Water Company Xylem Results Offset U.S. Dollar Strength
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The water technology provider Xylem Inc. reported adjusted first-quarter revenue of $837 million and lowered full-year earnings per share guidance to $1.80-$1.90 from $1.85-$1.95 due to the strength of the U.S. dollar.
Shares of Rye Brook, New York-based Xylem, whose market value is $6.7 billion, have risen the past four days and are now almost unchanged over the past year. Spun off from ITT Corp., its pumps helped clean New York tunnels of Hurricane Sandy floodwaters.