Xylem Inc - XYL STOCK NEWS

Xylem Inc. (NYSE: XYL), a leading global water technology company, has announced its participation in two upcoming investor conferences. The company will be represented at the Stifel Cross Sector Conference in London on September 5, where Chief Financial Officer Bill Grogan and VP of Investor Relations Keith Buettner will present and meet with investors.

Additionally, Xylem will attend the RBC Global Markets Conference in Las Vegas on September 24. At this event, Bill Grogan will be joined by Tom Pettit, Chief Operations and Supply Chain Officer, and Keith Buettner for presentations and investor meetings.

Webcasts of these presentations will be available for replay on Xylem's Investor Relations website for 90 days following the events, providing an opportunity for interested parties to stay informed about the company's latest developments and strategies.

Xylem Inc. (NYSE: XYL) reported strong second-quarter 2024 results, with revenue of $2.2 billion, up 26% on a reported basis and 9% organically. Earnings per share rose 78% to $0.80, or $1.09 on an adjusted basis, up 11%. The company raised its full-year guidance, now expecting revenue of $8.55 billion, a 16% increase, with organic growth of 5-6%. Adjusted EPS guidance was increased to $4.18-$4.28.

Net income reached $194 million, with a margin increase of 360 basis points to 8.9%. Adjusted EBITDA margin expanded 170 basis points to 20.8%. The company cited healthy demand, disciplined operational execution, and progress on Evoqua integration and synergies as key drivers of performance.

Xylem's 2024 Global Student Innovation Challenge saw teams from the Philippines and Algeria win grand prizes for their water conservation solutions. The challenge, part of Xylem's youth program Xylem Ignite, attracted over 4,400 students from 150 countries to tackle critical water issues.

The high school division winners, Team AGWE from the Philippines, developed an augmented reality tool for water conservation awareness. The university division winners, The Blue team from Algeria, created an immersive learning experience on water management topics.

Winning teams share a $20,000 prize pool and can join Xylem's Innovation Incubator for further project development. The challenge, now in its fourth year, has seen nearly sevenfold growth in student participation since 2021, highlighting increasing youth engagement in water sector innovation.

ApaVital S.A., a Romanian water utility serving over 500,000 people in Iasi, is implementing Xylem Vue powered by GoAigua, an advanced analytics platform from Xylem (NYSE: XYL), to tackle water losses and optimize its infrastructure. The software will integrate data from ApaVital's network of 4,000 kilometers of water pipes, 193 pumping stations, and 50,000 water meters.

This initiative aims to reduce water loss from the current 41% national average to below 20%, addressing new leakage thresholds mandated by the revised European Drinking Water Directive. The platform will enable real-time monitoring, proactive leak detection, and prevention, ensuring a more sustainable water supply for the region.

Xylem is expanding its corporate venture investing with a $50 million commitment aimed at combating water scarcity, quality issues, and decarbonization.

By investing in innovative startups and partnering with leading venture capital firms, Xylem seeks to accelerate the development of advanced water technologies. The company highlights its growth priorities such as advanced treatment solutions, digital technologies, and services for managing complex water systems.

This initiative builds on Xylem's previous $20 million investments in 2022, which were directed toward Burnt Island Ventures and The Westly Group, focusing on early-stage water innovation and broader energy and industrial solutions.

According to Sivan Zamir, Vice President of Xylem Innovation Labs, the company aims to bring essential innovations to market swiftly and at scale through these collaborative efforts.

Sense and Xylem's Sensus team announced a groundbreaking collaboration to develop the first electric meter in North America capable of capturing and processing 1 MHz data. The high-resolution data will improve grid edge intelligence, helping utilities detect anomalies and enhance grid reliability amidst increasing risks like extreme weather and the rapid integration of renewable energy sources. By embedding Sense's real-time edge intelligence software in Sensus meters, utilities will gain dynamic operational capabilities and more innovative rate creation, aiding regulatory compliance and cost management for customers. This collaboration aims to revolutionize the integration of distributed energy resources and adapt to evolving smart device ecosystems without the need for hardware replacements.

Xylem (NYSE: XYL) will announce its second quarter 2024 financial results on July 30, 2024, at 6:55 a.m. (ET). Following the release, the senior management team will conduct a conference call at 9:00 a.m. (ET) to discuss the results with investors. The call can be accessed via telephone or through the Xylem Investors Events webpage. A replay of the briefing will be available from July 30, 2024, 1:00 p.m. (ET) until August 6, 2024, 11:59 p.m. (ET) both online and via telephone.

Tacoma Public Utilities (TPU) has expanded its deployment of advanced metering infrastructure (AMI) from Xylem to cover both its water and electric services. The initiative includes the installation of 300,000 advanced meters and a FlexNet® communication network, significantly enhancing operational efficiency and customer service. This improved system registers 6.5 million reads daily, enabling more accurate billing and faster response times, important during severe weather events. TPU's proactive pressure management has already prevented potential customer issues, demonstrating the technology's effectiveness in real-time utility management.

Xylem (NYSE: XYL) has announced new 2030 water stewardship goals following its merger with Evoqua. These goals include reducing global water demand by 2 billion cubic meters, cutting the company’s own water intensity by 30%, and increasing supply chain water intensity visibility. The 2023 Sustainability Report highlights their progress since 2019, including treating over 13 billion cubic meters of water and preventing over 8 billion cubic meters of polluted water from flooding communities. In 2023, Xylem reported significant operational improvements, with 19 of 22 major facilities using 100% renewable energy and achieving water recycling and zero waste to landfills. Additionally, Xylem provided clean water and sanitation to 3.8 million people in under-resourced communities and aims to reach 80 million more by 2030.