Xylem, pump manufacturer and global water technology company reported $1.317 billion in revenue for the second quarter, compared to $1.164 billion in the second quarter a year ago, a 13.1-percent increase. For the first six months, Xylem posted $2.534 billion in revenue, compared to $2.235 billion a year ago, a 13.4-percent leap.
Revenue for the second quarter increased 8 percent on an organic basis, driven by double-digit growth in utilities and continued strength in the industrial and commercial end markets across nearly all major geographies. Orders increased 8 percent organically in the quarter. Adjusted EBITDA margin improved by 70 basis points year over year to 19.3 percent driven by volume leverage and savings from productivity initiatives.
“Our second quarter results were very strong as our team continued to successfully execute on our strategy to generate consistent, profitable growth,” said Patrick Decker, president and CEO of Xylem. “Once again, we delivered high single-digit organic growth in revenue and orders globally, reflecting solid growth in each of the major geographic markets in which we operate. We are capturing share in the utilities end market where strong orders and backlog growth reflect continued momentum. As we indicated previously, we began implementing price increases earlier this year and I’m pleased with the traction we’ve gained in the marketplace.”
Xylem now forecasts full-year 2018 revenue of about $5.2 billion, up more than 10 percent compared to 2017, including growth from previously announced acquisitions. On an organic basis, Xylem now anticipates revenue growth in the range of 6 to 7 percent.
