XYL · Xylem

214 filings

XYL SEC Filings

Xylem - 214 total filings

Filing record · 2016–202610-K1110-Q338-K102

Showing 1–50 of 214 filings

Xylem Quarterly Report for Q3 Ended Sep 30, 2026

Xylem Inc. reported third-quarter 2026 revenue of $2,201 million, a decrease of 3.0% from $2,268 million a year earlier. The filing attributes the decline mainly to $80 million of revenue lost from divestitures, partly offset by $17 million from acquisitions, while organic revenue fell $7 million. Profitability improved: operating income rose to $385 million from $334 million, and net income attributable to Xylem reached $291 million, or $1.25 per diluted share, versus $227 million, or $0.93, a year earlier. Adjusted EBITDA was flat at $527 million. For the nine months, revenue was $6,662 million (up $24 million), operating income was $1,019 million, and diluted EPS was $3.14 compared with $2.55. Orders were $2,331 million in the quarter, up from $2,181 million, and total backlog reached $5,466 million at September 30, 2026, compared with $4,819 million a year earlier. Management updated its 2026 outlook to a decline in total revenue of approximately 1% and flat organic revenue. The balance sheet shifted meaningfully. Total debt rose to $2,895 million from $1,942 million after new senior notes were issued, and the company repurchased shares for $1,580 million in cash during the nine months. Cash fell to $708 million from $1,479 million. The company also agreed to acquire the Cornell Pump and Roper Pump businesses for approximately $1,460 million, expected to close in the fourth quarter of 2026, and completed the WaterFleet and TriOS acquisitions in 2026.

Oct 27, 2026 8-K

Xylem 8-K Report, Financial Results (Oct 27, 2026)

Xylem Inc. (NYSE: XYL) reported third-quarter 2026 results on October 27, 2026, with orders of $2.3 billion, up 7% on a reported basis and 10% organically, and revenue of $2.2 billion, down 3% on a reported basis and flat organically. Reported diluted EPS was $1.25, up 34%, while adjusted EPS was $1.44, up 5%. Net income attributable to Xylem was $291 million, and the adjusted EBITDA margin was 23.9%, up 70 basis points year over year, driven by productivity savings and price realization. Xylem lowered its full-year 2026 outlook. Revenue is now forecast at approximately $8.95 billion, down 1% on a reported basis (previously up 2%), and flat organically (previously up 2 to 3%). Adjusted EPS guidance is $5.40 to $5.45, down from $5.55 to $5.70, and free cash flow margin is expected at approximately 10.2%, versus 10.2% to 11.0% previously. The company also announced its intent to divest Applied Water International and Specialty Flow Control, and to reorganize from four segments into three (Treatment and Services, Flow Solutions, and Measurement and Analytics) beginning January 1, 2027. In a related 8-K item, Hayati Yarkadas, EVP and President of Water Infrastructure, will cease to be an executive officer effective January 1, 2027, as the Water Infrastructure segment is eliminated. He will remain employed through a transition period to lead the planned divestitures, with a $1.2 million special success incentive tied to closing the final divestiture and enhanced equity treatment on involuntary termination.

Oct 27, 2026 8-K

Xylem 8-K Report, Corporate Update (Sep 29, 2026)

On September 29, 2026, Xylem Inc. completed a public offering of $1.5 billion in senior unsecured notes, consisting of three $500 million tranches: 5.250% Senior Notes due 2029, 5.450% Senior Notes due 2032, and 5.850% Senior Notes due 2037. The Company intends to use the net proceeds, together with cash on hand, to finance all or a portion of the purchase price for its previously announced acquisition of the Cornell Pump and Roper Pump businesses, pay associated costs and expenses, and for general corporate purposes. The Notes rank equally with all of Xylem's other unsecured and unsubordinated obligations. Interest on the 2029 Notes is payable semiannually on March 28 and September 28, beginning March 28, 2027, and interest on the 2032 and 2037 Notes is payable semiannually on January 15 and July 15, beginning January 15, 2027. The Indenture includes customary covenants limiting liens on certain property, sale and leaseback transactions above a threshold, and consolidations or mergers, as well as a change-of-control repurchase offer at 101% of principal if a change of control is accompanied or followed by a rating downgrade within a specified period. A key investor protection is the special mandatory redemption feature. If the Acquisition is not consummated by the later of August 10, 2027 and any extended termination date under the equity purchase agreement, if that agreement is terminated, or if the Company notifies the Trustee it will not pursue the Acquisition, the Company must redeem all Notes at 101% of principal plus accrued interest. The Notes were issued under a Form S-3 shelf registration statement (File No. 333-297937) and underwriting agreement dated September 15, 2026, with Citigroup Global Markets Inc. and others as representatives of the underwriters.

Sep 29, 2026 8-K

Xylem 8-K Report, Material Agreement (Sep 9, 2026)

On September 8, 2026, Xylem Inc. entered into a new Five-Year Revolving Credit Facility Agreement (the "2026 Credit Agreement"), a senior unsecured revolving credit facility of up to $1.5 billion, available in U.S. dollars and Euros. The facility is arranged by a syndicate led by Citibank, N.A., BNP Paribas Securities Corp., ING Bank N.V., Dublin Branch, JPMorgan Chase Bank, N.A., and Wells Fargo Securities, LLC, with Citibank as Administrative Agent. The Company may request increases of up to $500 million, for a maximum aggregate principal amount of $2.0 billion, with lender consent. Proceeds are to be used for working capital and other general corporate purposes. No borrowings were outstanding under the facility as of the filing date. In connection with the new agreement, the Company terminated its Five-Year Revolving Credit Facility Agreement dated March 1, 2023 (the "2023 Credit Agreement"), which provided a $1.0 billion senior unsecured revolver with accordion increases of up to $300 million, for a maximum of $1.3 billion. The 2026 facility therefore represents a larger commitment than the facility it replaces, with a maximum potential size of $2.0 billion versus $1.3 billion previously. Key terms of the 2026 Credit Agreement include interest at a Term SOFR or EURIBOR rate plus an applicable margin, or a base rate at the Company's election. Pricing is set by a grid tied to the Company's credit rating, with an adjustment linked to an annual Sustainability Spread Adjustment. The agreement requires a consolidated total debt to consolidated EBITDA ratio, measured over the last four fiscal quarters, and contains customary covenants limiting secured debt, subsidiary debt, liens, sale and lease-back transactions, mergers, and asset sales. The Company may designate subsidiaries as borrowers, subject to conditions.

Sep 9, 2026 8-K

Xylem 8-K Report, Executive Changes (Aug 18, 2026)

Xylem Inc. (NYSE: XYL) disclosed in an 8-K filed August 18, 2026 that Executive Vice President and Chief Financial Officer William K. Grogan will resign effective August 31, 2026 to pursue another professional opportunity. He will remain employed through September 13, 2026 to facilitate an orderly transition. The Board appointed Andrea van der Berg, currently Senior Vice President, Finance of the Water Infrastructure segment, as EVP and CFO effective September 1, 2026. She reports to President and CEO Matthew Pine and joins the Executive Leadership Team. Van der Berg, age 43, previously served as Vice President, Investor Relations (May 2022 to August 2024) and Vice President, Corporate Financial Planning and Analysis (April 2020 to May 2022), and held finance roles at MSCI Inc. and Honeywell International Inc. Her compensation package includes an annual base salary of $675,000, an AIP target of 80% of base salary, and a new LTIP target award of $1,750,000. She will also receive a one-time 2026 LTIP award with a grant date value of $787,500, granted on or about September 1, 2026, split across performance share units (50%), restricted stock units (25%) and stock options (25%). The filing states there are no related person transactions requiring disclosure. In a companion Item 7.01 press release (Exhibit 99.1), Xylem reaffirmed its third-quarter and full-year 2026 guidance, which was originally issued on July 28, 2026. The filing furnishes the release and states it is not deemed filed under Section 18 of the Exchange Act.

Aug 18, 2026 8-K

Xylem 8-K Report, Executive Changes (Aug 13, 2026)

Xylem Inc. (NYSE: XYL) filed an 8-K on August 13, 2026 reporting the appointment of D. Christian Koch to its Board of Directors. The Board increased its size from 9 to 10 directors and filled the new seat with Mr. Koch, effective immediately. The Board also named him to the Leadership Development and Compensation Committee and the Nominating and Governance Committee, effective immediately. The Board determined that Mr. Koch is independent under the Company's Corporate Governance Principles, NYSE listing standards, and SEC rules. Mr. Koch currently serves as Chairman, President and Chief Executive Officer of Carlisle Companies Incorporated, which the press release describes as a supplier of building envelope products with approximately $5 billion in annual revenue. Prior to joining Carlisle in 2008, he held leadership roles at Graco Inc. and H.B. Fuller. The filing states he has more than 30 years of global leadership experience spanning operations, manufacturing, strategy and business transformation. He will receive standard non-employee director compensation, prorated for the current term, as described in the Company's 2026 Proxy Statement filed March 20, 2026. The filing does not report any financial results, guidance, or transactions. Its investor relevance is governance-related: a new independent director with public and private company board experience, added to the board's compensation and nominating committees.

Aug 13, 2026 8-K

Xylem 8-K Report, Financial Results (Jul 28, 2026)

Xylem Inc. (NYSE: XYL) reported second-quarter 2026 results for the quarter ended June 30, 2026, in a press release furnished as Exhibit 99.1 to this Form 8-K. Revenue was $2.3 billion, up 2% on a reported basis and 1% organically, while orders were $3.1 billion, up 42% on a reported basis and 41% organically. Net income attributable to Xylem was $263 million, or $1.11 per share, up 19% per share on a reported basis; adjusted EPS was $1.46, up 16%. Management attributed the results to strong operational performance and lower restructuring and realignment costs, partially offset by higher income tax expense and a loss on sale of businesses. Xylem raised its full-year 2026 adjusted EPS guidance to $5.55 to $5.70, up from $5.35 to $5.60. It now forecasts full-year revenue of approximately $9.2 billion, up approximately 2% on a reported basis (previously 2 to 3%), and organic growth of approximately 2 to 3% (previously 2 to 4%). The adjusted EBITDA margin outlook is 23.1% to 23.5%, and the free cash flow margin outlook is still 10.2% to 11.0%. On the balance sheet, cash and cash equivalents were $1.28 billion at June 30, 2026, and long-term debt rose to $2.40 billion from $1.41 billion at year-end 2025. Treasury stock increased to $2.02 billion from $768 million, reflecting $1.24 billion of common stock repurchases in the first half of 2026. Second-quarter adjusted EBITDA margin was 23.3%, up 150 basis points year over year.

Jul 28, 2026 10-Q

Xylem Quarterly Report for Q2 Ended Jun 30, 2026

Xylem Inc. reported second-quarter 2026 revenue of $2,336 million, up 1.5% from $2,301 million a year earlier, with organic revenue growth of $30 million, or 1.3%. Operating income rose to $390 million from $305 million, and net income attributable to Xylem was $263 million, or $1.11 per diluted share, compared with $226 million, or $0.93, in the prior-year quarter. Gross margin improved to 41.2% from 38.8%. Management cites productivity savings and price realization as drivers of margin expansion, partially offset by inflation. Orders were $3,086 million, up 42.0% from $2,174 million, and total backlog reached $5,315 million at June 30, 2026. Capital allocation was a major theme in the first half of 2026. Xylem repurchased 10.5 million shares for $1,243 million, issued $1.0 billion of senior notes due 2033 and 2036, and paid $207 million in dividends. Cash and cash equivalents fell to $1,276 million from $1,479 million at year-end 2025, and long-term debt rose to $2,395 million from $1,408 million. Free cash flow for the six months was $219 million, compared with $169 million a year earlier. Management updated its 2026 outlook to total revenue growth of approximately 2% and organic revenue growth of 2% to 3%. Acquisition activity continued after quarter-end, with a definitive agreement signed on July 24, 2026 to acquire WaterFleet for approximately $200 million, and the July 1, 2026 closing of TriOS for approximately €190 million ($216 million). The filing also reports a $12 million IEEPA tariff refund receivable recognized in the quarter and a pending Swedish tax matter for which no unrecognized tax benefit has been recorded.

Jul 28, 2026 8-K

Xylem 8-K Report, Material Agreement (May 29, 2026)

Xylem Inc. (XYL) completed a public offering on May 29, 2026 of $1.0 billion in senior unsecured notes, split into two $500 million tranches: 5.200% Senior Notes due June 1, 2033 (the 2033 Notes) and 5.450% Senior Blue Notes due June 1, 2036 (the 2036 Blue Notes). Interest is payable semiannually on June 1 and December 1, beginning December 1, 2026. The notes were issued under a senior indenture dated March 11, 2016, as supplemented, with Deutsche Bank Trust Company Americas as trustee. The notes rank equally with the company's other unsecured and unsubordinated obligations. The company states it intends to use the net proceeds from the 2033 Notes to repay or redeem its $500 million 3.250% Senior Notes maturing November 1, 2026, at or prior to maturity, and for general corporate purposes. Proceeds from the 2036 Blue Notes are to be allocated to a portfolio of eligible blue projects, with any unallocated balance held in its treasury liquidity portfolio or in cash or short-term instruments pending allocation. The indenture includes covenants limiting secured debt above a threshold, certain sale and leaseback transactions above a threshold, and consolidations, mergers, or asset conveyances of all or substantially all assets. If a change of control is accompanied or followed by a rating downgrade within a specified period, the company must offer to repurchase the notes at 101% of principal plus accrued interest. The offering was made under an S-3 shelf registration (File No. 333-273653) and an underwriting agreement dated May 19, 2026 with five underwriters.

May 29, 2026 8-K

Xylem 8-K Report, Shareholder Vote Results (May 18, 2026)

At its 2026 Annual Meeting of Shareholders, held May 14, 2026, Xylem Inc. shareholders elected all nine nominees to the board for one-year terms, ratified Deloitte & Touche LLP as the independent registered public accounting firm for 2026, approved the advisory vote on named executive compensation, and approved the implementation of the Xylem Inc. 2026 Employee Stock Purchase Plan. The filing reports that 212,209,479 shares, or 88.12% of the common stock outstanding on the March 19, 2026 record date, were represented at the meeting. All nine director nominees received substantially more votes for than against. Peribere received the most opposition, with 20,750,136 votes against, and Friel received 10,131,092 against. Harker received 13,091,788 against. The say-on-pay proposal passed with 176,623,615 votes for and 24,442,685 against, a noticeably larger opposition count than the director votes. The Deloitte ratification drew 205,386,746 votes for and 6,164,834 against, and the employee stock purchase plan drew 200,869,123 votes for and 313,939 against. The filing is a voting-results report and does not disclose new financial results, guidance, or transactions. Its main investor-relevant content is the level of shareholder dissent on executive pay and certain director nominees.

May 18, 2026 10-Q

Xylem Quarterly Report for Q1 Ended Mar 31, 2026

Xylem Inc. reported first-quarter 2026 revenue of $2,125 million, up 2.7% from $2,069 million in the prior-year quarter, with favorable foreign currency translation of $65 million partially offset by an organic decline of $9 million (0.4%). Operating income rose to $244 million (11.5% operating margin) from $231 million, and net income attributable to Xylem was $193 million, or $0.79 per diluted share, versus $169 million and $0.69 a year earlier. Adjusted operating margin was 16.1% and adjusted EBITDA margin was 20.6%, per the company's non-GAAP reconciliations. Orders were $2,228 million, up 3.2%, though down 0.3% organically, and total backlog was $4,712 million, a decrease of 7.5% from a year earlier. Cash flow and capital returns dominated the quarter's financing activity. Operating cash flow was $108 million and free cash flow was $18 million, compared with $33 million and negative $38 million a year earlier. Xylem repurchased 4.8 million shares for $595 million, and cash and cash equivalents fell to $808 million from $1,479 million at December 31, 2025. The company's board authorized a new $1.5 billion repurchase program on February 25, 2026, of which $1.1 billion remained available at quarter end. Total debt was $1,938 million, and the $1 billion revolving credit facility was undrawn. The company raised its 2026 total revenue growth outlook to 2% to 3% and maintained its organic revenue growth outlook at 2% to 4%. It also agreed on March 25, 2026 to acquire an optical sensing and measurement systems company for approximately $219 million, expected to close in 2026. Management expects to incur $40 to $55 million in restructuring costs for the full year, and a pending Swedish tax matter of SEK837 million remains under appeal with no unrecognized tax benefit recorded.

Apr 28, 2026 8-K

Xylem 8-K Report, Financial Results (Apr 28, 2026)

Xylem Inc. reported first-quarter 2026 results on April 28, 2026, via a press release furnished as Exhibit 99.1. Revenue was $2.1 billion ($2,125 million), up 3% on a reported basis but flat organically. Orders were $2.2 billion ($2,228 million), also up 3% reported and flat organically. Net income attributable to Xylem was $193 million, or $0.79 per diluted share, compared with $169 million, or $0.69, a year earlier. Adjusted net income attributable to Xylem was $272 million, or $1.12 per share, up 9% from $1.03. The reported EPS gain was helped by a reduction in the estimated loss on sale of businesses, partly offset by higher restructuring and realignment costs. Adjusted EBITDA margin was 20.6% in the quarter, up 20 basis points year over year, with productivity savings and price realization exceeding the effects of inflation, mix and lower volumes. Operating cash flow was $108 million, against $33 million a year earlier, and capital expenditures were $90 million. The company repurchased $563 million of common stock during the quarter, and treasury stock rose to $1,368 million from $768 million at year-end 2025. Cash and cash equivalents fell to $808 million from $1,479 million at December 31, 2025. For full-year 2026, Xylem raised its reported revenue guidance to approximately $9.2 to $9.3 billion, up roughly 2% to 3% on a reported basis from the prior 1% to 3%. Organic growth guidance of 2% to 4% was unchanged, and adjusted EPS guidance of $5.35 to $5.60 was reaffirmed. The company also expects an adjusted EBITDA margin of 22.9% to 23.3% and a free cash flow margin of 10.2% to 11.0%.

Apr 28, 2026 8-K

Xylem 8-K Report, Corporate Update (Feb 25, 2026)

Xylem Inc. (XYL) disclosed in a Form 8-K filed under Item 8.01 (Other Events) that its Board of Directors approved on February 25, 2026 a new share repurchase program. The program authorizes the Company to purchase up to $1.5 billion of its common stock, $0.01 par value, and has no expiration date. Repurchases may be made through open market purchases or otherwise, in compliance with applicable laws and regulations, at such times and in such amounts as do not exceed the aggregate authorization. The filing states the program does not obligate Xylem to acquire any particular amount of common stock and may be suspended at any time at the Company's discretion. For investors, the key takeaway is the size and flexibility of the authorization: a $1.5 billion capacity with no end date gives management discretion over the timing and pace of buybacks, with no commitment to a specific level of repurchases.

Feb 25, 2026 10-K

Xylem Annual Report, Year Ended Dec 31, 2025

Xylem Inc. (NYSE: XYL) reported 2025 revenue of $9.04 billion, up 5.5% from $8.56 billion in 2024, with organic growth of $419 million and favorable foreign currency impacts of $71 million. Operating income rose 21.2% to $1.22 billion, with operating margin of 13.5% versus 11.8% in 2024. Net income attributable to Xylem was $957 million, or $3.92 per diluted share, compared with $890 million, or $3.65 per diluted share, in 2024. Adjusted net income was $1.24 billion, or $5.08 per diluted share, up 19.0% from $4.27 in 2024. Adjusted operating margin expanded to 17.8% from 16.0%, driven by productivity savings and price realization, partially offset by inflation. Orders grew 2.0% to $8.90 billion, but total backlog declined 9.0% to $4.62 billion at December 31, 2025 from $5.07 billion a year earlier. Management expects about 60% of year-end backlog to convert to revenue in 2026. Cash flow was steady: operating cash flow was $1.24 billion, down 2%, and free cash flow was $910 million, down 3%. The company ended 2025 with approximately $2.5 billion of available liquidity, comprising $1.5 billion of cash and $1 billion of undrawn credit facilities. For 2026, Xylem guides to total revenue growth of 1% to 3% and organic revenue growth of 2% to 4%. The filing also highlights ongoing risks, including tariffs and trade actions, supply chain constraints involving semiconductors and rare earths, cybersecurity exposure, and a pending Swedish tax assessment that the company continues to contest. Goodwill and indefinite-lived intangibles totaled roughly $9 billion, and the auditor identified goodwill impairment testing for one Water Solutions and Services reporting unit as a critical audit matter. No impairment was recognized in 2025.

Feb 25, 2026 8-K

Xylem 8-K Report, Financial Results (Feb 10, 2026)

Xylem Inc. (NYSE: XYL) filed this Form 8-K under Item 2.02 (Results of Operations and Financial Condition) to furnish a February 10, 2026 press release reporting fourth-quarter and full-year 2025 results. For full-year 2025, revenue was $9.035 billion, up 6% on a reported basis and 5% organically, with diluted EPS of $3.92, up 7%, and adjusted EPS of $5.08, up 19%. Net income attributable to Xylem was $957 million for the year. Orders for the fourth quarter were $2.4 billion, up 9% on a reported basis and 7% organically, and fourth-quarter revenue was $2.4 billion, up 6% reported and 4% organically. Fourth-quarter diluted EPS was $1.37, up 2%, while adjusted EPS was $1.42, up 20%. Management attributed the adjusted profit growth to productivity and price, and the adjusted EBITDA margin for the quarter was 23.2%, up 220 basis points year over year. The Board declared a first-quarter dividend of $0.43 per share, an 8% increase, payable March 24, 2026 to holders of record as of February 24, 2026. For 2026, Xylem guided to full-year revenue of approximately $9.1 to $9.2 billion, up 1% to 3% on a reported basis and 2% to 4% organically, with adjusted EBITDA margin of approximately 22.9% to 23.3% and free cash flow margin of approximately 10.2% to 11%. The company also cited adjusted EPS guidance of $5.35 to $5.60 in the press release headline, and it highlighted its ongoing portfolio simplification and transformation efforts.

Feb 10, 2026 8-K

Xylem 8-K Report, Financial Results (Oct 28, 2025)

Xylem Inc. (NYSE: XYL) reported third-quarter 2025 results on October 28, 2025, with revenue of $2.3 billion, up 8% on a reported basis and 7% organically. Net income attributable to Xylem was $227 million, or $0.93 per share, up from $0.89 in the prior-year quarter. On an adjusted basis, earnings per share were $1.37, up 23%, and the adjusted EBITDA margin was 23.2%, a year-over-year increase of 200 basis points. Management attributed the margin expansion to productivity savings, strong price realization and volume, which exceeded the impact of inflation, investments and mix. Reported net income margin declined 30 basis points to 10.0%, reflecting a loss from the sale of businesses and higher tax expense, partially offset by lower interest expense. Xylem raised its full-year 2025 guidance. Revenue is now expected at approximately $9.0 billion, up roughly 5 to 6% on a reported basis (previously 4 to 5%) and up roughly 4 to 5% organically. Full-year adjusted EBITDA margin is forecast at 22.0% to 22.3%, and adjusted EPS at $5.03 to $5.08, versus the prior range of $4.70 to $4.85. Full-year free cash flow margin is still expected to be approximately 9% to 10%. Management stated that the company is solidly on track to deliver its long-term financial framework, while noting ongoing geopolitical, trade, macroeconomic and regulatory uncertainty. The nine-month results show revenue of $6.64 billion, up 5% on a reported basis, and diluted EPS of $2.55 versus $2.32. Operating cash flow for the nine months was $698 million, compared with $688 million a year earlier, and capital expenditures were $248 million. Goodwill rose to $8.28 billion from $7.98 billion at year-end 2024, and assets held for sale increased to $158 million. The filing itself is an 8-K furnishing the earnings press release as Exhibit 99.1.

Oct 28, 2025 10-Q

Xylem Quarterly Report for Q3 Ended Sep 30, 2025

Xylem Inc. reported third-quarter 2025 revenue of $2,268 million, up 7.8% from $2,104 million in the prior-year quarter, with organic revenue growth of 6.9% led by double-digit organic growth in Measurement and Control Solutions and Water Solutions and Services. Operating income rose to $334 million (operating margin of 14.7%) from $280 million, while net income attributable to Xylem was $227 million, or $0.93 per diluted share, versus $217 million and $0.89 a year earlier. Results were weighed down by a $37 million loss on sale of businesses in the quarter, which included a $39 million loss on assets held for sale related to the international metering business. Orders were $2,181 million, down 0.9% from the prior year, and total backlog was $4,819 million at September 30, 2025, down 8.3% year over year. For the nine months ended September 30, 2025, revenue was $6,638 million (up 5.3%), operating income was $870 million, and net income attributable to Xylem was $622 million, or $2.55 per diluted share. Operating cash flow was $698 million and capital expenditures were $248 million, leaving free cash flow of $450 million, compared with $467 million a year earlier. Cash and cash equivalents were $1,191 million at quarter-end, and the company cited available liquidity of approximately $2.2 billion, including $1 billion of undrawn credit facilities. The company raised its 2025 total revenue growth outlook to 5% to 6% and organic revenue growth outlook to 4% to 5%. During the period, Xylem completed the acquisition of EnviroMix for $106 million in cash, reclassified its international metering business as held for sale, and divested the former Evoqua Magneto business. The company also recorded restructuring and asset impairment charges of $70 million for the nine months, and management expects restructuring costs of $90 million to $100 million for the full year. The Swedish tax assessment remains under litigation, with no unrecognized tax benefit recorded as of September 30, 2025.

Oct 28, 2025 8-K

Xylem 8-K Report, Financial Results (Jul 31, 2025)

Xylem Inc. (NYSE: XYL) reported second-quarter 2025 results on July 31, 2025, furnished as Exhibit 99.1 to this Form 8-K. Revenue was $2.3 billion, up 6% on both a reported and organic basis. Net income attributable to Xylem was $226 million, or $0.93 per share, and adjusted net income was $307 million, or $1.26 per share, with both EPS figures up 16%. Net income margin rose 90 basis points to 9.8 percent, and adjusted EBITDA margin was 21.8 percent, up 100 basis points year over year. Xylem raised its full-year 2025 outlook. It now forecasts revenue of approximately $8.9 to $9.0 billion, up approximately 4 to 5 percent on a reported basis versus the prior guidance of 1 to 2 percent, and up approximately 4 percent organically. Full-year adjusted EBITDA margin is expected to be approximately 21.3 to 21.8 percent, and adjusted EPS is now guided to $4.70 to $4.85, up from $4.50 to $4.70. Free cash flow margin guidance is unchanged at approximately 9 to 10 percent. For the six months ended June 30, 2025, revenue was $4.37 billion and GAAP net income attributable to Xylem was $395 million. Management attributed the margin expansion to productivity savings and strong price realization, and cited its simplification efforts as having yielded measurable gains in speed, accountability and customer responsiveness.

Jul 31, 2025 10-Q

Xylem Quarterly Report for Q2 Ended Jun 30, 2025

Xylem Inc. reported second-quarter 2025 revenue of $2,301 million, up 6.1% from $2,169 million a year earlier, with organic revenue growth of 5.5% across all segments, led by Measurement and Control Solutions. Gross margin rose to 38.8% from 37.8%, and operating income increased to $305 million (operating margin of 13.3%) from $253 million. Net income attributable to Xylem was $226 million, or $0.93 per diluted share, compared with $194 million, or $0.80, in the prior-year quarter. Adjusted earnings per share were $1.26, up 15.6%. Orders reached $2,174 million, up 4.1%, while total backlog of $5,018 million was down 2.7% from a year earlier. For the six months ended June 30, 2025, revenue was $4,370 million, up 4.0%, and net income attributable to Xylem was $395 million. Operating cash flow fell to $338 million from $377 million, and free cash flow was $169 million versus $230 million. Cash and cash equivalents were $1,170 million at June 30, 2025, and total debt was $1,996 million. Management raised its 2025 total revenue growth outlook to 4% to 5% and expects organic revenue growth of approximately 4%. Subsequent to the quarter, Xylem completed the acquisition of EMX Holdings, Inc. (EnviroMix) on July 23, 2025 for $108 million in cash. The filing also notes that the One Big Beautiful Bill Act was enacted on July 4, 2025, and that the company is assessing its impact on its consolidated financial statements.

Jul 31, 2025 8-K

Xylem 8-K Report, Shareholder Vote Results (May 16, 2025)

Xylem Inc. held its 2025 Annual Meeting of Shareholders on May 13, 2025, with 215,819,341 shares of common stock represented in person or by proxy, constituting 88.68% of outstanding common stock on the March 17, 2025 record date. Shareholders elected all nine nominees to one-year terms, ratified Deloitte & Touche LLP as the independent registered public accounting firm for 2025, and approved, on an advisory basis, the compensation paid to named executive officers as described in the 2025 proxy statement. The one contested item was a shareholder proposal on special shareholder meeting improvement, which failed to obtain approval. It received 94,569,014 votes for and 110,818,646 votes against, with 357,227 abstentions and 10,074,454 broker non-votes, so it did not secure a majority of the outstanding shares entitled to vote. For investors, the filing reflects a largely routine outcome: board composition, auditor ratification, and say-on-pay all passed. Governance-focused investors may note the level of opposition to individual directors, such as Jerome A. Peribere, who received 26,469,530 against votes, and the 26,648,724 against votes on the compensation advisory vote.

May 16, 2025 10-Q

Xylem Quarterly Report for Q1 Ended Mar 31, 2025

Xylem Inc. reported first-quarter 2025 revenue of $2,069 million, up 1.8% from $2,033 million a year earlier, with organic revenue growth of 3.3% led by strong volume in Measurement and Control Solutions and organic growth in Water Infrastructure. Operating income rose to $231 million (operating margin 11.2%) from $209 million, and net income attributable to Xylem increased to $169 million, or $0.69 per diluted share, from $153 million, or $0.63. Adjusted earnings per share were $1.03, up from $0.90 in the prior year period, according to the filing's non-GAAP reconciliation. Gross margin was essentially flat at 37.1%, with productivity savings and price offsetting inflation and unfavorable mix. Cash flow was weaker. Operating cash flow fell to $33 million from $89 million, and free cash flow was negative $38 million, compared with $15 million a year earlier. The filing attributes the decline mainly to higher accounts payable outflows, higher receivables and timing of customer payments. Orders declined 3.9% to $2,158 million, and total backlog was $5,095 million at March 31, 2025, down 3.4% year over year. Cash and equivalents were $1,059 million, and the company reported about $2.1 billion of available liquidity, including a $1 billion undrawn revolving credit facility. Management maintained its 2025 outlook of 1% to 2% total revenue growth and 3% to 4% organic revenue growth. The filing also reports restructuring charges of $17 million, an expected 2025 restructuring cost range of $60 to $70 million, the acquisition of Simply Clean, the divestiture of Evoqua Magneto for $61 million in cash, and a pending Swedish tax matter in which the company believes it is more likely than not to prevail.

Apr 29, 2025 8-K

Xylem 8-K Report, Financial Results (Apr 29, 2025)

Xylem Inc. (NYSE: XYL) reported first-quarter 2025 results on April 29, 2025, as described in Exhibit 99.1, a press release furnished under Item 2.02. Revenue was $2.1 billion ($2,069 million versus $2,033 million a year earlier), up 2% on a reported basis and 3% on an organic basis. Reported diluted earnings per share were $0.69, up from $0.63, and adjusted EPS was $1.03, up 14%. Net income attributable to Xylem was $169 million, and adjusted net income was $251 million. Management cited strong operational performance and decreased interest expense, partially offset by higher restructuring and realignment costs, tax expense and a loss on sale of businesses. Adjusted EBITDA margin was 20.4%, a 120 basis point increase year over year, driven by productivity savings and price realization. For full-year 2025, Xylem raised its revenue guidance to approximately $8.7 to $8.8 billion, up 1 to 2% on a reported basis, versus 0 to 2% previously. Organic growth guidance of 3 to 4% was unchanged, and adjusted EPS guidance of $4.50 to $4.70 was reaffirmed. The company expects an adjusted EBITDA margin of approximately 21.3 to 21.8% and free cash flow margin of approximately 9 to 10%. Management said it is offsetting current tariff impacts with strategic pricing and proactive supply chain management, and that outlook reflects geopolitical, trade, macroeconomic and regulatory uncertainty. Cash flow from operations was $33 million in the quarter, down from $89 million a year earlier, and capital expenditures were $71 million. Cash and cash equivalents were $1,059 million at March 31, 2025, and long-term debt was $1,974 million. Total assets were $16,559 million.

Apr 29, 2025 10-K

Xylem Annual Report, Year Ended Dec 31, 2024

Xylem Inc. (NYSE: XYL) reported 2024 revenue of $8,562 million, up $1,198 million, or 16.3%, from $7,364 million in 2023, with organic revenue growth of $424 million and acquisitions contributing $786 million at constant currency. Operating income rose to $1,009 million (11.8% operating margin) from $652 million, and net income increased to $890 million, or $3.65 per diluted share. Adjusted net income was $1,041 million, or $4.27 per diluted share. Net cash from operating activities was $1,263 million and free cash flow was $942 million, compared with $566 million in 2023 by the filing's own reconciliation. Growth was led by Water Infrastructure and Water Solutions and Services and Measurement and Control Solutions, while Applied Water declined organically. Total backlog was $5,070 million at December 31, 2024, versus $5,088 million a year earlier, and orders reached $8,730 million. Gross margin improved to 37.5% from 36.9%, and the company cited productivity savings and price realization as offsets to inflation. Looking ahead, management guides to total revenue growth of up to 2% in 2025 and organic revenue growth of 3% to 4%. In January 2025 management committed to a workforce restructuring plan, with expected 2025 restructuring and realignment charges of $90 million to $110 million and incremental savings of $75 million to $95 million. The company ended 2024 with about $2.1 billion of liquidity, including $1.1 billion of cash, and its securities are rated investment grade.

Mar 3, 2025 8-K

Xylem 8-K Report, Financial Results (Feb 4, 2025)

Xylem Inc. reported fourth-quarter and full-year 2024 results in a Form 8-K furnished under Item 2.02, with the details in Exhibit 99.1. Fourth-quarter orders were $2.2 billion and revenue was $2.3 billion, both up 7% on a reported and organic basis. Full-year revenue was $8.6 billion, up 16% on a reported basis and 6% organically. Diluted EPS for the year was $3.65, up 31%, and adjusted EPS was $4.27, up 13%. Fourth-quarter reported net income of $326 million, or $1.34 per diluted share, was boosted by a non-recurring gain on the remeasurement of Xylem's previously held equity interest in Idrica, which was $152 million on the income statement. Excluding this and other items, adjusted net income was $287 million, or $1.18 per share, up 19%. Fourth-quarter adjusted EBITDA margin was 21.0%, up 140 basis points year over year, driven by productivity savings, price realization and higher volume. For 2025, Xylem guided to full-year revenue of approximately $8.6 to $8.7 billion, up approximately 0 to 2% reported and 3 to 4% organically, and adjusted EBITDA margin of approximately 21.3% to 21.8%. Adjusted EPS guidance is $4.50 to $4.70. The Board declared a first-quarter dividend of $0.40 per share, an 11% increase, payable March 19, 2025 to holders of record on February 18, 2025.

Feb 4, 2025 8-K

Xylem 8-K Report, Financial Results (Jan 30, 2025)

Xylem Inc. filed this Form 8-K on January 30, 2025 with two disclosures. Under Item 2.02 (Results of Operations and Financial Condition), the company confirmed that its financial results for the quarter and year ended December 31, 2024 will be largely in line with or above the guidance it provided in its October 31, 2024 earnings announcement. This information is furnished rather than filed. Under Item 2.05 (Costs Associated with Exit or Disposal Activities), management, under delegation from the Board of Directors on January 28, 2025, committed to a restructuring plan involving workforce reductions across all businesses and functions. The company says the plan is designed to streamline the organization in line with its 2024 Investor Day simplification strategy. The majority of reductions are expected in fiscal 2025, with some in 2026, subject to local laws. Xylem expects pre-tax restructuring charges of approximately $95 million to $115 million, primarily during 2025 with some in 2026, including about $19 million in the fourth quarter of 2024. The charges consist of cash-paid employee severance, termination benefits and associated costs. The company cautions that timing and amounts may differ due to local legal requirements, works council consultations and other unanticipated events.

Jan 30, 2025 8-K

Xylem 8-K Report, Executive Changes (Jan 15, 2025)

Xylem Inc. disclosed in this Form 8-K, filed January 15, 2025, that director Jeanne Beliveau-Dunn informed the Board of Directors on January 10, 2025, that she will not stand for re-election at the Company's 2025 annual meeting of shareholders. The filing states that her decision is not due to any disagreement with the Company or the Board on matters relating to the Company's operations, policies or practices. She will continue to serve on the Board until the 2025 Annual Meeting. Effective upon Ms. Beliveau-Dunn's departure from the Board, the size of the Board will be reduced to nine members. The filing does not report any financial results, guidance, or other financial metrics. The filing's only exhibit is the cover page of the Form 8-K, formatted in Inline XBRL (included as Exhibit 101). For investors, the main takeaway is a routine board-composition change with no stated dispute and no financial impact disclosed in this filing.

Jan 15, 2025 10-Q

Xylem Quarterly Report for Q3 Ended Sep 30, 2024

Xylem Inc. reported third-quarter 2024 revenue of $2,104 million, up 1.3% from $2,076 million a year earlier, with organic revenue up 1.1%, driven mainly by Measurement and Control Solutions. Net income rose to $217 million from $152 million, and diluted EPS was $0.89 versus $0.63. Operating income increased to $280 million (13.3% operating margin) from $191 million (9.2%), helped by lower special charges, restructuring and acquired intangible amortization. Orders were $2,201 million, up 8.4%, and total backlog reached $5,253 million at September 30, 2024. For the nine months, revenue was $6,306 million, up 20.2%, including $782 million from acquisitions and divestitures, with organic revenue up 5.4%. Net income was $564 million and diluted EPS was $2.32. Operating cash flow was $688 million, and free cash flow was $467 million compared with $205 million a year earlier. Cash and cash equivalents were $989 million, total debt was $1,994 million, and the company repaid its €250 million term loan in April 2024. Management updated its 2024 outlook to total revenue growth of 15% and organic revenue growth of approximately 5%. Subsequent to quarter-end, Xylem sent notice to exercise a call option to acquire an additional 35.9% equity interest in Idrica for approximately €146 million ($163 million), with closing expected in December 2024.

Oct 31, 2024 8-K

Xylem 8-K Report, Financial Results (Oct 31, 2024)

Xylem Inc. reported third-quarter 2024 results on October 31, 2024. Revenue was $2.1 billion, up 1% on both a reported and organic basis, and orders grew 8% on a reported and organic basis. Net income was $217 million, or $0.89 per share, compared with $152 million, or $0.63 per share, a year earlier. Adjusted net income was $269 million, or $1.11 per share, and adjusted EBITDA margin was 21.2%, a 140 basis point year-over-year increase driven by productivity savings and price. Management attributed the moderated organic revenue growth largely to project timing. For full-year 2024, Xylem expects revenue of $8.5 billion, up approximately 15% on a reported basis and approximately 5% on an organic basis. It expects a full-year adjusted EBITDA margin of approximately 20.5% and narrowed its adjusted EPS guidance to $4.22 to $4.24, from the prior range of $4.18 to $4.28. Free cash flow conversion to net income is expected to be at least 120%. Management said the Evoqua integration is ahead of schedule and that synergy capture continues to accelerate, which supports confidence in closing the year above target. Year-to-date through September 30, 2024, net cash from operating activities was $688 million, compared with $382 million in the prior-year period, and capital expenditures were $221 million.

Oct 31, 2024 8-K

Xylem 8-K Report, Executive Changes (Oct 15, 2024)

Xylem Inc. filed this Form 8-K on October 15, 2024 to report a senior leadership change in its Applied Water segment. Franz W. Cerwinka will cease to serve as Senior Vice President and President, Applied Water and Xylem Business Transformation effective October 21, 2024. Under a Transition Services Agreement dated October 14, 2024, he will remain employed as an advisor until his involuntary termination without cause on or about March 31, 2025. During the transition he will continue to receive a base salary at an annual rate of $570,630, keep participating in employee benefit plans, continue vesting in outstanding equity awards through the termination date, and be eligible for a 2024 annual incentive plan payout based on Company and individual performance. The same filing discloses that on October 15, 2024 the Company issued a press release naming Meredith Emmerich Senior Vice President and President, Applied Water, effective October 21, 2024. According to the press release, Emmerich joins the senior leadership team and reports to President and CEO Matthew Pine. Applied Water is one of Xylem's four reportable business segments, serving industrial and commercial buildings markets. Emmerich most recently was Vice President of Carrier Global Corporation's Global Enterprise Solutions and has held senior roles at Carrier since 2013. For investors, the filing is primarily a management transition notice rather than a financial disclosure; it contains no financial results. The filing states that Xylem is a company with 23,000 employees and combined pro forma revenue of $8.1 billion in 2023, and that the press release information is furnished under Regulation FD and not deemed filed under the Exchange Act.

Oct 15, 2024 10-Q

Xylem Quarterly Report for Q2 Ended Jun 30, 2024

Xylem Inc. reported second-quarter 2024 revenue of $2,169 million, up 26.0% from $1,722 million in the prior-year quarter. Organic revenue grew 9.2%, and acquisitions and divestitures, net, contributed $302 million. Net income rose to $194 million, or $0.80 per diluted share, from $92 million, or $0.45. Operating income was $253 million, up 112.6%, and adjusted earnings per share were $1.09, up 11.2%. Orders were $2,087 million, up 12.4% overall but down 1.2% on an organic basis. Gross margin was flat at 37.8%. For the six months ended June 30, 2024, revenue was $4,202 million, up 32.6%, and net income was $347 million. Operating cash flow improved to $377 million from $9 million, and free cash flow was $230 million. Cash and cash equivalents were $815 million at June 30, 2024, and total debt was $1,998 million, down from $2,284 million at year-end 2023, after the company settled its €250 million ($268 million) term loan with cash on hand in April 2024. Total backlog was $5,156 million, down 2.2% from June 30, 2023. Xylem updated its 2024 outlook to total revenue growth of 16% and organic revenue growth of 5% to 6%. The company expects $40 million to $50 million in restructuring costs for the full year. The filing also discloses a Swedish tax dispute involving an assessment of SEK837 million (approximately $79 million). A Swedish appellate court ruled in Xylem's favor on May 15, 2024, but the Swedish Tax Agency has appealed to the Supreme Administrative Court. Separately, Evoqua entered a non-prosecution agreement with the U.S. Attorney's Office and paid an $8.5 million criminal monetary penalty.

Jul 30, 2024 8-K

Xylem 8-K Report, Financial Results (Jul 30, 2024)

Xylem Inc. filed this Form 8-K on July 30, 2024 under Item 2.02 (Results of Operations and Financial Condition) to furnish a press release, Exhibit 99.1, reporting results for the quarter ended June 30, 2024. Second-quarter revenue was $2.2 billion ($2,169 million), up 26% on a reported basis and 9% organically. Net income was $194 million, or $0.80 per diluted share, compared with $92 million, or $0.45, a year earlier. Adjusted net income was $266 million, or $1.09 per share, and adjusted EBITDA margin was 20.8%, up 170 basis points year over year. Orders grew 12% on a reported basis but declined 1% organically. Xylem raised its full-year 2024 outlook. Revenue guidance is now $8.55 billion, up approximately 16% on a reported basis and 5% to 6% organically, versus the prior 4% to 6% organic range. Full-year adjusted EPS guidance is $4.18 to $4.28, up from $4.10 to $4.25, and the adjusted EBITDA margin outlook rose to approximately 20.5% from 20.0%. Free cash flow conversion to net income is now expected to be at least 120%, versus the prior 115%. Management cited the Evoqua integration and synergies as on track and noted possible macro variability in the second half. For the six months ended June 30, 2024, revenue was $4,202 million and net income was $347 million, or $1.43 per diluted share. Cash and cash equivalents were $815 million at June 30, 2024, and long-term debt was $1,981 million. Operating cash flow for the six months was $377 million, and capital expenditures were $147 million.

Jul 30, 2024 8-K

Xylem 8-K Report, Shareholder Vote Results (May 21, 2024)

At its 2024 Annual Meeting of Shareholders, held May 16, 2024, Xylem Inc. reported that 215,410,924 shares of common stock, representing 88.86% of shares outstanding on the March 18, 2024 record date, were represented in person or by proxy. Shareholders elected all ten nominees to one-year terms, with each director receiving substantially more votes for than against. Most notably, Victoria D. Harker received 190,484,855 votes for and 14,388,704 against, and Mark D. Morelli received 198,989,938 for and 5,880,318 against, the largest opposition among the nominees. Shareholders also ratified Deloitte & Touche LLP as the independent registered public accounting firm for 2024, with 206,099,678 votes for, 8,611,443 against and 699,803 abstentions. On an advisory basis, shareholders approved the compensation of named executive officers, with 169,326,139 votes for and 35,430,043 against, plus 339,675 abstentions and 10,315,067 broker non-votes. On the frequency of future say-on-pay votes, the majority of shareholders chose "1 Year," with 201,496,786 votes, versus 112,059 for 2 years and 3,201,811 for 3 years. This result indicates that Xylem will hold advisory compensation votes annually.

May 21, 2024 8-K

Xylem 8-K Report, Financial Results (May 2, 2024)

Xylem Inc. (NYSE: XYL) reported first-quarter 2024 results on May 2, 2024, with revenue of $2.0 billion (up 40% on a reported basis and 7% organically) and orders of $2.2 billion (up 43% reported, 3% organic). Net income was $153 million, or $0.63 per diluted share, compared with $99 million, or $0.54 per diluted share, a year earlier. Adjusted net income was $219 million, or $0.90 per share, and the adjusted EBITDA margin was 19.2%, a year-over-year increase of 290 basis points. Management attributed the margin expansion to productivity savings, favorable mix, price and volume, which more than offset inflation and strategic investments. The company cited record first-quarter margins and progress on synergies from its integration of Evoqua. Xylem raised its full-year 2024 guidance. Revenue is now expected to be approximately $8.5 billion, up approximately 15 to 16 percent on a reported basis and 4 to 6 percent organically, compared with the prior guidance of 14 to 15 percent reported and 3 to 5 percent organic. Full-year adjusted EBITDA margin is now expected to be approximately 20.0 percent, up from 19.4 to 19.9 percent, and adjusted EPS guidance was lifted to $4.10 to $4.25 from $4.00 to $4.20. Free cash flow conversion to net income is still expected to be approximately 115 percent. The balance sheet shows cash and equivalents of $947 million at March 31, 2024, and long-term debt of $1,985 million, down from $2,268 million at December 31, 2023. Operating cash flow was $89 million in the quarter, compared with negative $19 million a year earlier, and free cash flow was $15 million. The filing furnishes the earnings press release as Exhibit 99.1 under Item 2.02.

May 2, 2024 10-Q

Xylem Quarterly Report for Q1 Ended Mar 31, 2024

Xylem Inc. reported first-quarter 2024 revenue of $2,033 million, up 40.4% from $1,448 million a year earlier. The filing attributes $480 million of the increase to acquisitions and divestitures, net, and organic revenue grew 7.1%, led by Measurement and Control Solutions and Water Solutions and Services. Net income rose to $153 million from $99 million, and diluted EPS was $0.63, up 16.7% from the prior year. On an adjusted basis, EPS was $0.90 versus $0.79. Operating income rose to $209 million, with an operating margin of 10.3%, and adjusted EBITDA margin expanded to 19.2% from 16.3%. The results reflect the May 2023 Evoqua acquisition, which added revenue, amortization and integration costs. Orders were $2,246 million, up 43.1%, and total backlog reached $5,272 million at March 31, 2024. Cash flow from operations was $89 million, compared with a use of $19 million a year earlier, and free cash flow was $15 million. Cash and cash equivalents were $947 million, and total debt was $2,270 million. The company paid $88 million in dividends and said it had about $1.9 billion of available liquidity, including $1 billion of undrawn credit facilities. The company updated its 2024 outlook to total revenue growth of 15% to 16% and organic revenue growth of 4% to 6%. Operating results were mixed across segments. Water Infrastructure and Measurement and Control Solutions improved, while Applied Water revenue declined 3.8% on an organic decline of $18 million driven by building solutions and industrial applications. The filing also discloses an ongoing U.S. Attorney's Office investigation into financial misstatements in Evoqua's public filings. The company says it does not expect a material adverse effect.

May 2, 2024 8-K

Xylem 8-K Report, Regulation FD Disclosure (Mar 8, 2024)

On March 8, 2024, Xylem Inc. furnished an 8-K under Item 7.01 (Regulation FD) announcing a change to its reportable segments effective January 1, 2024. The Company's Integrated Solutions and Services (ISS) segment, inherited from its May 24, 2023 acquisition of Evoqua Water Technologies Corp., is combined with the dewatering business (formerly in Water Infrastructure) and the assessment services business (formerly in Measurement and Control Solutions) into a new segment called Water Solutions and Services. Water Infrastructure and Measurement and Control Solutions will no longer include those businesses, and Applied Water is unchanged. The Company states the redesign creates a services platform intended to deliver a unified customer experience and accelerate growth of its services offerings. The changes have no impact on historical consolidated financial position or results of operations, and the recast information is not a restatement. Exhibit 99.1 presents recast orders, revenue, operating income, adjusted operating income, EBITDA and adjusted EBITDA by segment for the first through fourth quarters of 2023 and the years 2021 through 2023. For full year 2023, recast total orders and revenue were $7.50 billion and $7.36 billion, respectively, and recast total adjusted operating income and adjusted EBITDA were $1.07 billion and $1.39 billion. Recast Water Solutions and Services orders were $1.75 billion in 2023 versus $811 million in 2022, and its revenue was $1.68 billion in 2023 versus $794 million in 2022. The exhibit also includes organic and constant currency growth reconciliations, which show total recast revenue growth of 33% on a GAAP basis and 12% on an adjusted organic basis for 2023 versus 2022. The recast figures are for informational purposes and should be read alongside the Company's 2023 Form 10-K. The information is furnished, not filed, and the company notes that its adjusted measures are non-GAAP and should not replace GAAP results.

Mar 8, 2024 10-K

Xylem Annual Report, Year Ended Dec 31, 2023

Xylem Inc. (XYL) reported 2023 revenue of $7.364 billion, up $1.842 billion, or 33.4%, from $5.522 billion in 2022, driven largely by the May 24, 2023 acquisition of Evoqua Water Technologies Corp. Acquisitions contributed $1.177 billion of the revenue increase, while organic revenue grew $690 million, or 12.5%. Net income rose to $609 million, or $2.79 per diluted share, from $355 million, or $1.96 per diluted share. Adjusted operating margin expanded to 14.6% from 13.5%, and adjusted EPS was $3.78 versus $3.15. Reported operating margin declined to 8.9% from 11.3% because of higher special charges, acquired intangible amortization and restructuring costs tied largely to the Evoqua integration. Cash flow and balance sheet changes were significant. Net cash from operating activities was $837 million and free cash flow was $599 million. Total assets rose to $16.112 billion from $7.952 billion, with goodwill at $7.587 billion and other intangible assets at $2.529 billion. Total debt was $2.284 billion. The company reported $1 billion of cash and cash equivalents and $1 billion of undrawn availability under its 2023 revolving credit facility. Total backlog was $5.088 billion at year-end, up 41.1%, with about 55% expected to convert to revenue in 2024 per Item 1, while the MD&A states more than 50%. For 2024, management guides total revenue growth of 14% to 15% and organic revenue growth of 3% to 5%, with Applied Water expected to decline in the low-single digits organically and Measurement and Control Solutions expected to grow in the low-double digits. Effective January 1, 2024, the company will reorganize into a new Water Solutions and Services segment combining Integrated Solutions and Services, dewatering and assessment services. Key risks cited include tariffs and inflation, supply chain constraints, Buy America domestic content requirements, cybersecurity, and goodwill impairment exposure.

Feb 28, 2024 8-K

Xylem 8-K Report, Financial Results (Feb 6, 2024)

Xylem Inc. (NYSE: XYL) reported fourth-quarter and full-year 2023 results on February 6, 2024, in a press release furnished as Exhibit 99.1. For the full year, revenue was $7.4 billion ($7,364 million), up 33% on a reported basis and 12% organically, and diluted EPS was $2.79, up 42%, or $3.78 on an adjusted basis, up 20%. Fourth-quarter revenue was $2.1 billion, up 41% reported and 9% organically, with orders of $2.0 billion, up 42% reported and 10% organically. Net income for the quarter was $266 million, or $1.10 per share, while adjusted EPS was $0.99, down 1%. The company credited productivity savings, price realization and higher volume for a 90 basis point year-over-year increase in fourth-quarter adjusted EBITDA margin, which was 19.6%. Management cited the integration of Evoqua as ahead of schedule. The filing also shows large year-over-year increases in goodwill ($7,587 million versus $2,719 million) and other intangible assets ($2,529 million versus $930 million), and full-year acquisitions of businesses of $476 million in cash flow. The press release notes that fourth-quarter and full-year results benefited from non-recurring tax benefits, partly offset by acquisition and integration costs, purchase accounting amortization, special charges and restructuring costs. For 2024, Xylem guided to revenue of approximately $8.4 to $8.5 billion, up approximately 14 to 15% reported and 3 to 5% organically, adjusted EBITDA margin of approximately 19.4% to 19.9%, and free cash flow conversion to net income of approximately 115%. The board declared a first-quarter dividend of $0.36 per share, an increase of 9%, payable March 20, 2024, to holders of record as of February 21, 2024.

Feb 6, 2024 8-K

Xylem 8-K Report, Regulation FD Disclosure (Dec 13, 2023)

On December 13, 2023, Xylem Inc. (NYSE: XYL) filed an 8-K under Item 7.01 (Regulation FD Disclosure) announcing a change to its reportable segments, effective January 1, 2024, with the change reflected beginning in the first quarter of 2024. The company completed its acquisition of Evoqua Water Technologies Corp. on May 24, 2023, and since the second quarter of 2023 has reported Evoqua's Integrated Solutions and Services (ISS) segment as a fourth reportable segment. Under the reorganization, ISS, Xylem's dewatering business and its assessment services business will be combined into a new segment called Water Solutions and Services (WSS). The Water Infrastructure segment will no longer include dewatering results, and the Measurement and Control Solutions segment will no longer include assessment services results. The Applied Water segment is unchanged. The company states that the realignment is intended to create a services platform with a unified customer experience and to accelerate growth of its services offerings, and that it is driven by integration of the Evoqua acquisition. The filing states that the changes will have no impact on historical consolidated financial position or results of operations, and that recast segment information will not be a restatement of previously issued financial statements. Recast information for affected segments will be provided after the 2023 Annual Report on Form 10-K is filed. Management will discuss the new segment on its fourth-quarter and full-year earnings call on February 6. The accompanying press release (Exhibit 99.1) states that for fiscal 2024 the approximate proportion of total revenue is expected to be 30% for Water Solutions and Services, 20% for Measurement and Control Solutions, 30% for Water Infrastructure, and 20% for Applied Water. Matthew Pine, Chief Operating Officer and incoming CEO, is quoted as saying the new segment is a natural next step to accelerate integration, scale service capabilities and drive shareholder value.

Dec 13, 2023 8-K

Xylem 8-K Report, Financial Results (Oct 31, 2023)

Xylem Inc. (NYSE: XYL) reported third-quarter 2023 results on October 31, 2023. Revenue was $2.1 billion ($2,076 million), up 50 percent on a reported basis and 10 percent organically, with net income of $152 million, or $0.63 per diluted share, compared with $12 million, or $0.07, a year earlier. The reported period includes the Evoqua acquisition, which contributed $1.3 billion to backlog, and the prior-year quarter included a $140 million U.K. pension settlement expense. Adjusted net income was $240 million, or $0.99 per share. Management raised full-year 2023 guidance. Revenue is now expected to be approximately $7.3 billion, up approximately 32 percent on a reported basis and approximately 11 percent organically, compared with the prior guidance of 30 percent reported and 9 to 10 percent organic growth. Adjusted EBITDA margin is now expected to be approximately 19 percent, up from approximately 18 percent, and adjusted EPS is now guided to $3.71 to $3.73, up from $3.50 to $3.70. By segment, Measurement & Control Solutions grew revenue 26 percent reported and 25 percent organically, and Water Infrastructure grew 40 percent reported and 7 percent organically. Applied Water revenue rose 2 percent reported and 1 percent organically. Integrated Solutions & Services, a segment associated with Evoqua, generated $368 million of revenue in the quarter. Total orders rose 43 percent reported but only 3 percent organically, and backlog grew 5 percent organically to $5.2 billion.

Oct 31, 2023 10-Q

Xylem Quarterly Report for Q3 Ended Sep 30, 2023

Xylem Inc. reported third-quarter 2023 revenue of $2,076 million, up 50.4% from $1,380 million in the prior-year quarter. The increase reflects organic revenue growth of 9.7% together with contributions from the Evoqua acquisition, which Xylem completed on May 24, 2023. Net income was $152 million, or $0.63 per diluted share, compared with $12 million, or $0.07 per share, a year earlier. On an adjusted basis, earnings per share were $0.99, up 13.8%. Adjusted EBITDA was $411 million, with an adjusted EBITDA margin of 19.8%. Operating income was $191 million, a 9.2% operating margin, compared with 12.2% in the prior year, and the filing attributes the margin decline mainly to acquisition-related amortization, special charges and restructuring costs. The Evoqua transaction materially changed the balance sheet. Xylem issued 58,779,096 shares to Evoqua stockholders, and the total acquisition-date fair value of consideration was $6,900 million, which produced $4,442 million of goodwill and $2,245 million of identifiable intangible assets. Total assets rose to $15,905 million from $7,952 million at December 31, 2022, and total debt was $2,270 million. Orders reached $2,031 million, up 43.1%, and total backlog was $5,169 million at September 30, 2023. For the nine months, operating cash flow was $382 million and free cash flow was $238 million, and cash and cash equivalents stood at $705 million. For full-year 2023, management updated its outlook to total revenue growth of approximately 32% and organic revenue growth of approximately 11%. Management expects restructuring and realignment costs of approximately $95 million in 2023. The filing also discloses an ongoing U.S. Attorney's Office investigation, inherited from Evoqua, into whether financial misstatements were made in Evoqua's public filings. Xylem states it is cooperating and believes the matter will not have a material adverse effect on the company.

Oct 31, 2023 8-K

Xylem 8-K Report, Executive Changes (Sep 5, 2023)

Xylem Inc. announced on September 5, 2023 a CEO succession and a change in Chief Financial Officer. President and Chief Executive Officer Patrick K. Decker will retire as CEO and resign from the Board effective December 31, 2023, and remain employed as a senior advisor through his planned retirement on March 31, 2024. The Board appointed Mattew F. Pine, age 52, currently Chief Operating Officer, as President and CEO and as a Board member effective January 1, 2024, with an annual base salary of $1,100,000, a 2024 AIP target of 135% of base salary, and a 2024 LTIP target equity grant of $6,500,000 subject to Compensation Committee approval. On the finance side, Senior Vice President and Chief Financial Officer Sandra E. Rowland will cease that role effective October 1, 2023 and remain as a strategic advisor until her termination without cause on March 31, 2024. The Board appointed William K. Grogan, previously Senior Vice President and Chief Financial Officer of IDEX Corporation since January 2017, to the CFO role effective October 1, 2023. Grogan will receive a $725,000 base salary, a 2024 LTIP target award of $2,000,000, a $350,000 one-time sign-on cash award, and sign-on equity grants of $1,000,000 in performance share units and $2,750,000 in restricted stock units to offset forfeited awards. The company reaffirmed its third-quarter and full-year 2023 guidance issued on August 2, 2023, and the press release notes the integration of Xylem and Evoqua as a continuing priority under Pine's leadership.

Sep 5, 2023 8-K

Xylem 8-K/A Report, Financial Results (Aug 10, 2023)

Xylem Inc. (NYSE: XYL) furnished its press release reporting second-quarter 2023 results, which include the May 24 acquisition of Evoqua Water Technologies Corp. Second-quarter revenue was $1.7 billion, up 26% on a reported basis and 15% organically. Orders rose 10% on a reported basis but fell 2% organically, while backlog grew to $5.3 billion, up 7% organically and including $1.3 billion from Evoqua. Net income was $92 million, or $0.45 per share, down from the prior year, reflecting higher acquisition and integration costs, higher purchase accounting intangible amortization, and higher restructuring and realignment costs. Adjusted net income was $202 million, or $0.98 per share, and the adjusted EBITDA margin was 19.1%, up 250 basis points year over year. The company raised its full-year 2023 outlook. Revenue guidance rose to approximately $7.2 billion, up approximately 30% on a reported basis and 9% to 10% organically, from the previous 8% to 9%. Adjusted EPS guidance increased to $3.50 to $3.70 from $3.15 to $3.35, and the full-year adjusted EBITDA margin is now expected to be approximately 18%, up from 17.5% to 18.0%. Management attributed the raise to strong organic performance and the Evoqua combination. Following the acquisition, Xylem reports four segments: Measurement & Control Solutions, Water Infrastructure (now including legacy-Evoqua's Applied Product Technologies segment), Applied Water, and the new stand-alone Integrated Solutions & Services segment. Second-quarter segment revenue was $415 million for Measurement & Control Solutions, $704 million for Water Infrastructure, $478 million for Applied Water, and $125 million for Integrated Solutions & Services.

Aug 10, 2023 10-Q

Xylem Quarterly Report for Q2 Ended Jun 30, 2023

Xylem Inc. reported second-quarter 2023 revenue of $1,722 million, up 26.2% from $1,364 million a year earlier, with organic growth of 14.6% and an 13.0% contribution from the Evoqua acquisition, which closed on May 24, 2023. Operating income fell to $119 million (6.9% margin) from $146 million (10.7%), and net income declined to $92 million from $112 million, with diluted EPS of $0.45 versus $0.62. The filing attributes the decline mainly to special charges of $67 million, primarily acquisition and integration costs tied to Evoqua, along with higher restructuring and acquired-intangible amortization. Management reported adjusted operating income of $259 million (15.0% adjusted margin) versus $173 million (12.7%) in the prior-year quarter, and adjusted EPS of $0.98 versus $0.98 is not stated; the filing gives adjusted EPS of $0.98 for Q2 2023 compared with $0.74 in Q2 2022. The acquisition materially changed the balance sheet. Total assets rose to $16,097 million from $7,952 million at December 31, 2022, driven by goodwill of $7,108 million and other intangible assets of $3,188 million. The Evoqua purchase price was $6,900 million, including $6,121 million in Xylem stock issued to Evoqua shareholders, and total debt rose to $2,507 million from $1,880 million, with cash and equivalents falling to $708 million. Operating cash flow was only $9 million for the first half of 2023 versus $32 million a year earlier, and free cash flow was negative at $(61) million, reflecting higher tax payments and transaction costs. Orders grew 10.2% in the quarter to $1,856 million, and total backlog reached $5,271 million at June 30, 2023. Management updated its 2023 outlook to total revenue growth of approximately 30% and organic revenue growth of 9% to 10%.

Aug 4, 2023 8-K

Xylem 8-K/A Report, Exhibit Filing (Aug 3, 2023)

Xylem Inc. filed Amendment No. 1 to its Current Report on Form 8-K to add the financial statements and pro forma financial information omitted from the original May 24, 2023 report on the completion of its merger with Evoqua Water Technologies Corp. The merger closed on May 24, 2023 under the Agreement and Plan of Merger dated January 22, 2023. Evoqua's audited financial statements for the fiscal year ended September 30, 2022, its unaudited interim statements for the period ended March 31, 2023, and Xylem's unaudited pro forma condensed combined financial information are included as Exhibits 99.1, 99.2 and 99.3, along with an Ernst & Young LLP consent (Exhibit 23.1). The filing states that the aggregate consideration paid in the acquisition was approximately $6.9 billion. Evoqua stockholders received 0.48 shares of Xylem common stock for each Evoqua share, and legacy Evoqua stockholders own approximately 25% of the combined company while legacy Xylem shareholders own approximately 75%. The cash component was funded with cash on hand, $200 million of U.S. dollar commercial paper and a new €250 million (approximately $269 million) two-year term loan, which were used to repay Evoqua indebtedness. The pro forma figures show the scale of the combination. For the fiscal year ended December 31, 2022, pro forma combined revenue is $7,259 million and pro forma net income is $222 million, compared with Xylem's historical revenue of $5,522 million and net income of $355 million. The preliminary purchase price allocation records goodwill of $4,401 million and other intangible assets of $2,307 million, and the filing notes these amounts are preliminary and subject to revision.

Aug 3, 2023 8-K

Xylem 8-K Report, Financial Results (Aug 2, 2023)

Xylem Inc. (NYSE: XYL) reported second-quarter 2023 results on August 2, 2023, which include the May 24 acquisition of Evoqua Water Technologies Corp. Total revenue was $1.7 billion, up 26 percent on a reported basis and 15 percent organically, while orders rose 10 percent reported but fell 2 percent organically. Backlog grew to $5.3 billion, up 7 percent organically and including $1.3 billion from Evoqua. Net income was $92 million, or $0.45 per share, down from $112 million a year earlier, reflecting higher acquisition and integration costs, higher purchase accounting intangible amortization, and higher restructuring and realignment costs. Adjusted net income was $202 million, or $0.98 per share, and adjusted EBITDA margin was 19.1 percent, up 250 basis points year over year. Xylem raised its full-year 2023 guidance. Revenue is now expected at approximately $7.2 billion, up approximately 30 percent reported and 9 to 10 percent organic, versus the prior 8 to 9 percent. Adjusted EBITDA margin is expected at approximately 18 percent, up from 17.5 to 18.0 percent, and adjusted EPS guidance rose to $3.50 to $3.70 from $3.15 to $3.35. Following the acquisition, Xylem reports four segments, including a new stand-alone Integrated Solutions & Services segment. The quarter's reported profitability was pressured by deal-related costs, but adjusted results and the raised outlook point to stronger underlying operating performance. Investors should weigh the organic order decline and the higher debt and goodwill base that came with the acquisition, with total assets rising to $16.1 billion from $8.0 billion at year-end 2022.

Aug 2, 2023 8-K

Xylem 8-K Report, Acquisition Completed (May 24, 2023)

On May 24, 2023, Xylem Inc. (NYSE: XYL) completed its merger with Evoqua Water Technologies Corp. under the Agreement and Plan of Merger dated January 22, 2023. Each share of Evoqua common stock was converted into the right to receive 0.48 shares of Xylem common stock, with cash paid in lieu of fractional shares. The company expects to deliver an approximate aggregate of 58,779,100 shares of Xylem common stock to Evoqua stockholders and has reserved a maximum of 2,700,000 shares for Evoqua equity awards converted into Xylem awards. The press release states that the transaction was valued at approximately $7.5 billion, all-stock, and that Xylem shareholders will own approximately 75 percent and Evoqua shareholders approximately 25 percent of the combined company on a fully diluted basis. The combined company reported $7.3 billion in pro forma 2022 revenue and more than 22,000 employees. Governance changes accompanied the closing. The Board increased in size from 10 to 12 directors, and Lisa Glatch and Lynn C. Swann, former Evoqua directors, were appointed effective at closing. Glatch joined the Leadership Development and Compensation Committee and Swann joined the Nominating and Governance Committee. The Board determined both to be independent. Patrick Decker, Xylem's President and CEO, will lead the combined company's executive leadership team. At the May 18, 2023 Annual Meeting, shareholders elected all ten nominated directors, ratified Deloitte & Touche LLP as auditor for 2023, and approved the advisory vote on named executive compensation. A shareholder proposal requiring an independent board chair did not pass, receiving 56,770,916 votes for and 89,700,132 against. The financial statements and pro forma financial information required by Item 9.01 are not included in this filing and are to be filed by amendment.

May 24, 2023 8-K

Xylem 8-K Report, Shareholder Vote Results (May 11, 2023)

Xylem Inc. held a special meeting of shareholders on May 11, 2023 to consider the Agreement and Plan of Merger, dated January 22, 2023, among Evoqua Water Technologies Corp., Xylem and Fore Merger Sub, Inc., a wholly owned Xylem subsidiary. The only matter submitted to a vote was the Share Issuance Proposal, which would issue Xylem common stock to Evoqua stockholders in connection with the merger. Shareholders approved it with 145,635,373 votes for, 585,489 against and 1,394,706 abstentions. Of the 180,617,802 shares outstanding as of the April 5, 2023 record date, 147,615,568 shares were present in person or by proxy, which was sufficient for a quorum. The filing states that closing remains subject to customary closing conditions and receipt of regulatory clearance from the relevant merger control authority in China. The filing also includes forward-looking statements, flagging risks such as failure to obtain regulatory approvals, litigation, integration difficulties, synergy achievement, and macroeconomic and geopolitical conditions, including the war between Russia and Ukraine. For investors, the key development is the shareholder approval of the share issuance, which clears one major shareholder hurdle for the transaction. Completion, however, still depends on the Chinese regulatory clearance and other customary conditions. The filing refers to a joint proxy statement/prospectus, filed April 11, 2023, for further details on the transaction.

May 11, 2023 10-Q

Xylem Quarterly Report for Q1 Ended Mar 31, 2023

Xylem Inc. reported first-quarter 2023 revenue of $1,448 million, up 13.8% from $1,272 million a year earlier, or 17.4% on a constant currency basis, driven by organic growth in all three segments and in all major geographic regions. Operating income rose to $131 million (a 9.0% operating margin) from $111 million, and net income increased to $99 million from $82 million. Diluted earnings per share were $0.54 versus $0.45. On an adjusted basis, which excludes restructuring and realignment costs and special charges, adjusted earnings per share were $0.72 compared with $0.47, and adjusted operating margin was 11.5% versus 9.1%. The company attributed the margin improvement mainly to price realization, productivity savings and favorable volume, partly offset by inflation and higher special charges. Special charges of $25 million related primarily to acquisition and integration costs for the pending Evoqua acquisition. Orders declined 8.5% to $1,570 million, or 5.4% on an organic basis, largely because the Measurement & Control Solutions segment lapped strong prior-year order growth. Total backlog nonetheless rose to $3,743 million at March 31, 2023, from $3,605 million at December 31, 2022. Operating cash flow was negative at $19 million, and free cash flow was negative at $35 million, though both improved year over year. Cash and cash equivalents were $837 million, and the company reported available liquidity of approximately $1.8 billion, including $1 billion of available credit facilities. The new $1 billion 2023 Five-Year Revolving Credit Facility was undrawn at quarter end. The filing describes the pending all-stock acquisition of Evoqua Water Technologies Corp., at an implied enterprise value of approximately $7.5 billion, which is expected to close in mid-2023 subject to shareholder, stockholder and regulatory approvals. Management updated its 2023 outlook to total and organic revenue growth of 8% to 9%. The company also disclosed a pending Swedish tax matter involving SEK800 million (approximately $77 million) and stated that it does not hold any unrecognized tax benefits related to that position.

May 4, 2023 8-K

Xylem 8-K Report, Financial Results (May 4, 2023)

Xylem Inc. (NYSE: XYL) reported first-quarter 2023 revenue of $1.4 billion ($1,448 million), up 14% on a reported basis and 17% organically, with net income of $99 million, or $0.54 per diluted share, compared with $82 million, or $0.45 per diluted share, a year earlier. Adjusted net income was $130 million, or $0.72 per share, and the adjusted EBITDA margin was 16.3%, up 210 basis points year over year. First-quarter orders fell 8% on a reported basis and 5% organically, although the company said it grew backlog and that book-to-bill was greater than one in all segments. Management raised full-year 2023 guidance. Organic revenue growth is now expected at 8% to 9%, up from 4% to 6%, and reported revenue growth at 8% to 9%, up from 3% to 5%. Adjusted EBITDA margin is expected at 17.5% to 18.0%, and adjusted EPS is now forecast at $3.15 to $3.35, up from $3.00 to $3.25. The guidance excludes the planned acquisition of Evoqua, announced January 23, 2023, which the company expects to close by mid-year 2023. By segment, Measurement & Control Solutions revenue rose 29% to $406 million, driven by improved chip supply, while Water Infrastructure revenue grew 11% to $589 million and Applied Water revenue grew 7% to $453 million. Free cash flow was negative $35 million in the quarter, compared with negative $130 million a year earlier, and cash and cash equivalents were $837 million at March 31, 2023.

May 4, 2023 8-K

Xylem 8-K Report, Material Agreement (Mar 2, 2023)

Xylem Inc. (NYSE: XYL) reported on March 2, 2023 that on March 1, 2023 it entered into a Five-Year Revolving Credit Facility Agreement, a senior unsecured revolving credit facility of up to $1.0 billion (available in U.S. dollars and Euros), arranged by a syndicate led by Citibank, N.A., BNP Paribas Securities Corp., ING Bank N.V., Dublin Branch, JPMorgan Chase Bank, N.A., and Wells Fargo Securities, LLC. The facility can be increased by up to $300 million to a maximum of $1.3 billion with lender consent, and proceeds are to be used for working capital and general corporate purposes. No borrowings were outstanding under the facility on the filing date. The agreement includes a pricing grid tied to the company's credit rating with a Sustainability Spread Adjustment, a consolidated total debt to consolidated EBITDA ratio covenant measured over the last four fiscal quarters, and customary covenants and events of default. In connection with this agreement, Xylem terminated its prior Five-Year Revolving Credit Facility Agreement dated March 5, 2019, which provided an $800 million senior unsecured revolver expandable by up to $200 million to $1.0 billion. The 2023 facility therefore replaces the prior facility with a larger base commitment and a higher maximum size. Separately, on February 24, 2023 the Board increased its size from 10 to 11 directors and appointed Earl R. Ellis, Executive Vice President and Chief Financial Officer of ABM Industries Incorporated, to fill the vacancy effective March 9, 2023. The Board determined Mr. Ellis is independent, and committee assignments are expected at a later meeting. His director compensation will be prorated for the current term.

Mar 2, 2023