07:35 AM EDT, 07/30/2024 (MT Newswires) -- Xylem (XYL) reported Q2 adjusted earnings Tuesday of $1.09 per diluted share, compared with $0.98 a year earlier.

Analysts surveyed by Capital IQ expected $1.05.

Revenue for the quarter ended June 30 was $2.17 billion, compared with $1.72 billion a year earlier.

Analysts surveyed by Capital IQ expected $2.14 billion.

The water technology company raised its 2024 guidance and now expects adjusted EPS of $4.18 to $4.28 from the previous guidance of $4.10 to $4.25.

Xylem also said it now expects revenue of $8.55 billion, which is about 16% higher from 2023 on a reported basis and 5% to 6% on an organic basis. This is up from previous guidance of a 15% to 16% increase on a reported basis and an increase of 4% to 6% on an organic basis.

Analysts surveyed by Capital IQ expect adjusted EPS of $4.22 on revenue of $8.56 billion.

Shares of the company were up nearly 2% in recent premarket activity.

Price: 144.30, Change: +2.77, Percent Change: +1.96