The company forecasts its 2021 revenues to be in a range of $5.16-5.26 billion.

December quarter net income came in at $148 million on $1.37 billion of revenue.

Xylem president and CEO Patrick Decker said positive fourth quarter momentum was encouraging heading into the new year.

"Our end markets showed encouraging signs of recovery in the fourth quarter, with healthy orders trends and significant backlog growth," he said.

"We also delivered strong performance with our industry-leading digital portfolio, as the pandemic continues to accelerate customer adoption of digital technologies across the water sector. This clearly positions Xylem well in both the near and long term."

Xylem is a global supplier of pumps and fluid handling equipment to mines, with the market accounting for up to 5% of its annual sales.