Waters Q4 Earnings Beats Estimates, CEO Touts Strong Execution In Tough Market Conditions
Portfolio Pulse from Nabaparna Bhattacharya
Waters Corporation (NYSE:WAT) reported Q4 full-year 2023 sales of $819.47 million, surpassing analyst expectations. Despite a quarterly revenue decline of 4.5%, the company beat the Wall Street earnings estimate with an adjusted EPS of $3.62. Gross and adjusted operating margins improved, while sales varied by region, with significant declines in China. The company provided a cautious outlook for 2024, expecting slight organic constant currency sales growth and projecting a decrease in Q1 sales.
February 06, 2024 | 6:34 pm
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Waters Corporation reported higher than expected Q4 sales and earnings, with shares trading up 1.88%. The company faces challenges with regional sales, especially in China, and projects modest growth for 2024.
The positive earnings report and the beat on both top and bottom lines likely contribute to investor optimism, driving the stock price up in the short term. However, the cautious outlook for 2024, especially the expected decline in Q1 sales, may temper long-term expectations.
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