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Xylem says 2021 momentum positive

Water technology and equipment company Xylem expects 2021 revenues to climb back over US$5 billion after its COVID-impacted 2020 delivered net income of $254 million on $4.88 billion of sales, down from more than $5.2 billion in 2019 and 2018.

Staff reporter
US-based Xylem says stronger orders have started to flow

US-based Xylem says stronger orders have started to flow

The company forecasts its 2021 revenues to be in a range of $5.16-5.26 billion.

December quarter net income came in at $148 million on $1.37 billion of revenue.

Xylem president and CEO Patrick Decker said positive fourth quarter momentum was encouraging heading into the new year.

"Our end markets showed encouraging signs of recovery in the fourth quarter, with healthy orders trends and significant backlog growth," he said.

"We also delivered strong performance with our industry-leading digital portfolio, as the pandemic continues to accelerate customer adoption of digital technologies across the water sector. This clearly positions Xylem well in both the near and long term."

Xylem is a global supplier of pumps and fluid handling equipment to mines, with the market accounting for up to 5% of its annual sales.

 

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