Xylem reports 3Q 2016 earnings.
BANKING AND CREDIT NEWS-November 4, 2016-Xylem reports 3Q 2016 earnings
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Rye Brook, New York-based Xylem Inc. (NYSE: XYL) has reported third quarter 2016 net income of USD73 million, or USD0.41 per share, a decrease of 15 percent year-over-year reflecting higher restructuring, realignment and acquisition-related costs, the company said.
Adjusted net income in the quarter was USD97 million or USD0.54 per share, a 10-percent increase over the prior year period. Third quarter revenue was USD897 million, which was down one percent from third quarter 2015 and flat organically.
The robust revenue growth in the public utility end market was offset by weaker conditions in the industrial sector. Reported operating margin in the quarter declined 110 basis points to 12.2 percent. On an adjusted basis, operating margin grew 90 basis points to 14.6 percent as strong execution on productivity initiatives more than offset inflation and targeted investments in strategic growth initiatives.
Xylem is a global water technology company whose products and services move, treat, analyze, monitor, and return water to the environment in public utility, industrial, residential, and commercial building services, and agricultural settings. The company's nearly 16,000 employees bring broad applications expertise with a strong focus on identifying comprehensive, sustainable solutions. Xylem does business in more than 150 countries through a number of market-leading product brands.
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|Publication:||M2 Banking & Credit News (BCN)|
|Article Type:||Financial report|
|Date:||Nov 4, 2016|
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