Waters Q3 2022 Earnings Report
Key Takeaways
Waters Corporation reported Q3 2022 sales of $709 million, a 7% increase as reported and a 15% increase in constant currency. GAAP EPS was $2.60, while non-GAAP EPS was $2.64. The company is raising its full-year 2022 sales guidance and updating its full-year 2022 non-GAAP EPS guidance.
Sales of $709 million grew 7% as reported and 15% in constant currency
Instrument sales grew 21% in constant currency, with strong growth across LC, MS, and TA product lines
Industrial grew 22% in constant currency, with broad strength across food and environmental, chemical analysis, and TA
All major geographies grew double-digits in constant currency, led by 23% growth in China
Waters
Waters
Waters Revenue by Segment
Waters Revenue by Geographic Location
Forward Guidance
The Company expects fourth quarter 2022 constant currency sales growth in the range of 6% to 8%. Currency translation is expected to decrease fourth quarter sales growth by approximately 8%. The Company expects fourth quarter 2022 non-GAAP EPS in the range of $3.66 to $3.76, which includes an estimated headwind of approximately 15% due to unfavorable foreign exchange.
Revenue & Expenses
Visualization of income flow from segment revenue to net income