April 28 (Reuters) - Xylem on Tuesday raised its 2026 revenue forecast, after beating Wall Street estimates for first-quarter results, citing healthy demand for its water-treatment equipment.
Shares of the company were up 1.1% in premarket trading.
"We entered the year with sustained momentum and solid demand across key end markets," Xylem CEO Matthew Pine said, adding "the external environment remains dynamic."
o The water management company raises 2026 revenue forecast to between $9.2 billion and $9.3 billion from between $9.1 billion and $9.2 billion previously. It kept its annual adjusted per-share profit view unchanged at $5.35 to $5.60.
o Xylem's total quarterly revenue rose 3% to $2.12 billion, coming in above analysts' average estimate of $2.11 billion, per LSEG-compiled data.
o Revenue in the company's largest water infrastructure business, rose 4% to $603 million, citing higher orders from the transport industry.
o Xylem's applied water unit, which sells pumps, valves and other equipment, recorded sales growing by 3% to $448 million, with U.S. data centers driving orders growth.
o On an adjusted basis, quarterly profit stood at $1.12 per share, beating estimates of $1.08 per share.
(Reporting by Puyaan Singh in Bengaluru; Editing by Anil D'Silva)
