Expanded margins, apparently largely through price increases in North America (this appears to be the forecast for 2023)
Interesting macro trends in North America as ABI and Dodge Momentum Index point in opposite directions
Announced acquisition of Enware Australia
Continuing to invest in smart and connected products (goal is 25% of revenue from smart and connected by the end of 2023, they are currently at 19% at the end of 2022, which was a 300bps increase)
Xylem announces Q4 and 2022 performance
Q4 revenue grew at 20%, led by US sales
M&CS was up 35% (in part driven by chip shortages clearing up) - orders were down 19%, but the book-to-bill ration of 1.1x, the current backog is $2.1B
Announced Idrica partnership
Matthew Pine, recently named COO, was heavily involved in the call, he announced his three priorities
Accelerate profitable growth and maximize value delivered to customers
Enhance digital portfolio
Standardize solutions and create new offerings
He emphasized "removing complexity" and "simplifying" multiple times during the call
The EAS spinoff with revenues of $4.8B will be led by Jennifer Honeycutt
It will be based in Waltham MA