Xylem Q1 Profit Increases On Higher Revenue; Ups Full-year Outlook

(RTTNews) - Water technology company Xylem Inc. (XYL) Thursday reported higher profit in the first quarter, helped by rise in revenue. The company's earnings as well as revenue beat analysts' view. Xylem also raised its full-year outlook.

Profit was $99 million or $0.54 per share for the first quarter, higher than $82 million or $0.45 per share in the same quarter a year ago.

Excluding items, earnings were $130 million or $0.72 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.62 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter increased to $1.448 billion from $1.272 billion last year. The consensus estimate was for $1.34 billion.

Looking forward, Xylem has raised its full-year outlook.

The company now sees full-year earnings per share in the range of $3.15 - $3.35, up from the prior guidance of $3.00 - $3.25. Analysts expect a profit of $3.22 per share for the year.

Xylem now expects full-year revenue growth of 8%-9%, an increase from the previous guidance 3%-5%. The Street expects revenue to grow 4.7%.