Global water technology and pump manufacturer and rental company Xylem posted $1.1 billion in first quarter 2017 revenue, a 26-percent year-over-year increase including the impact of acquisitions. Reported and adjusted EBITDA jumped 80 and 100 basis points, respectively. Adjusted net income for the quarter was $71 million, an 11-percent leap compared to the first quarter of 2016.
Xylem’s forma organic revenue, including Sensus, grew 1 percent in the quarter, reflecting the 7-percent year-over-year increase in the Sensus business, as well as growth in the residential and commercial end markets. This growth was partially offset by a decline in the public utility end market in Xylem’s Water Infrastructure segment.
“Our performance in the first quarter was slightly better than our expectations overall,” said Patrick Decker, president and CEO of Xylem. “There were a number of encouraging signs of growing strength in our most important end market geographies… And we were pleased to see momentum continuing to build in key emerging markets, where our orders were up 14 percent in the quarter. These results underpin our outlook for solid growth this year.”
Xylem continues to forecast full-year 2017 revenue in the range of $4.5 billion to $4.6 billion, up 20 to 22 percent, including growth from previously announced acquisitions and projected unfavorable impacts of foreign exchange translation.
