Xylem Inc. reported a significant increase in its financial performance for the fiscal year ended December 31, 2024, with total revenues reaching $8.56 billion, a 16.3% increase from $7.36 billion in 2023. This growth was driven by both organic revenue growth of $424 million and contributions from acquisitions, notably the acquisition of Evoqua Water Technologies Corp., which added $786 million to the revenue. The company's net income also rose to $890 million, or $3.65 per diluted share, marking a 30.8% increase compared to $609 million, or $2.79 per diluted share, in the previous year.
The company experienced notable operational changes, including the integration of Evoqua, which was completed on May 24, 2023. This acquisition has expanded Xylem's capabilities in water and wastewater treatment solutions, contributing to a diversified product portfolio. Additionally, Xylem's total orders for 2024 amounted to $8.73 billion, reflecting a 16.4% increase from $7.50 billion in 2023, with organic growth of 4.7%. The backlog at the end of 2024 was $5.07 billion, slightly down from $5.09 billion in 2023, with expectations that over 50% of this backlog will be recognized as revenue in 2025.
Geographically, Xylem's revenue distribution showed a strong performance in the United States, which accounted for 57% of total revenue, up from 54% in 2023. Western Europe contributed 20%, while emerging markets accounted for 15% of total revenue. The company employed approximately 23,000 people globally as of December 31, 2024, with a focus on enhancing its workforce to support growth initiatives and operational efficiency.
Looking ahead, Xylem anticipates total revenue growth of up to 2% in 2025, with organic revenue growth projected between 3% and 4%. The company is also implementing a restructuring plan that includes workforce reductions across its businesses, expected to incur charges between $90 million and $110 million in 2025. This strategic move aims to optimize costs and improve operational efficiency, aligning with Xylem's long-term growth objectives.
About Xylem Inc.
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