Water Technology Company Xylem Records Solid Q3 Amid Intensifying Water Challenges; Revenue Soars 50.4%
Portfolio Pulse from Akanksha Bakshi
Water technology company Xylem Inc. reported a 50.4% YoY increase in Q3 FY23 revenue to $2.08 billion, beating the consensus of $1.99 billion. Adjusted EPS was $0.99, also beating the consensus of $0.89. The company raised its FY23 outlook, now expecting revenue of approximately $7.3 billion, up ~11% on an organic basis, and adjusted EPS of $3.71-$3.73. Following the announcement, XYL shares are trading higher by 3.90% to $92.75.
October 31, 2023 | 4:30 pm
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Xylem Inc. reported strong Q3 results, beating revenue and EPS consensus. The company also raised its FY23 outlook, leading to a 3.90% increase in its stock price.
Xylem Inc. reported strong Q3 results, with revenue and EPS both beating consensus estimates. This positive earnings report, coupled with an increased FY23 outlook, has led to increased investor confidence, reflected in the 3.90% increase in the company's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100