Waters Corp ( (WAT) ) has released its Q3 earnings. Here is a breakdown of the information Waters Corp presented to its investors.
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Waters Corporation, a global leader in analytical instruments and software, specializes in chromatography, mass spectrometry, and thermal analysis for the life, materials, food, and environmental sciences industries.
In its third quarter of 2024 financial report, Waters Corporation announced sales of $740 million, marking a 4% increase compared to the same period in 2023, with both GAAP and non-GAAP EPS significantly exceeding previous guidance. The company experienced growth across all reported regions, particularly in the pharmaceutical and industrial markets.
The company’s instruments division returned to growth earlier than anticipated, driven by increased sales in liquid chromatography to pharmaceutical and industrial sectors. Recurring revenue saw high single-digit growth in constant currency, while geographic sales in Asia and Europe showed robust increases of 5% and 6%, respectively. Waters raised its full-year sales and EPS guidance, expecting a 5% to 7% growth rate in constant currency for the fourth quarter.
Looking forward, Waters Corporation remains confident in its long-term outlook, supported by a strong commercial execution, a competitive product portfolio, and excellent operational performance. The company expects continued growth in the fourth quarter, bolstered by improved customer spending trends and new product adoption.
