- Shares of Xylem (XYL -11.3%) fall hard as the company says adjusted EPS decreased 26% Y/Y in Q2. Organic revenue growth came in at -3.4% for the period.
- Weakness in Europe "more than offset" strength in U.S. residential, commercial, and agricultural businesses.
- Outlook is "adjusted to reflect on-going market weakness." Management now sees FY13 EPS of $1.40-1.50 on revenue of $3.7B. Consensus is $1.82/ share on $3.87B in sales. (PR)
Xylem sinks as earnings, revenue, guidance come up short
Jul 30 2013, 14:00 ET