Jun 2026 (Q2 FY26) — Jul 28, 2026
Xylem Q2 FY26 — Strong Margins and Industrial Growth Offset Electric Metering Delays
Read the full callXylem (XYL) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Xylem earnings: last reported Tue, 28 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,336 | +1.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 16.7 | +3.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 263 | +16.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
57 of 67 judged targets kept · 29 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Measurement & Control Solutions segment EBITDA margin | down year-over-year but improving sequentially from Q1 | Mar 2026 | MCS EBITDA margin of 21.1%, 200 basis points lower than prior year, as guided down year-over-year. | Achieved |
| Close divestiture of the international metering business | close in early 2026 at a selling price of $125 million | Sep 2025 | Came due; not addressed on this call. | Ghosted |
| Full-year adjusted EBITDA margin | 22.9% to 23.3% | Dec 2025 | FY26 EBITDA margin raised to 23.1% to 23.5% from 22.9% to 23.3%. | Revised Up |
10 of Xylem Inc.'s 96 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 93 more targets are in the full ledger.
Claimed
- Ending backlog at $5.3 billion with book-to-bill well above 1.
- Record quarterly EPS of $1.46, a 16% increase over the prior year.
- EBITDA margin of 23.3%, up 150 basis points versus the prior year.
- Water Infrastructure EBITDA margin expansion of 480 basis points.
- Data center orders in Q2 were up over 300%.
Qualified
- Revenue was up 1% in the quarter, impacted by a 27% decline in China and almost 2% walk-away revenue.
- MCS electric project delays impacting the near-term outlook, leading to a narrowed full-year organic revenue growth guidance of 2% to 3% (from 2% to 4%).
- Water Infrastructure orders were down 4%, driven by continued softness in treatment due to 80/20 actions and China.
- Applied Water EBITDA margin was slightly below expectations, down 50 basis points year-over-year.
Price
$103.53 −0.50% · −$0.52
Performance −29.0% 1Y
1Y: $145.91 on 17 Oct 2025 → $103.53. High $152.95 (29 Oct 2025), low $100.88 (1 Oct 2026).
- Previous close
- $104.05
- 52-week range
- $100.88 – $152.95
- One year
- −29.46%
Overview
- Symbol
- XYL
- Sector
- Industrials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
57 of 67 judged targets kept · 29 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Measurement & Control Solutions segment EBITDA margin | down year-over-year but improving sequentially from Q1 | Mar 2026 | MCS EBITDA margin of 21.1%, 200 basis points lower than prior year, as guided down year-over-year. | Achieved |
| Close divestiture of the international metering business | close in early 2026 at a selling price of $125 million | Sep 2025 | Came due; not addressed on this call. | Ghosted |
| Full-year adjusted EBITDA margin | 22.9% to 23.3% | Dec 2025 | FY26 EBITDA margin raised to 23.1% to 23.5% from 22.9% to 23.3%. | Revised Up |
Claimed
- Ending backlog at $5.3 billion with book-to-bill well above 1.
- Record quarterly EPS of $1.46, a 16% increase over the prior year.
- EBITDA margin of 23.3%, up 150 basis points versus the prior year.
- Water Infrastructure EBITDA margin expansion of 480 basis points.
- Data center orders in Q2 were up over 300%.
Qualified
- Revenue was up 1% in the quarter, impacted by a 27% decline in China and almost 2% walk-away revenue.
- MCS electric project delays impacting the near-term outlook, leading to a narrowed full-year organic revenue growth guidance of 2% to 3% (from 2% to 4%).
- Water Infrastructure orders were down 4%, driven by continued softness in treatment due to 80/20 actions and China.
- Applied Water EBITDA margin was slightly below expectations, down 50 basis points year-over-year.
The full ledger
Open Xylem Inc.’s full ledger
A free account opens 5 company ledgers a month. All 96 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
Xylem Q1 FY26 — Record $850M outsourced-water win and 9% EPS growth on a flat top line
Read the full callDec 2025 (Q4 FY25) — Feb 10, 2026
Xylem Q4 FY25 — Record Performance Driven by Operational Transformation
Read the full callEvery analysed call
Xylem earnings calls (XYL)
Financials
What the filings say
Net profit, year on year: +16% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2,104 | 2,256 | 2,069 | 2,301 | 2,268 | 2,397 | 2,125 | 2,336 |
| Operating profit | 280 | 267 | 231 | 305 | 334 | 353 | 244 | 390 |
| Operating margin | 13.3% | 11.8% | 11.2% | 13.3% | 14.7% | 14.7% | 11.5% | 16.7% |
| Interest | 10 | 9 | 8 | 9 | 6 | 6 | 4 | 7 |
| Profit before tax | 269 | 375 | 217 | 299 | 297 | 368 | 244 | 364 |
| Tax rate | 19.3% | 13.1% | 23.0% | 25.1% | 23.9% | 9.5% | 22.5% | 28.3% |
| Net profit | 217 | 326 | 169 | 226 | 227 | 335 | 193 | 263 |
| EPS ($ per share) | 0.89 | — | 0.69 | 0.93 | 0.93 | — | 0.79 | 1.11 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 |
| Reserves | 1,639 | 1,866 | 1,930 | 2,154 | 2,292 | 2,601 | 3,140 | 3,706 |
| Total liabilities | 4,440 | 4,743 | 5,774 | 5,050 | 4,449 | 5,936 | 5,611 | 5,885 |
| Fixed assets | 656 | 658 | 657 | 644 | 630 | 1,169 | 1,152 | 1,159 |
| Investments | — | 0 | — | — | — | — | — | — |
| Total assets | 7,222 | 7,710 | 8,750 | 8,276 | 7,952 | 16,112 | 16,493 | 17,634 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 586 | 839 | 824 | 538 | 596 | 837 | 1,263 | 1,241 |
| Cash from investing | -643 | -231 | -169 | -183 | -191 | -628 | -482 | -471 |
| Cash from financing | -40 | -177 | 473 | -855 | -790 | -157 | -615 | -501 |
| Net cash flow | -118 | 428 | 1,151 | -526 | -405 | 75 | 102 | 358 |
| Capital expenditure | -237 | -226 | -183 | -208 | -208 | -271 | -321 | -331 |
| Free cash flow | 349 | 613 | 641 | 330 | 388 | 566 | 942 | 910 |
XYL revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Water Infrastructure | — | — | — | 28% | 29% | — | 28% | 29% | +5.1% |
| Water Solutions Services | — | — | 27% | 27% | 28% | 27% | 27% | 28% | +2.5% |
| Measurement and Control Solutions | — | — | — | 23% | 23% | — | 24% | 22% | -5.9% |
| Applied Water | — | — | — | 21% | 20% | — | 21% | 21% | +3.7% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
XYL operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Backlog | $5.1BDemand remains positive, with our ending backlog of $5.1 billion essentially flat from the prior year, driven by progress executing an MCS on their past due backlog, but offset in part by growth across the other 3 segments.Source: earnings call transcript | $5.1BDemand remained solid with our ending backlog at $5.1 billion and our book-to-bill for the quarter above 1.Source: earnings call transcript | ~$5BBacklog remains robust, closing the quarter at approximately $5 billion.Source: earnings call transcript | $4.6BDemand remains positive with our backlog finishing at $4.6 billion.Source: earnings call transcript | $4.7BDemand remains solid with our ending backlog up sequentially to $4.7 billion, and our book-to-bill for the quarter was above 1.Source: earnings call transcript | $5.3BDemand remains healthy with our ending backlog at $5.3 billion and our book-to-bill for the quarter well above 1.Source: earnings call transcript | +12.8% |
| Backlog Measurement and Control Solutions | ~$1.9BThough total MCS backlog remained at roughly $1.9 billion, in line with the prior quarter.Source: earnings call transcript | $1.8BIn Measurement & Control Solutions, we continue to convert the backlog with the total for MCS coming down slightly from the prior quarter to $1.8 billion.Source: earnings call transcript | — | ~$1.4BIn Measurement & Control Solutions, we continue to convert the backlog with MCS' backlog finishing the year at roughly $1.4 billion.Source: earnings call transcript | ~$1.4BIn Measurement & Control Solutions, book-to-bill was below 1, but backlog remained flat sequentially at roughly $1.4 billion.Source: earnings call transcript | ~$1.2BFor Measurement and Control Solutions, in the quarter, book-to-bill was below 1, but backlog remained at roughly $1.2 billion.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 57% ↑ 1 pt
- Western Europe 20%
- Emerging Markets 13% ↓ 3 pt
- Other Geographical Regions 10% ↑ 2 pt
As XYL cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
88 filings between Oct 21, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
$141.1K
1 purchase by 1 insider
Sales
$2.34M
3 sales by 3 insiders
Compensation
not trading decisions- 49
- Award — granted as compensation
- 1
- Option exercise — converted options into shares
- 34
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Toussaint Claudia S | — | $1.59M | Oct 30, 2025 |
| McShane Geri-Michelle | — | $501.4K | May 7, 2026 |
| Harker Victoria D | — | $251.8K | Nov 4, 2025 |
| Peribere Jerome A | $141.1K | — | May 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | McShane Geri-Michelle SVP, CAO | Award | 4,257 | $0 |
| Sep 1, 2026 | Johnston Joseph Patrick EVP & President, AW | Award | 645 | $0 |
| Sep 1, 2026 | van der Berg Andrea Michele EVP & Chief Financial Officer | Award | 1,693 | $0 |
| Aug 13, 2026 | KOCH D CHRISTIAN Director | Award | 1,247 | $150.0K |
| May 14, 2026 | FRIEL ROBERT F Director | Award | 2,481 | $290.0K |
| May 14, 2026 | Peribere Jerome A Director | Award | 1,711 | $200.0K |
| May 14, 2026 | Yadav Uday Director | Award | 1,711 | $200.0K |
| May 14, 2026 | Tretikov Lila Director | Award | 1,711 | $200.0K |
| May 14, 2026 | Glatch Lisa Director | Award | 1,711 | $200.0K |
| May 14, 2026 | Harker Victoria D Director | Award | 1,711 | $200.0K |
| May 14, 2026 | ELLIS EARL RAY Director | Award | 1,711 | $200.0K |
| May 14, 2026 | Morelli Mark D Director | Award | 1,711 | $200.0K |
| May 7, 2026 | McShane Geri-Michelle SVP, CAO | Option exercise | 3,147 | $273.0K |
| May 7, 2026 | McShane Geri-Michelle SVP, CAO | Sale | 4,269 | $501.4K |
| May 4, 2026 | Peribere Jerome A Director | Purchase | 1,210 | $141.1K |
| Mar 5, 2026 | Cozad Stacy EVP & Chief Legal Officer | Tax withheld | 70 | $8.8K |
| Mar 5, 2026 | Toussaint Claudia S EVP, CP&SO | Tax withheld | 305 | $38.5K |
| Mar 5, 2026 | Emmerich Meredith EVP & Pres, AW | Tax withheld | 158 | $19.9K |
| Mar 5, 2026 | Cho Albert EVP, Strategy | Tax withheld | 177 | $22.3K |
| Mar 5, 2026 | Yarkadas Hayati EVP & President, WI | Tax withheld | 41 | $5.2K |
| Mar 5, 2026 | McGann Michael J. EVP & President, MCS | Tax withheld | 238 | $30.0K |
| Mar 5, 2026 | Aulick Rodney EVP & President, WSS | Tax withheld | 234 | $29.5K |
| Mar 5, 2026 | Grogan William K EVP & Chief Financial Officer | Tax withheld | 641 | $80.9K |
| Mar 5, 2026 | McShane Geri-Michelle SVP, CAO | Tax withheld | 64 | $8.1K |
| Mar 5, 2026 | Pine Matthew Francis Pres. & CEO | Tax withheld | 1,846 | $232.9K |
| Mar 2, 2026 | McShane Geri-Michelle SVP, CAO | Tax withheld | 654 | $84.4K |
| Mar 2, 2026 | McShane Geri-Michelle SVP, CAO | Tax withheld | 188 | $24.2K |
| Mar 2, 2026 | Pine Matthew Francis Pres. & CEO | Tax withheld | 847 | $109.2K |
| Mar 2, 2026 | McShane Geri-Michelle SVP, CAO | Award | 616 | $0 |
| Mar 2, 2026 | McShane Geri-Michelle SVP, CAO | Tax withheld | 150 | $19.3K |
| Mar 2, 2026 | Pine Matthew Francis Pres. & CEO | Award | 16,105 | $0 |
| Mar 2, 2026 | Cozad Stacy EVP & Chief Legal Officer | Award | 1,563 | $0 |
| Mar 2, 2026 | Aulick Rodney EVP & President, WSS | Tax withheld | 238 | $30.7K |
| Mar 2, 2026 | Emmerich Meredith EVP & Pres, AW | Award | 1,610 | $0 |
| Mar 2, 2026 | Pine Matthew Francis Pres. & CEO | Tax withheld | 4,927 | $635.5K |
| Mar 2, 2026 | Pine Matthew Francis Pres. & CEO | Tax withheld | 2,316 | $298.7K |
| Mar 2, 2026 | Toussaint Claudia S EVP, CPSO | Tax withheld | 602 | $77.6K |
| Mar 2, 2026 | Toussaint Claudia S EVP, CPSO | Tax withheld | 797 | $102.8K |
| Mar 2, 2026 | Toussaint Claudia S EVP, CPSO | Tax withheld | 2,580 | $332.8K |
| Mar 2, 2026 | Toussaint Claudia S EVP, CPSO | Award | 1,989 | $0 |
| Mar 2, 2026 | McGann Michael J. EVP & President, MCS | Award | 1,610 | $0 |
| Mar 2, 2026 | McGann Michael J. EVP & President, MCS | Tax withheld | 2,073 | $267.4K |
| Mar 2, 2026 | McGann Michael J. EVP & President, MCS | Tax withheld | 213 | $27.5K |
| Mar 2, 2026 | Yarkadas Hayati EVP & President, WI | Tax withheld | 117 | $15.1K |
| Mar 2, 2026 | Yarkadas Hayati EVP & President, WI | Tax withheld | 565 | $72.9K |
| Mar 2, 2026 | Aulick Rodney EVP & President, WSS | Award | 1,610 | $0 |
| Mar 2, 2026 | Yarkadas Hayati EVP & President, WI | Tax withheld | 94 | $12.1K |
| Mar 2, 2026 | Grogan William K EVP & Chief Financial Officer | Tax withheld | 5,888 | $759.4K |
| Mar 2, 2026 | Yarkadas Hayati EVP & President, WI | Award | 2,274 | $0 |
| Mar 2, 2026 | Grogan William K EVP & Chief Financial Officer | Award | 5,116 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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