🔴 Xylem is trading 10.6% down today after cutting full-year earnings and revenue guidance

Xylem is trading at $96.75, down 10.62%, after third-quarter revenue and adjusted EPS came in below estimates and management cut full-year guidance.

• The October 27 report showed $2.2 billion in revenue, below the $2.28 billion estimate, and adjusted EPS of $1.44, just under consensus.
• Management cut full-year adjusted EPS guidance to $5.40–$5.45 from $5.55–$5.70 and lowered its revenue outlook to about $8.95 billion.
• Xylem cited project timing and cautious customer spending and announced plans to divest two businesses.