Q3 2024 Waters Corp Earnings Call Transcript
Key Points
- Waters Corp (WAT) reported strong third-quarter results with revenue, margin performance, and earnings per share significantly exceeding expectations.
- Sales were above the high end of guidance, with all three reported regions returning to positive growth, led by the pharma and industrial markets.
- Recurring revenue growth accelerated, driven by an 8% increase in the chemistry consumables portfolio.
- The company achieved adjusted EPS growth over 10% higher than the midpoint of their guidance, reflecting strong operational management.
- Waters Corp (WAT) launched new products, including the Alliance iS and Xevo TQ Absolute, which have been well-received and are contributing to growth.
- China sales were a slight headwind, with mid-single-digit declines, although there was some stabilization.
- The company faces dynamic market conditions, which could impact future growth and recovery pace.
- Despite strong performance, the full-year sales growth guidance remains slightly negative, indicating challenges in achieving positive growth.
- Currency translation is expected to negatively impact fourth-quarter reported sales growth by approximately 1.7%.
- The timing and impact of the Chinese stimulus remain uncertain, which could affect future order and sales growth.
Good morning, and welcome to the Waters Corporation third quarter 2024 financial results conference call. (Operator instructions) This call is being recorded. If anyone has objections, please disconnect at this time.
It is now my pleasure to turn the call over to Mr. Caspar Tudor, Head of Investor Relations. Please go ahead, sir.
Thank you, Julie. Good morning, everyone and welcome to the Waters Corporation third quarter earnings call. Today, I'm joined by Dr. Udit Batra, Waters President and Chief Executive Officer; and Amol Chaubal, Waters Senior Vice President and Chief Financial Officer.
Before we begin, I will cover the cautionary language. In this conference call, we will make various forward-looking statements regarding future events or future financial performance of the company. We will provide guidance regarding possible future results as well as commentary on potential market and business conditions that may impact Waters Corporation over the fourth quarter of 2024, full
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
