Why Water Technology Company Xylem Shares Are Seeing Blue Skies Today
Portfolio Pulse from Lekha Gupta
Xylem Inc (NYSE:XYL) shares rose after reporting Q4 FY23 results with a 41% Y/Y revenue increase to $2.12 billion, surpassing the $2.05 billion consensus. Orders and backlog also saw significant growth. Adjusted EPS of $0.99 beat the $0.96 consensus, with adjusted EBITDA margin expanding to 19.6%. The company provided an optimistic FY24 outlook, expecting adjusted EPS of $4.00-$4.20 and revenue of $8.4 billion-$8.5 billion. XYL shares are up 3.65% to $118.24.
February 06, 2024 | 4:47 pm
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POSITIVE IMPACT
Xylem Inc reported strong Q4 FY23 results with significant revenue growth and a positive FY24 outlook, leading to a 3.65% increase in share price to $118.24.
Xylem Inc's Q4 FY23 performance exceeded expectations with a notable increase in revenue, orders, and backlog. The adjusted EPS also surpassed consensus estimates. The company's optimistic FY24 outlook, including expected revenue and adjusted EPS, likely contributed to the positive investor sentiment, resulting in a 3.65% increase in share price. The detailed financial results and future guidance indicate a strong position and growth potential, influencing the stock's short-term positive movement.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100