(Reuters) – Xylem on Tuesday reported better-than-expected profit and revenue for the fourth quarter and forecast full-year adjusted earnings largely above estimates, driven by strong growth in its water infrastructure segment.
Xylem, which provides water and waste-water treatment services, said its revenue came in at $2.12 billion for the quarter, beating analysts’ estimates of $2.05 billion.
Water infrastructure sales for the quarter were $871 million, compared to analysts’ estimates of $834.26 million, according to LSEG data.
The segment benefited from effective price realization and high order volumes, the company said.
Sales in the new integrated solutions and services segment were $322 million. Analysts had expected sales of $317.4 million. The unit includes Evoqua’s wastewater management business, which Xylem acquired for $7.5 billion last year.
Excluding one-off items, profit for the quarter ended Dec. 31 came in at 99 cents per share, beating expectations by 3 cents.
For the full year, the company forecast an adjusted profit in the range of $4.00 to $4.20 per share. Analysts were expecting $4.07.
(Reporting by Khushi Mandowara in Bengaluru; Editing by Maju Samuel)
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