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Xylem Inc (XYL) has reported 23.53 percent fall in profit for the year ended Dec. 31, 2016. The company has earned $260 million, or $1.45 a share in the year, compared with $340 million, or $1.87 a share for the last year. On an adjusted basis, the company has earned $364 million, or $2.03 a share for the year.
Revenue during the year grew 3.23 percent to $3,771 million from $3,653 million in the previous year.
Operating income for the year was $406 million, compared with $449 million in the previous year.
However, the adjusted operating profit for the year stood at $511 million.
“Xylem closed out a transformative year in 2016 and I’m proud of the solid commercial and financial results our teams delivered,” said Patrick Decker, President and Chief Executive Officer of Xylem.
Xylem Inc projects revenue to be in the range of $4,500 million to $4,600 million for financial year 2017. For fiscal year 2017, the company projects operating income to grow in the range of 13.20 percent to 13.70 percent. For financial year 2017, the company forecasts diluted earnings per share to be in the range of $2.20 to $2.35 on adjusted basis.
Operating cash flow improves
Xylem Inc has generated cash of $497 million from operating activities during the year, up 7.11 percent or $33 million, when compared with the last year. The company has spent $1,886 million cash to meet investing activities during the year as against cash outgo of $132 million in the last year.
Cash flow from financing activities was $1,034 million for the year as against cash outgo of $262 million in the last year period.
Cash and cash equivalents stood at $308 million as on Dec. 31, 2016, down 54.71 percent or $372 million from $680 million on Dec. 31, 2015.
Working capital drops significantly
Xylem Inc has witnessed a decline in the working capital over the last year. It stood at $491 million as at Dec. 31, 2016, down 58.46 percent or $691 million from $1,182 million on Dec. 31, 2015. Current ratio was at 1.36 as on Dec. 31, 2016, down from 2.44 on Dec. 31, 2015.
Debt increases substantially
Xylem Inc has witnessed an increase in total debt over the last one year. It stood at $2,368 million as on Dec. 31, 2016, up 85.87 percent or $1,094 million from $1,274 million on Dec. 31, 2015. Total debt was 36.57 percent of total assets as on Dec. 31, 2016, compared with 27.36 percent on Dec. 31, 2015. Debt to equity ratio was at 1.08 as on Dec. 31, 2016, up from 0.61 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 5.80 for the year from 8.16 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
