Xylem reports increased revenues
By Joe Malone03 May 2017
Pump manufacturer Xylem has reported first-quarter revenues of US$1.1 billion (€1.01 billion), representing a year-on-year rise of 26%.
The company said its acquisition of Sensus had a positive impact on its revenues increase.
Adjusted net income for Xylem was up 11% year-on-year, to US$71 million (€65.02 million), or US$0.39 (€0.36) per share.
Patrick Decker, president and CEO, Xylem, said, “Our performance in the first quarter was slightly better than our expectations overall.
“There were a number of encouraging signs of growing strength in our most important end markets and geographies. First, our Sensus business delivered strong top-line growth. Second, we continued to see positive leading indicators in the public utility sector with orders growth of 3%, driven by an 8% increase in treatment orders.”
Mr Decker said this further bolstered the confidence in the longer-term health of this sector. He added that the company was pleased to see momentum continuing to build in key emerging markets, where its orders were up 14% in the quarter.
Xylem said it expected to record revenues of between US$4.5 billion (€4.12 billion) to US$4.6 billion (€4.21 billion) for 2017, which would be an increase of between 20 and 22%.