Higher restructuring, realignment and acquisition-related costs are said to have contributed to
The global water technology firm, whose product line-up includes high quality quarry dewatering pumps, saw its third quarter 2016 revenue drop 1% to $897 million, down 1% from Q3 2015. Robust growth in the public utility end market was said by Xylem to be offset by weaker conditions in the industrial sector. The company’s reported operating margin in the quarter was down 110 basis points to 12.2%.
Xylem continued to implement its capital deployment strategy during Q3 2016, successfully completing the Sensus acquisition on 31 October, and acquiring Singapore-based
Commenting on the trading figures, Patrick Decker, Xylem President and CEO, said: “I am pleased with our team’s performance this quarter as they executed well in a mixed marked environment, while also successfully advancing our capital deployment strategy.”
Xylem has increased its forecast of full-year 2016 revenue to around $3.8 billion, including approximately 5% growth from completed acquisitions and the unfavourable impacts of foreign exchange. On an organic basis, Xylem’s revenue growth is now forecasted to be 1.5%.
