Xylem Shares Drop 14% to 52-Week Low Following Third-Quarter Earnings Miss
Shares of Xylem (XYL) fell nearly 14% on Tuesday, closing at $92.86 after the water-technology company reported third-quarter financial results that failed to meet market expectations. The significant price drop represents a new 52-week low for the stock. In addition to the earnings miss, Xylem issued a downward revision to its full-year guidance. This combination of disappointing quarterly performance and reduced future outlook triggered a sharp sell-off in the company's shares.
Tickers: $XYL
Topics: earnings miss guidance reduction stock price decline water technology