which is reflected in our robust six-percent orders growth in the third quarter. That, combined with continued solid market execution, positions us well for strong revenue growth and margin expansion in the fourth quarter and into 2018.”
October has seen powerful reminders of the importance of businesses like Xylem, as global warming figures have been shown hitting alarming new rates. Xylem’s products, which offer pumping for flooded areas as well as water desalinization, recycling, and reuse for areas hit by drought, will become more important in this new world. As such, the businesses continued success is a boon for investors, but also for the planet.
Dominion holds Xylem Inc. in its Global Trends Managed Fund.
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