Xylem’s Revenue Jumps 11.4 Percent for First Nine Months of 2018
Global water technology company and pump manufacturer and rental company Xylem Inc. posted $1.287 billion in third quarter 2018 revenue, up 7.7 percent year over year excluding the impact of foreign exchange and acquisitions. Revenue for the quarter increased 8 percent on an organic basis, driven by continued strong growth in all end markets and across all major geographies. Orders also increased 8 percent organically for the second consecutive quarter.
For the first nine months of 2018, Xylem posted revenue of $3.821 billion compared to $3.430 billion in the first nine months of 2017, an 11.4-percent jump.
Adjusted EBITDA margin improved by 110 basis points year over year to 20.3 percent driven by volume leverage, savings from productivity initiatives, and price realization. Reported operating margin in the quarter was 13.7 percent and adjusted operating margin increased 50 basis points year over year to 14.6 percent.
“Our team delivered another quarter of strong results, positioning us well to meet our long-term growth and financial commitments,” said Patrick Decker, Xylem president and CEO. “The organic growth we delivered in revenue and orders reflects strong performance in each of our major geographies and across all end markets. We see momentum strengthening in our ongoing efforts to drive commercial excellent and leverage our expanded portfolio, which are yielding more wins and share gains.”
Xylem continues to forecast full-year 2018 revenue of about $5.2 billion, up approximately 10 percent compared to 2017, including growth from previously announced acquisitions. On an organic basis, Xylem now anticipates revenue growth in the range of 7 to 8 percent.
