Oct 28 (Reuters) - Xylem XYL.N on Tuesday raised its annual sales and profit forecasts, banking on resilient demand for its water treatment equipment, while also beating Wall Street estimates for third-quarter results.
Shares of the company rose 2.7% in premarket trading.
"The team delivered another strong quarter, exceeding expectations with disciplined execution on continuing commercial momentum," CEO Matthew Pine said in a statement.
Xylem now expects adjusted earnings per share for 2025 to range between $5.03 to $5.08, up from its prior forecast of between $4.70 and $4.85.
The company forecast 2025 sales of $9 billion, compared to its previous view of between $8.90 billion and $9 billion.
Analysts, on average, had expected earnings of $4.84 per share and sales of $8.95 billion, according to LSEG-compiled data.
Sales from Xylem's water infrastructure unit, which sells products like water and wastewater pumps, was $656 million in the reported quarter, exceeding analysts' expectations of $644.4 million.
Its applied water unit, which sells pumps, valves and other equipment, recorded sales of $456 million, below expectations of $462.68 million.
On an adjusted basis, Xylem earned $1.37 per share for the quarter ended September 30, while analysts on average expected the company to earn $1.23 per share.
The company reported quarterly revenue of $2.27 billion, compared with analysts' estimates of $2.22 billion.
(Reporting by Padmanabhan Ananthan in Bengaluru; Editing by Shailesh Kuber)
((Padmanabhan.Ananthan@thomsonreuters.com;))