WASHINGTON (dpa-AFX) - (Adds Outlook)
Xylem Inc. (XYL) narrowed its full-year earnings guidance below analysts' forecast. The company now expects adjusted income per share of $4.22 to $4.24, compared with its previous outlook of $4.18 to $4.28 per share.
Analysts, on average, forecast the firm to post earnings of $4.26 per share, for the year.
Xylem also projects annual revenue of $8.5 billion, lower than analysts' estimate of $8.58 billion, for the year.
Q3 Results:
Xylem announced earnings for its third quarter that increased from last year in line with the Street estimates.
The company's earnings came in at $217 million, or $0.89 per share. This compares with $152 million, or $0.63 per share, in last year's third quarter.
Excluding items, Xylem Inc. reported adjusted earnings of $269 million or $1.11 per share for the period.
Analysts on average had expected the company to earn $1.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 1.3% to $2.104 billion from $2.076 billion last year.
Xylem Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $217 Mln. vs. $152 Mln. last year. -EPS (Q3): $0.89 vs. $0.63 last year. -Revenue (Q3): $2.104 Bln vs. $2.076 Bln last year.
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