Xylem Inc., a Rye Brook-based water systems manufacturer, announced third-quarter adjusted earnings were better than analysts”™ estimates.
The company reported adjusted earnings per share of 53 cents for the three-month period ending Sept. 30, a penny better than the average 52-cent estimate of analysts surveyed by Zacks Investment Research. Xylem”™s revenue for the third quarter was $963 million, falling under the Zacks average estimate of $981.1 million.
In a press release announcing the results, Xylem narrowed its earnings-per-share guidance to $1.92 to $1.98, reflecting a 15 to 19 percent increase from its 2013 results.
The company expects its full-year 2014 adjusted net income to be between $355 million and $365 million, and revenue is expected to be approximately $4 billion, up 2 percent from 2013. Xylem anticipates restructuring and realignment costs of $40 million to $50 million in 2014.
