Xylem Q2 Results Beat Street; Lifts Full-year Guidance

(RTTNews) - Xylem Inc. (XYL), a water technology company, Tuesday reported significantly higher profit in the second quarter compared with last year, primarily driven by growth in revenue. Earnings as well as revenue beat analysts' view. The company also raised its full-year outlook.

Net income was $194 million or $0.80 per share for the second quarter, significantly higher than $92 million or $0.45 per share in the same quarter a year ago.

Excluding one-time items, earnings of $266 million, or $1.09 per share beat the analysts' average estimate of $1.05 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $2.169 billion from $1.722 billion in the previous year. The consensus estimate was for $2.14 billion.

Xylem now expects full-year revenue to be about $8.55 billion, up nearly 16 percent from last year. It was previously expecting 15 percent to 16 percent growth in revenue.

Adjusted EPS guidance has been raised to the range of $4.18 to $4.28 from $4.10 to $4.25.

Analysts expect the company to report earnings of $4.21 per share on revenue of $8.56 billion for the year.