WASHINGTON (dpa-AFX) - Water solutions company Xylem, Inc. (XYL) on Tuesday reported net income attributable to Xylem of $169 million or $0.69 per share for the first quarter, higher than $153 million or $0.63 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter was $1.03 per share, compared to $0.90 per share in the year-ago quarter.
Total revenues for the quarter grew 2 percent to $2.07 billion from $2.03 billion in the same quarter last year. It increased 3 percent on an organic basis.
On average, 14 analysts polled expected the company to report earnings of $1.13 per share on revenues of $2.19 billion for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal 2025, the company continues to project adjusted earnings in the range of $4.50 to $4.70 per share, but raised revenues guidance to between $8.7 billion and $8.8 billion, up from the prior forecast between $8.6 billion and $8.7 billion. Revenues are still expected to grow 3 to 4 percent on an organic basis.
The Street is looking for earnings of $4.63 per share on revenues of $8.74 billion for the year.
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