Global water technology company Xylem reported second quarter revenue of $1.4 billion (€1.37 billion).
The company said strong continued global demand drove orders and backlog growth across the portfolio.
Second quarter adjusted earnings before interest, tax, depreciation and amortization (EBITDA) margin was 16.6% better than the Company’s previous guidance and reflecting a year-over-year decrease of 70 basis points.
Inflation and the impact of continuing chip shortages drove the margin decline, exceeding the benefits of price realisation and productivity savings.
“The team delivered very strong second quarter performance on all key metrics, and well ahead of our guidance for the quarter,” said Patrick Decker, Xylem president and CEO.
“The result reflects our commercial momentum on continuing underlying demand, disciplined operational execution, and a moderate easing in chip supply constraints.”
“On the strength of robust backlog and orders growth, and the team’s demonstrated success mitigating the effects of inflation, we are raising our full-year guidance on revenue and earnings. This further reinforces our longer-term growth and value creation thesis for Xylem.”
POPULAR NEWS STORIES
LATEST VIDEOProco Series 700 ProFlex tm Rubber Check Valves