Waters Corp. Reports Strong Q4 Earnings, Exceeds Wall Street Expectations
MILFORD, Mass. - Waters Corp. (WAT) announced quarterly earnings of $231.4 million, surpassing analyst estimates. On a per-share basis, the company reported net income of $3.88, with adjusted earnings reaching $4.10 per share.
The results exceeded the average estimate of $4.02 per share from seven analysts surveyed by Zacks Investment Research. The manufacturer of drug discovery and development products also posted revenue of $872.7 million, beating Street forecasts of $857.1 million from five analysts surveyed by Zacks.
For the full year, Waters Corp. reported a profit of $637.8 million ($10.71 per share) on revenue of $2.96 billion.
Looking ahead, the company expects per-share earnings between $2.17 and $2.25 for the current quarter ending in March. For the full year, Waters projects earnings in the range of $12.70 to $13 per share.