Why Xylem Stock Tumbled on Thursday

On the back of Xylem's (NYSE: XYL) latest quarterly earnings report, investors eagerly traded out of the stock on the second-to-last trading day of the week. This news-fueled decline left the shares with a more than 6% price haircut at market close, notably worse than the almost 2% decrease of the S&P 500 (SNPINDEX: ^GSPC) index.Xylem's third quarter saw the water technology specialist earn $2.1 billion in revenue, which was 1% higher on a year-over-year basis. Non-GAAP (generally accepted accounting principles) adjusted net income also inched up across that stretch, coming in at just under $244 million ($1.11 per share) from the year-ago profit of $242 million. On average, analysts tracking Xylem's fortunes were expecting a slightly higher top line of $2.17 billion, while the company met their collective estimate of $1.11 per share for adjusted net income. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool