Xylem's Water Wisdom Pays Off: Q2 Beats Estimates, Outlook Upgraded
Portfolio Pulse from Lekha Gupta
Xylem Inc. (NYSE:XYL) reported strong Q2 FY24 results, beating revenue and EPS estimates. Despite this, shares are trading lower. The company raised its FY24 EPS outlook and revised its revenue outlook. Investors can gain exposure via Global X Clean Water ETF (NASDAQ:AQWA) and Invesco S&P Global Water Index ETF (NYSE:CGW).
July 30, 2024 | 2:20 pm
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POSITIVE IMPACT
Global X Clean Water ETF (NASDAQ:AQWA) provides exposure to Xylem Inc., which reported strong Q2 results and raised its FY24 outlook. This could positively impact AQWA's performance.
AQWA holds Xylem Inc., which reported strong Q2 results and raised its FY24 outlook. This positive performance of Xylem could benefit AQWA's overall performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Invesco S&P Global Water Index ETF (NYSE:CGW) includes Xylem Inc., which reported strong Q2 results and raised its FY24 outlook. This could positively impact CGW's performance.
CGW holds Xylem Inc., which reported strong Q2 results and raised its FY24 outlook. This positive performance of Xylem could benefit CGW's overall performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Xylem Inc. reported strong Q2 FY24 results, beating revenue and EPS estimates. The company raised its FY24 EPS outlook and revised its revenue outlook. Despite positive results, shares are down 3%.
Xylem's strong Q2 results and raised FY24 outlook indicate positive performance. However, the 3% drop in share price suggests market concerns or profit-taking. The overall impact is likely positive in the short term due to strong fundamentals.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100