What's Going On With Laboratory Instrument & Software Company Waters' Shares Today?
Portfolio Pulse from Nabaparna Bhattacharya
Waters Corporation (NYSE:WAT) reported Q3 sales growth of 0.4% YoY to $711.69 million, missing the consensus of $723.34 million. Adjusted EPS was $2.84, beating the consensus of $2.55. The company lowered its FY23 outlook, with non-GAAP EPS guidance at $11.65-$11.75 versus the consensus estimate of $12.14. Full-year 2023 organic constant currency sales are expected to decline in the range of -2% to -1%. Despite the lowered outlook, WAT shares are trading higher by 1.99% to $257.17.
November 07, 2023 | 5:56 pm
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Waters Corporation reported lower than expected Q3 sales but beat EPS estimates. The company lowered its FY23 outlook, but shares are trading higher.
Waters Corporation's Q3 sales missed estimates, which could negatively impact the stock. However, the company beat EPS estimates, which is a positive signal. The lowered FY23 outlook could also negatively impact the stock. Despite these mixed signals, the stock is trading higher, indicating that the market may have already priced in the lowered outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100