Waters Q1 2024 Earnings Report
Key Takeaways
Waters Corporation reported Q1 2024 sales of $637 million, a 7% decrease compared to Q1 2023. GAAP EPS was $1.72, and non-GAAP EPS was $2.21. The company maintained its full-year guidance.
Sales of $637 million were at the high-end of guidance, but declined 7% as reported and 9% in organic constant currency.
GAAP EPS was $1.72, with non-GAAP EPS at $2.21, both exceeding guidance.
Gross margin and adjusted operating margin expanded due to operational excellence.
Operating cash flow was strong at $263 million, with free cash flow of $234 million, representing 37% of sales.
Waters
Waters
Waters Revenue by Geographic Location
Forward Guidance
The Company expects second quarter 2024 organic constant currency sales growth to be in the range of -6.0% to -4.0%. The Company expects full-year 2024 organic constant currency sales growth to be in the range of -0.5% to +1.5%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income