WASHINGTON (AP) — WASHINGTON (AP) — Xylem Inc. (XYL) on Tuesday reported first-quarter net income of $193 million.
On a per-share basis, the Washington-based company said it had profit of 79 cents. Earnings, adjusted for non-recurring costs, came to $1.12 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The water and wastewater treatment company posted revenue of $2.13 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $2.11 billion.
Xylem expects full-year earnings in the range of $5.35 to $5.60 per share, with revenue in the range of $9.2 billion to $9.3 billion.
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