Waters Q3 Adj. EPS Outlook $2.60-$2.70 Vs. $2.89 Estimate
Portfolio Pulse from Benzinga Newsdesk
Waters Corporation has provided its financial guidance for the third quarter of 2024. The company expects constant currency sales growth between +1.0% and +3.0%, but currency translation is expected to decrease sales growth by approximately 1.5%. As a result, reported sales growth is expected to range from -0.5% to +1.5%. Additionally, non-GAAP EPS is projected to be between $2.60 and $2.70, below the $2.89 estimate, due to a 2% headwind from unfavorable foreign exchange.
July 31, 2024 | 10:55 am
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Waters Corporation has issued a lower-than-expected EPS guidance for Q3 2024, projecting non-GAAP EPS between $2.60 and $2.70, below the $2.89 estimate. The company also expects reported sales growth to be between -0.5% and +1.5%, impacted by a 1.5% decrease due to currency translation.
The lower-than-expected EPS guidance and the potential negative impact on sales growth due to currency translation are likely to negatively affect investor sentiment and the stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100