Xylem Q1 Profit Misses Estimates; Organic Revenue Down 8%

(RTTNews) - Xylem Inc. (XYL) reported first quarter adjusted earnings per share of $0.23 compared to $0.52, a year ago. At constant currency, adjusted earnings per share was $0.25, for the quarter. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.37, for the quarter. Analysts' estimates typically exclude special items.

First quarter revenue was $1.12 billion, down 9 percent on a reported basis and 8 percent organically, largely driven by the impact of COVID-19, which the company estimates to have been approximately 5 percent. Orders were down 4 percent on a reported basis and 2 percent, organically, and were net positive excluding estimated impacts of COVID-19. Analysts expected revenue of $1.15 billion for the quarter.