Adjusted net income of $143 million, or 79c/share, for the second quarter of 2019 was up 10% yoy.

"We are confident that our Xylem team will continue to deliver mid-single-digit growth and strong margin expansion in the second half of the year, despite seeing some slowing in Europe," said CEO and president Patrick Decker.

"As digitization of the water sector drives new demand, we're seeing accelerating interest in our offerings. We continue to invest in technology and capabilities that deliver step-changes in performance and economics alongside water and energy savings."

NYSE-listed Xylem (XYL) is a big global supplier of pumps and water process and treatment systems to utilities, and the infrastructure, residential and commercial markets, as well as other industrial markets such as mining (circa 4% of revenues) and oil and gas (2%).

It said growth in the second quarter was led by "double-digit growth in the US and continued solid momentum in China and India".

"For 2019, we expect organic [industrial market] growth in the low-single-digits range driven by continued solid industrial conditions in the United States as the oil and gas markets begin to stabilize after a strong 2018. We anticipate mixed market conditions outside of the United States with strength in Australia and India, offset by slowing growth in China and softer than anticipated conditions in Europe and the Middle East."