Waters Corp. (WAT) Tops Q3 EPS by 2c, Revenues Beat; Offers FY18 EPS Outlook Below Consensus

Waters Corp. (NYSE: WAT) reported Q3 EPS of $1.92, $0.02 better than the analyst estimate of $1.90. Revenue for the quarter came in at $578 million versus the consensus estimate of $588.18 million.

Chris O’Connell, Chairman and Chief Executive Officer of Waters Corporation, commented, “While third quarter sales growth was slower than expected, we delivered meaningful operating leverage and achieved high-single-digit earnings per share growth. We are making significant progress against our growth initiatives, headlined by our efforts over the past several years to transform our innovation process that is beginning to deliver a series of next generation products to market.”

• Sales of $578 million grew 2% as reported and 3% in constant currency
• All end markets contributed to sales growth
• Strong growth from China, partially offset by softness in Europe
• GAAP EPS increased 8% to $1.83; non-GAAP EPS increased 8% to $1.92

GUIDANCE:

Waters Corp. sees FY2018 EPS of $8.00-$8.10, versus the consensus of $8.11.

For earnings history and earnings-related data on Waters Corp. (WAT) click here.

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